Property Valuation
A Massachusetts appraiser must retain a workfile for a non-federally related residential appraisal for at least:
A1 year
B3 years
C5 years✓ Correct
D7 years
Explanation
USPAP requires appraisers to retain workfiles for at least 5 years after preparation or at least 2 years after the final disposition of any judicial proceedings involving the appraisal, whichever is longer. Massachusetts board regulations may impose additional retention requirements.
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