What is confidentiality in USPAP?

Prepare for the McKissock Basic Appraisal Principles Test. Study with comprehensive flashcards and thorough multiple choice questions. Each question offers hints and detailed explanations to enhance your readiness for the certification exam!

Multiple Choice

What is confidentiality in USPAP?

Explanation:
Confidentiality means that information obtained in the appraisal process is protected and may be disclosed only with the client’s consent or when required by law. In USPAP, appraisers must guard confidential information and share it only with those who have a legitimate need to know for the assignment or when a legal obligation or regulatory requirement permits or requires disclosure. This protects client privacy and maintains trust in the appraisal process. Disclosing information to arbitrary third parties isn’t allowed, and confidentiality isn’t limited to non-public data—the obligation covers information obtained during the assignment. It also doesn’t mean you can never share updates with the client or others who are entitled to know under consent or law.

Confidentiality means that information obtained in the appraisal process is protected and may be disclosed only with the client’s consent or when required by law. In USPAP, appraisers must guard confidential information and share it only with those who have a legitimate need to know for the assignment or when a legal obligation or regulatory requirement permits or requires disclosure. This protects client privacy and maintains trust in the appraisal process.

Disclosing information to arbitrary third parties isn’t allowed, and confidentiality isn’t limited to non-public data—the obligation covers information obtained during the assignment. It also doesn’t mean you can never share updates with the client or others who are entitled to know under consent or law.

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