Non lending retrospective estate value license limits

[ccpanel]

I have been asked (licensed appraiser in TX) if I can value 17 different land parcels varying from 1 acre to 350 acres with and without improvements.
non-contiguous
not co-dependent
All could be sold individually and could stand alone-they just happen to be owned by the same person.
retrospective to 2022(easy data) DOD for estate tax purposes
I cant find in searching here, general google and TACLB site where I am restricted in not doing this as TACLB says I can appraise vacant land and my only dollar restriction is related to a transaction value and there is zero transaction.
There is no transaction, they are not being bought or sold.
I dont consider it complex-its data, its typical to the area and the mix of bare land and improved land(depending on parcel) is wholly typical in both transactions and surrounding, proximate market.

Is there any TACLB reason for me to NOT do this?

(just for fun-theres a 0.477 acre cemetery parcel they need valued which I will NOT be doing but sorta want to for fun at my own desk without sharing results with ANYONE for the experience... if theres anyone in East TX who wants to play with a cemetery appraisal-I have a client that needs help.)

 

[Mark K]

I believe that the IRS requirements are that the appraiser need to be qualified to do the valuation. Keep in mind that the report may be included with a tax return. However, often times these reports are used by the CPA for the sole purpose of establishing a basis and the report simply goes in a file to be used for cap gains taxes if/when the property is sold in the future.

It also might be used by the family members to distribute the land equally among the heirs and those can get pissy and end up in court. Some might argue that the "transaction" amounts to the distribution of the land. Just be thorough and charge accordingly.

As far as TX, can't help.

 

[ccpanel]

I believe that the IRS requirements are that the appraiser need to be qualified to do the valuation. Keep in mind that the report may be included with a tax return. However, often times these reports are used by the CPA for the sole purpose of establishing a basis and the report simply goes in a file to be used for cap gains taxes if/when the property is sold in the future.

It also might be used by the family members to distribute the land equally among the heirs and those can get pissy and end up in court. Some might argue that the "transaction" amounts to the distribution of the land. Just be thorough and charge accordingly.

As far as TX, can't help.

Based on my years of experience, the variety of appraisals i have done and the types I have done repeatedly, to great extent in both private/lending and public/assessor, I believe I am qualified.

I am assuming that TX has adopted similar standards as other states. When i moved here from my other state, it seemed like a copy/paste as far as state website info was concerned.

As far as future kids issue-valid point. I will be limiting my report severely to just the DOD only.

I am not qualified to do the cemetery-that seems fun as an exercise but not for a client.

 

[Mark K]

As far as future kids issue-valid point. I will be limiting my report severely to just the DOD only.

Not so much future kids as the exiting kids/heirs that may end up contesting the values and fighting over who gets what.

 

[JTip]

22 Tex. Admin. Code § 153.8 - Scope of Practice​

(d) State Licensed Real Estate Appraisers:
(1) may appraise non-complex one-to-four residential units having a transaction value less than $1 million and complex one-to-four residential units having a transaction value less than $400,000;
(2) may appraise vacant or unimproved land for which the highest and best use is for one-to-four unit residential purposes;
(3) may not appraise subdivisions; and
(4) may associate with a state certified general real estate appraiser, who shall sign the appraisal report, to appraise non-residential properties.

 

[Red Flint]

play with a cemetery appraisal

Experienced cemetery appraiser here. Remember to use 'vouchsafe' somewhere in the narrative.

 

[Terrel L. Shields]

A good reason to get your CG is so you can do these kinds of things without question.

 

[George Hatch]

The main thing to remember is that the benchmarks for the work will be what the appraisers would do who normally perform such assignments. Not what a residential appraiser would do who is working beyond the scope of practice for their license. A CG might have the license to do the assignment but that doesn't necessarily mean they have the competency to do it - many don't. They shouldn't be working beyond their competency either.

 

[J Grant]

A good reason to get your CG is so you can do these kinds of things without question.

An appraiser can not just "get" their CG.
They have to apprentice with a CErt General
Are you offering to train anyone?
I did not think so.
I personally am not interested in upgrading to CG at this point in my career, but I have seen cert res appraisers here who want to upgrade asking for a mentor, and they are met mostly with silence.

 

[Terrel L. Shields]

Are you offering to train anyone?

I have trained a CG. Only person who ever asked to be CG. Everyone else just wanted to be a CR.