Definition: The nonprofit organization whose independent boards establish USPAP and minimum qualification criteria for real property appraisers within the federal appraisal framework.
Example
An appraiser follows USPAP issued by the Appraisal Standards Board and meets applicable state credential requirements.
Keep the distinction clear
The Foundation is not the state licensing agency and does not itself issue a Florida appraiser license. Its boards and the federal Appraisal Subcommittee have different roles.
Related terms
Uniform Standards of Professional Appraisal Practice (USPAP) ยท State-Certified Appraiser
Keep studying
References: The Appraisal Foundation
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