Legal Issues for Non-Lending and Litigation Appraisal Work

Date: September 10, 2020

Location: Okemos, MI


Sponsor:
Great Lakes Chapter
Contact:
Mrs. Joan E. Kaczor
Phone:
810-364-5640
Email:
jkaczor29@gmail.com
Website:
http://www.glcai.com/
Name:
Okemos Conference Center
Address:
2187 University Park Drive
Okemos, MI 48864
Contact:
Amanda Allen
Phone:
517-381-7300
Speakers:
Christensen, Peter

Notes

Legal Issues for Non-Lending and Litigation Appraisal Assignments

 

Most discussion of appraiser liability focuses on lawsuits and claims relating to appraisals performed for mortgage lending.  However, appraisal assignments for litigation and other non-lending purposes actually present a greater liability risk to the appraiser on a per assignment basis.  This seminar addresses the specific liability risks and additional key legal issues associated with appraisals for litigation, divorce, estate, tax, conservation easements and other non-lending purposes.  It also addresses liability considerations for review appraisers. Actual lawsuits against appraisers form the foundation of the seminar.

 

These are the kinds of questions that appraisers get answered in this seminar: Who sues appraisers serving as expert witnesses? Who sues appraisers performing appraisals for tax purposes?  What’s the surest way for an appraiser to be sued for non-lending work?  What’s the likelihood of being sued about a retrospective review appraisal?  How does potential liability for a retrospective review compare with potential liability for a contemporaneous review?  What are the statutes of limitation for claims?  What special provisions should I consider putting in an engagement letter for different types of non-lending assignments?

 

Course Objectives

 

The objectives of the seminar are to educate appraisers about:

 

•     The most common sources and causes of professional negligence lawsuits against appraisers in connection with non-lending appraisal assignments.

•     The unique liability risks imposed by certain non-lending work.

•     What appraisers can do to minimize liability risk for non-lending work (the emphasis is on better and clearer disclosure and using appropriate provisions in reports and engagement letters).

•     How to deal with common liability threat situations.

•     The role of professional liability insurance.

 


Additional Information

National Disclaimer

This Educational Program was developed by an outside party. The Appraisal Institute Chapter made arrangements for the Third-Party to offer the Program with the intent of addressing topic(s) based on a certain chapter or local need for such topic, solely educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program and does not endorse the Program or its content.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The Appraisal Institute does not publish examination review materials. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.

State Credit

Please note that 100% attendance is required in order to receive any approved state credit or to be awarded AI CE points. It is imperative that you check with your state board for state approval information before completing registration.

Other Information

If you have a disability and require accommodation, please notify the sponsor at least two weeks in advance for reasonable accommodations to be arranged.

The Appraisal Institute reserves the rights to cancel, limit, or reschedule the program and to change instructor assignments and facility locations at any time.