Release of report to Homeowner when client no longer exists

[Elliott]

Carnivore asked, Do you actually agree to open ended contracts?

So you've figured away around Cert 21 & 23? Let me know when the Supreme
Court settles the issue.

"Also of concern is language in #21 and #23 of the Appraiser’s Certification about another lender, other than the appraiser’s lender/client, getting the report. Certification #21 says the lender/client may give the appraisal to another lender, at the request of the borrower, without even having to get the appraiser`s consent. Certification #23 says this other lender "may" rely on the appraisal report. Does that mean that this new lender can also sue the appraiser? Does the appraiser owe a duty to this lender?"

http://www.liability.com/claim_detail.asp?ClaimID=94

 

[Carnivore]

You seem to have read that as an extension of an existing client relationship to others.

I read it as having liability to others as a result of my performance agreement to the client. That does not make them my client, it only means I can not hide behind that veil when it comes to liability.

 

[Elliott]

Carn,
I think we may be drifting a bit....the original post asked, 'Kinda hard to get permission to release a report to a homeowner if that company is no longer in business. The report was completed in 2006. So no imminent funding decision is forthcoming. Curious how other may handle this type of situation."

So are you going to release the 2 year old report or not? I'd tell the HO
to find the client's assigns, have them send me an email requesting the
report, I'd throw in a Gramm-Leech Statement making sure
they were accepting all and complete liability, and then I'd email the
'assign' a copy of the report and they can distribute.

 

[Carnivore]

Carn,
I think we may be drifting a bit....the original post asked, 'Kinda hard to get permission to release a report to a homeowner if that company is no longer in business. The report was completed in 2006. So no imminent funding decision is forthcoming. Curious how other may handle this type of situation."

So are you going to release the 2 year old report or not? I'd tell the HO
to find the client's assigns, have them send me an email requesting the
report, I'd throw in a Gramm-Leech Statement making sure
they were accepting all and complete liability, and then I'd email the
'assign' a copy of the report and they can distribute.

No my Client is dead/DOA/Bankrupt, what ever...they no longer exist.

But,

because the relationship was confidential, I will let a court tell me what to do. I wont help anyone out, I will sit back and continue with my life.

I have no client relationship duty to anyone. I am not responding to anyone unless directed so by a court with jurisdiction.

 

[Elliott]

Carn,
So when the 'consumer' complains to the state board and asks for your report and
workfile, which will now become public record, what are you going to do?

When BofA completes their purchase of CW, is CW dead?

 

[Mike Kennedy]

http://commerce.appraisalfoundation.org/html/USPAP2008/FAQ/faq_167_.htm