Equine Appraisals: Who, What, When, Why?
TASA ID: 14386
Who:
One should seek a certified equine appraiser. Individuals certified though the American Society of Equine Appraisers (ASEA) follow Uniform Standards of Professional Appraisers Practice (USPAP) guidelines. “The ASEA is diligent in its efforts to uphold the USPAP. These standards are endorsed and used by professional real estate and personal property appraisers nationwide. https://www.equineappraiser.com/index.html. Prior to selecting an appraiser ask for the appraiser’s credentials. An appraiser should keep all information obtained from an appraisal client confidential. If you require an appraiser with expertise in a specific discipline or breed, ensure the appraiser has expertise in those areas of the equine industry.
What:
An equine appraisal is a document prepared by a credentialed individual to determine the value of the equine(s) in question. Definition of an appraisal: an independent, impartial and objective relative estimate of value based on facts. A bound technical report should be provided to the client by the appraiser.
When:
An equine appraisal may be conducted anytime an individual or group of individuals seek an impartial professional determination of value.
Why:
There are many reasons why one would need a professional valuation of an equids’ value. The following are examples of various needs or situations of a certified appraisal. Need is not limited to these examples:
Fair Market Valuation (Pre-purchase, Sales Evaluation, Collateral when securing a loan)
Replacement Cost (Example: Determine value of a deceased animal)
Projected Income Analysis (usually projecting income potential a stallion or mare)
I.R.S. (Audits, Tax Deductions, Charitable Donations)
Insurance Policy
Litigation (Divorce, Settlements, Expert Witness)
Bankruptcy
Estate Planning
Pedigree Analysis
The author, TASA ID#: 14386 has been a certified equine appraiser since 1994, she has appraised many different breeds and disciplines. She has presented seminars and written articles regarding this subject over the past 20 years.
TASA Article Disclaimer
This article discusses issues of general interest and does not give any specific legal or business advice pertaining to any specific circumstances. Before acting upon any of its information, you should obtain appropriate advice from a lawyer or other qualified professional.
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