USPAP & Disclosure

[Terrel L. Shields]

Right now I am trying to understand the disclosure implications of having my files rifled by some tort lawyer who has demanded every report, every invoice, and every name, date, address and phone number of both borrower and owner that I ever did for a certain client being sued (I am included in the suit as well) between 1992 and present. That is about 400 to 500 appraisals as best I can tell. Does an interrogatory constitute "due process of law"? I feel violated.

 

[Terry Russell]

To me, it would depend on the attitude of the attorney.
1) They can not take anything without a court order.
2) You can have them request each record by specific date.
3) Anything over 5 years may not even need to be retained.
4) You are entitled to due process of law.
5) USPAP is not law. It carries no weight in standard
civil procedure.

It is up to you.,

Terry

 

[Anonymous]

I would cite the new federal confidentiality regulations and demand an order signed by a judge for each file requested other than the ones involved in the legal action.

 

[Terrel L. Shields]

Among the interrogatories asked for are the following

A compiled list of all properties I have appraised for a client for whom I have averaged 60 - 150 appraisals each year. They want the name of the landowner, address and last known phone number as well as the borrower, address, and last known phone number. They also want an copy of each file for each one of those and the invoice for each as well as a published fee schedule.

That is only the beginning but you get the gist.

Ter

 

[TEL2002]

Ter,

Can you give us an idea as to why your client is having to go through this?

My brother is a retire lawyer and one of the things he mentioned to me was that many times the plaintiff will try to bog the other person(s) down with paper work, confusing the issue and making their life miserable...so they will just settle. Maybe two can play that game.

Terry

 

[TEL2002]

Ter,

One last thought. Years ago (1961)a friend (traveling salesman) was called in for an IRS audit. AFter much explaining etc., they demanded all of this receipts for the previous 3 years. He explained that the volume of papers was extraordinary...since he traveled away from home 5 days a week and he had receipts for every dime he ever spent while on the road. They said no problem, we want them all. So, he put them in 3 large boxes, stirred them up real good making sure that the years/months/days were all well mixed up. He then took them to the IRS. They weere upset. His response was, you did not ask for them in particular order, they are all there, you no doubt have the people and equipment to sort it all out. They told him to take his boxes and get out. He never hear from them again.

 

[Terry Russell]

I have a feeling that the client is your primary concern. I can not really elaborate without knowing who the players are and what they want.
Good Luck!
terry

 

[wyecoyote]

Terrel,

Best advice I could give would be contact a lawyer.

Ryan

 

[Terrel L. Shields]

This is in the hands of a lawyer. My client is being sued. I am being sued. THis involves a chicken farm and the chicken farm integrator is being sued. The plaintiffs are trying to drum up a class action, filed a RICO claim, and their charge is that I colluded with the bank to bilk these poor innocent crooks out of their money...money they never invested as the bank loaned them 25,000 more than the sales price of the property. To maintain the independence I always have had, the bank has its lawyers, I have mine, the Company has theirs. I don't even know what they are doing or what their names are.

 

[Austin]

Terrell: You don't even have send them reports over 5 years old so just get a Clinton shreader for 92-97. That should spead things up for you.