Part 3 - Accounting, Records and Reporting Requirements

Division 4 - Requirements for Real Estate Appraisers

Appraisal Records

110(1) A real estate appraiser shall keep and have available at his registered business office in Alberta all supporting documentation for each appraisal service performed in Alberta.
110 (1.1) Where an appraiser is employed or contracted by a third party, the appraiser must ensure that their employment agreement does not conflict or in any way alter the requirements under subsection (1) and under section 77 (2.2) of these Rules.
110(2) An appraiser shall keep and maintain all records, including any service agreement, work files and notes, in the appraisal file.
110(3) The records, accounts and supporting documents in relation to each appraisal assignment must identify each transaction by a sequential code system and must contain the following:
  (a) any service agreement;
  (b) work files and notes;
  (c) the appraisal report; and
  (d) data or documentation to support values of adjustment entries.
110(4) A real estate appraiser shall keep the records of its business with respect to appraisal services in Alberta separate from those that pertain to any other business.
  Oct 1/06

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