USPAP True Copy

[PropertyEconomics]

A true copy is a duplicate without alterations. I have always stored in my files a copy in the same format I delivered. I don't think a paper copy has ever met the definition of a true copy of a report delivered as an electronic file. Non-visible content exists in all PDF reports. Both prior to UAD and after UAD I doubt appraisal boards will push the issue. It is only in court that it is likely to be an issue for those changing formats.

Couch .. while what you say may be true ... USPAP does not define true copy nor does it say you have to have a true copy ... only a copy of the REPORT that was delivered ... it may be semantics but when one is before an appraisal board ... the right terminology might be important.

 

[Michigan CG]

I have no clue what an AI Ready file is or an ENV file is..........I send PDFs.

I must be stupid.

 

[Mike Kennedy]

How are you printing a hard copy of the env file? I just print a copy of the AI Ready file.

I meant the AIReady PDF, typed fast - sorry for any confusion.


FNC, Inc. > Products > Property Information > AI Ready

www.fncinc.com/Products/AI_ready.aspx - CachedSimilar
Until AI Ready™, appraisers created their reports using an array of different forms ... and other exhibits), an AI Ready file (sometimes called an ENV file)"

 

[Couch Potato]

Couch .. while what you say may be true ... USPAP does not define true copy nor does it say you have to have a true copy ... only a copy of the REPORT that was delivered ... it may be semantics but when one is before an appraisal board ... the right terminology might be important.

That is certainly true, but the post was from someone in Florida where the law specifically states a "true copy" of the appraisal report is required. Florida has other goodies such as records retention requirement of 5 years from the date of issuance of your certification for all appraisals used as experience for the license. USPAP is just a starting point for requirements.

 

[Rich Heyn]

USPAP does not define "true copy" in the DEFINITIONS section but does say in the Record Keeping section of the ETHICS RULE that "A true copy is a replica of the report transmitted to the client. A photocopy or an electronic coy of the entire signed report transmitted to the client satisfies the requirement of the true copy." The definition of "report" is basically whatever you sent to the client.

So what's the issue here? Why not just keep an electronic copy or what was transmitted to the client and be done with it?

Are there some state boards that have requirements that go beyond that?

 

[PropertyEconomics]

USPAP does not define "true copy" in the DEFINITIONS section but does say in the Record Keeping section of the ETHICS RULE that "A true copy is a replica of the report transmitted to the client. A photocopy or an electronic coy of the entire signed report transmitted to the client satisfies the requirement of the true copy." The definition of "report" is basically whatever you sent to the client.

So what's the issue here? Why not just keep an electronic copy or what was transmitted to the client and be done with it?

Are there some state boards that have requirements that go beyond that?

Rich .. to what degree of redundancy do you keep electronic copies of your appraisal reports? Frankly I do not believe electronic means a great way to reliably store data .. Im just curious as to the level of your electronic redundancy.

 

[Couch Potato]

Rich .. to what degree of redundancy do you keep electronic copies of your appraisal reports? Frankly I do not believe electronic means a great way to reliably store data .. Im just curious as to the level of your electronic redundancy.

Paper is so durable. Do you use archival grade paper for all your files?

USPAP does not define "true copy" in the DEFINITIONS section but does say in the Record Keeping section of the ETHICS RULE that "A true copy is a replica of the report transmitted to the client. A photocopy or an electronic coy of the entire signed report transmitted to the client satisfies the requirement of the true copy." The definition of "report" is basically whatever you sent to the client.

So what's the issue here? Why not just keep an electronic copy or what was transmitted to the client and be done with it?

Are there some state boards that have requirements that go beyond that?

True copy is not defined in USPAP because it is legal term adequately defined in law so no special definition is needed. The whole point of the thread is the fact it is impossible to "photocopy" the "entire report" as it will be sent to the client. I would contend that's technically been true for years for those not sending paper to their clients. As you noted there is no problem simply keeping the report in the same format as was sent to the client, but some people love their paper.

 

[PropertyEconomics]

Paper is so durable. Do you use archival grade paper for all your files?

Im glad you got a laugh tater ... my question was serious ... we have not a single hard drive that works from 8 years ago but yet we have paper files that are nearly 35 years old, still in tact, you can still read the file, etc..

I suppose your office has never had a server or hard drive failure? Count yourself lucky.

 

[Couch Potato]

Im glad you got a laugh tater ... my question was serious ... we have not a single hard drive that works from 8 years ago but yet we have paper files that are nearly 35 years old, still in tact, you can still read the file, etc..

I suppose your office has never had a server or hard drive failure? Count yourself lucky.

Never one where data was lost and ten years of files fit in a single drawer.

 

[PropertyEconomics]

Never one where data was lost and ten years of files fit in a single drawer.

Knock on wood quickly ...... your turn is coming .... I fear!!!!