12 CFR § 722.104 - Minimum appraisal standards.

---
identifier: "/us/cfr/t12/s722.104"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 722.104 - Minimum appraisal standards."
title_number: 12
title_name: "Banks and Banking"
section_number: "722.104"
section_name: "Minimum appraisal standards."
chapter_name: "NATIONAL CREDIT UNION ADMINISTRATION"
subchapter_number: "A"
subchapter_name: "REGULATIONS AFFECTING CREDIT UNIONS"
part_number: "722"
part_name: "APPRAISALS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1766, 1789, and 3331  Section 722.3(a) is also issued under 15 U.S.C. 1639h."
regulatory_source: "55 FR 30207, July 25, 1990, unless otherwise noted."
cfr_part: "722"
---


# 722.104 Minimum appraisal standards.

For federally related transactions, all appraisals shall, at a minimum:

(a) Conform to generally accepted appraisal standards as evidenced by the Uniform Standards of Professional Appraisal Practice (USPAP) promulgated by the Appraisal Standards Board of the Appraisal Foundation, 1029 Vermont Ave., NW., Washington, DC 20005;

(b) Be written and contain sufficient information and analysis to support the institution's decision to engage in the transaction;

(c) Be subject to appropriate review for compliance with the Uniform Standards of Professional Appraisal Practice.

(d) Analyze and report appropriate deductions and discounts for proposed construction or renovation, partially leased buildings, non-market lease terms, and tract developments with unsold units;

(e) Be based upon the definition of market value as set forth in § 722.2; and

(f) Be performed by State licensed or certified appraisers in accordance with requirements set forth in this subpart.

[60 FR 51894, Oct. 4, 1995, as amended at 85 FR 23917, Apr. 30, 2020. Redesignated at 89 FR 64575, Aug. 7, 2024]