Property Valuation
What is a 'restricted use appraisal' (formerly called a 'restricted use report') under USPAP?
AAn appraisal restricted to government use
BA limited appraisal report with a restricted use clause, intended for use only by specified parties (typically only the client), with limited content and disclosures✓ Correct
CAn appraisal of restricted-use land such as agricultural land
DAn appraisal for properties restricted from development
Explanation
Under USPAP, a Restricted Appraisal Report is the most abbreviated report format — appropriate only when the client and appraiser agree that no third party will rely on the report. It contains minimal documentation and includes a restriction against use by anyone other than the identified client. For federally-related transactions, the more comprehensive Appraisal Report format is typically required.
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