Archive | October, 2015

EDPL SECTION 701: WHAT IS THE BASE FOR COMPARISON?

New York’s statute allowing reimbursement for legal and appraisal fees in eminent domain proceedings is Section 701 of the Eminent Domain Procedure Law.  The statute provides as follows: In instances where the order or award is substantially in excess of the amount of the condemnor’s proof and where deemed necessary by the court for the condemnee to achieve just and adequate compensation, the court, upon application notice, and opportunity for hearing, may in its discretion, award to the condemnee an additional amount, separately computed and stated, for actual and necessary… read more

Posted in Additional Allowances, Eminent Domain Abuse
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Appraisal Standards Board Modifications To USPAP 2016-2017

There have been several important modifications to USPAP.  The Record Keeping Rule was modified.  We have written about the obligation of an appraiser to maintain copies of all reports transmitted to a client.  (Drafts are required to be retained under Appraisal Standards, September 18, 2015). The Record Keeping Rule requires a workfile for each appraisal.  The workfile must include: true copies of any all written reports, documented on any type of media. (A true copy is a replica of the report transmitted to the client.  A photocopy or an electronic… read more

Posted in Appraisers, Cross Examination, Published Articles, USPAP, Work file
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