Appraisal Organizations and Land Trust Alliance Solidify Relationship, Develop Certificate Program

The Appraisal Institute, American Society of Appraisers (ASA), and American Society of Farm Managers and Rural Appraisers (ASFMRA) will jointly implement new programs
The Appraisal Institute, American Society of Appraisers (ASA), and American Society of Farm Managers and Rural Appraisers (ASFMRA) will jointly implement new programs

RISMEDIA, November 2, 2006?Three professional appraisal organizations in the United States and the Land Trust Alliance (LTA) announced a formal agreement to help ensure the quality of appraisals used in connection with conservation easements.

The centerpiece of the agreement will be a new certificate program for appraisers, which will raise the bar for easement appraisals and increase understanding about the appraisal process for such easements. The Appraisal Institute, American Society of Appraisers (ASA), and American Society of Farm Managers and Rural Appraisers (ASFMRA) will jointly implement the new programs.

?Our organizations have worked successfully together over the past year to address concerns over the quality of appraisals and the management of the appraisal process by donors and donees of conservation easements,? said Don Kelly, the Appraisal Institute?s chief external relations officer. We are committed to this relationship as quality services will provide the public with greater confidence in the integrity of the process for accepting these important donations.

The memorandum emphasizes a commitment to work together on education, publications and guidelines relating to the valuation of conservation easements. These easements are restrictions that limit future use of a property to conservation or preservation purposes. The first product of this relationship is a certificate program on conservation easement valuation for real estate appraisers currently scheduled for release in early 2007.

This certificate program will assist land trusts in identifying qualified appraisers in compliance with the recently enacted Pension Protection Act (H.R. 4), which requires appraisals for non-cash charitable contributions to be performed in conformance with generally accepted appraisal standards and performed by a ?qualified appraiser,? as defined by the act. The new definition recognizes professionally designated appraisers or those meeting IRS requirements, and requires appraisers to present verifiable education and experience of conservation easements.

?Conservation easements have been an increasingly effective tool for private landowners who want to conserve their land,? said Jim Wyerman, spokesman for the Land Trust Alliance. We applaud this initiative to protect the public interest.

The Appraisal Institute, ASA and ASFMRA, which represent more than 25,000 appraisers in the United States, participate in joint comment letters and testimony before Congress and federal agencies.

For more information regarding the Appraisal Institute, visit www.appraisalinstitute.org. For more information on the American Society of Appraisers, visit www.appraisers.org. For more information on ASFMRA, visit www.asfmra.org. For more information about the Land Trust Alliance, visit www.lta.org.