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Hot Topics and Myths in Appraiser Liability
May 4, 2019
Local Area Topics
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Savannah Area Realtors
7015 Hodgson Memorial Drive
Sponsor / Contact
The core purpose of this seminar is to educate appraisers about the legal risks they face by using real-world professional liability situations and lawsuits. The seminar is divided into two parts. The first part primarily focuses on liability issues arising from appraisal assignments for lending purposes. The second part focuses on liability stemming from non-lending work, such as expert witness, divorce and tax assignments. These are the kinds of questions answered by the seminar: Who sues appraisers? What do they sue for? When does the FDIC file a lawsuit against an appraiser? Can an appraiser be sued more than five years after the appraisal – i.e., what are the relevant statutes of limitation? How should I handle responding to a subpoena? What effect does a state disciplinary matter have on my potential liability? How long should an appraiser keep a work file? What should go into a work file to help the appraiser in defense of a lawsuit? Do residential or commercial appraisers face more risk? What about review appraisers – do they get sued? What does E&O insurance cover?
The objectives of the seminar are to educate appraisers about:
• The most common sources and causes of professional negligence lawsuits against appraisers.
• The relationship between the USPAP concepts of client/intended user and who can sue an appraiser for negligence.
• The danger areas of appraising with respect to potential liability.
• What appraisers can do to minimize liability risk (the emphasis is on the need for better and clearer disclosure, not disclaimer language).
• How to deal with common liability threat situations.
• The progress of a typical appraiser liability lawsuit, and the most common claims and defenses.
• The importance of the appraiser’s work file and what elements of the work file are most relevant to liability prevention.
• The role of professional liability insurance.
ABOUT THE INSTRUCTOR:
Peter Christensen, General Counsel, LIA Administrators & Insurance Services, Santa Barbara, CA
The instructor is attorney Peter Christensen. Peter is the General Counsel of LIA Administrators & Insurance Services, which provides professional liability insurance to about 20,000 appraisers. LIA's E&O insurance program for appraisers is endorsed by the Appraisal Institute. Peter also maintains LIA's website about appraiser legal issues at www.appraiserlawblog.com. Peter responds to insureds if they have been served with a lawsuit, demand letter, or notified of a disciplinary complaint. Peter is a graduate from UC Berkeley School of Law.
Up To 15 days prior to program start date, $25.00 cancellation fee.
3 - 14 days prior to program start date, $50.00 cancellation fee.
Less than 3 days prior to program start date, forfeit of payment.
Up To 15 days prior to program start date, no transfer fee.
3 - 14 days prior to program start date, $25.00 transfer fee.
Less than 3 days prior to program start date, no transfer allowed.
Enrollment is on a first-come, first served basis. If the education program is filled, e-mail Suzanne Brockway at firstname.lastname@example.org to be placed on a waiting list.
The Savannah Area Chapter Appraisal Institute is not responsible for students' non-refundable airline reservations, lodging, or other expenses.
If you have a disability and require accommodation, please notify the Savannah Area Chapter office at least two weeks in advance and we will arrange for reasonable accommodation.
Enrollment Cancellation Policy:
If a student wishes to cancel enrollment, a cancellation notice must be submitted in writing via email to Suzanne Brockway at email@example.com. A confirmation of the cancellation will be e-mailed to the student once it is processed by the Chapter office. See course details regarding cancellation fees. This confirmation will serve as your receipt.
Program materials will be picked up at the site.
Savannah Board of Realtors, 7015 Hodgson Memorial Dr., Savannah, Georgia, 31406
Phone: (912) 354-1513
Web Site: https://savannaharearealtors.com/contact-us/
Saturday, May 4, 2019
8:30 a.m. - 4:30 p.m. - Class Instruction
Lunch is on your own.
CONTINUING EDUCATION & ATTENDANCE POLICY
The Appraisal Institute and the GA Real Estate Appraisers Board have approved this seminar for 7 hours of CE credit. 7 hours of CE approval with the South Carolina Real Estate Appraisers Boards is pending.
To receive credit, 100% attendance is required for all Appraisal Institute education programs. Students should not be late or leave early; if they are late or leave early, they will not receive credit.
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