Who "owns" The "appraisal Report"?

[Tim The Enchanter]

All I care about is I own the fee they pay me.
No refunds.

 

[Meandering]

Great, so when the loan goes belly-up, you own the appraisal, and have all the rights and responsibilities, just like BofA buying smaller bank B, and then being sued for prior acts of Bank B.
Go sue yourself.

You own the appraisal, which are your opinions.

You don't own the loan.

 

[Eli]

Maybe a good question is if we could get more specific on intended use and intended user?

How can the data in the report be used for any other use or user legally?

 

[Eli]

REQUIRED CONDITIONS FOR ANY USE OF THIS REPORT
Any use of this appraisal report constitutes that the Lender/Client and/or intended user has carefully read, acknowledges, understands, accepts and
agrees to all of the following three pages of certifications, disclaimers, clarifications, limiting conditions and notices of the appraiser, as well as those
listed in the additional comments within the report. This appraisal report and all of the appraiser's work in connection with the appraisal assignment
are subject to the limiting conditions and all other terms stated in the report. Any use of the appraisal by any party, regardless of whether such use
is authorized or intended by the appraiser, constitutes acceptance of all such limiting conditions and terms.

Clarification of Item #23 of the certifications listed on the pre-printed part of this report - page 6 of 6.
This certification is NOT to be interpreted as the appraiser is granting permission for use by other parties not identified as the intended user.
This is intended only for the stated intended user and intended use. This report is NOT intended for any purchaser to rely on the appraisal to
influence the purchaser’s decision to buy the appraised property, nor is it intended to influence the homeowner in any decision regarding the
property or financing. Certification #23 applies to the buyer or homeowner only in the sense that they are the mortgagor, therefore they rely on the
appraisal to fulfill the requirements of the lender; however the intended use and user never changes. Other lending institutions may rely on the
report for their requirements, however the intended use and user never changes. Appraisers are not required to adhere to specific assignment
conditions, terms, or requirements that were not disclosed at the time of engagement by the named client or client's agent. In the event that this
appraisal is used by any other secondary lenders that the loan is transferred to or sold to, this appraisal may not adhere to their specific requirements
and/or may not understand the UAD format. The appraiser is not responsible to have met any lender requirements other than those disclosed prior to
completion of the appraisal, nor is the appraiser responsible to clarify the terminology or report format requirements to other parties than the
client/intended user. This appraisal report is intended for the use of the client and other identified intended user(s) listed and once completed cannot
be reassigned or readdressed to another party. No other users are identified, intended or inferred by the appraiser, (including the borrower and/or
homeowner) and no other intent of use for this appraisal is to be inferred. The scope of work is set by the appraiser. Once completed, it cannot be
changed by the appraiser for another lender or use. "Transferring" by one lender to another lender does not also transfer the contractual relationship
between the appraiser and the original client of the appraiser. Nothing set forth in this appraisal should be relied upon for the purpose of determining
the amount or type of insurance coverage to be placed on the subject property or any other purposes other than lending, as defined in this report.
Should any terms and clarifications stated in this report be unacceptable, this report must not be used and a new report with acceptable terms must
be acquired.

These disclosures address intended use and intended user.

 

[Eli]

IMO, some people are just breaking the law in using appraiser's data for uses that are not intended and they are not even intended users. Resguy's disclosures are just spelling that out. He is putting them on notice so to speak that they are breaking the law if they are using his data for unintended uses and they are not intended to be a user of his data.

 

[DWiley]

Some people are just breaking the law in using appraiser's data for uses that are not intended and they are not even intended users, imo.

I am curious - Specifically what data is it that belongs to the appraiser?

 

[Eli]

I am curious - Specifically what data is it that belongs to the appraiser?

That would have to be determined by a court of law. I am not an attorney. I just think Resguy's disclosures are geared towards intended use and intended users, which could be a legal factor. Ownership of rights in this case is above my head. I understand real property rights, but this is way beyond that. I will defer to the lawyers and judges on that.

 

[DWiley]

That would have to be determined by a court of law. I am not an attorney. I just think Resguy's disclosures are geared towards intended use and intended users, which could be a legal factor. Ownership of rights in this case is above my head. I understand real property rights, but this is way beyond that. I will defer to the lawyers and judges on that.

I am confused. How can you assert that people are improperly using an appraiser's data if you cannot say which data is the apprasier's?

 

[Eli]

Dwiley, I tell you who could answer your question is a professional marketing firm with a long track record along the line of copyrights and trademarks and business law in general. Not real estate law but business law. Or any attorney who has specialized in business law.

 

[gregb]

Once the appraisal is submitted to the client, everything contained therein is no longer "owned" by the appraiser. Best hope that the appraiser retains the ownership of the workfile, as several clients are clawing away with claims to the appraiser's workfile. Used to be that possession of a thing was 90% proof of ownership, not so any longer.