What does the law requiring appraisers to keep work files for 10 years indicate about jurisdictional exceptions?

The law requiring appraisers to keep work files for 10 years indicates that jurisdictional exceptions must be documented. This is important because jurisdictional exceptions relate to specific legal provisions that may allow an appraiser to deviate from standard appraisal practices based on local or state laws. Such exceptions cannot be based solely on personal discretion or opinion; they require formal documentation to ensure that the appraiser can justify the deviation from established guidelines.

In general, maintaining work files for a fixed duration demonstrates an emphasis on accountability and transparency in the appraisal process. For appraisers operating under various jurisdictions, this obligation reflects the understanding that any exceptions taken must be properly recorded to support the decisions made during the appraisal process. By documenting these exceptions, appraisers can protect themselves legally and provide evidence that supports their methodology in accordance with local regulations.