American Society Of Appraisers (ASA)
Definition of "American Society of Appraisers (ASA)"
The American Society of Appraisers, also referred to as ASA, is the largest voluntary membership, a multi-discipline trade association that stands for and promotes its appraiser members. Having been founded in 1936, the American Society of Appraisers is also one of the trade associations, eight in total, that collaborated to launch the Appraisal Foundation responsible for setting specific standards for the profession of real estate valuation.
The journey taken by the American Society of Appraisers transformed the society from its beginning. When it was formed, its official name had been the American Society of Technical Appraisers (ASTA), and in 1939, the Technical Valuation Society (TVS) was also formed. As both societies had the same purpose, they merged into one entity, which is the American Society of Appraisers we have today. Furthermore, in 2017 the ASA merged with the National Association of Independent Fee Appraisers (NAIFA). Through this last venture, the society increased its membership, exceeding 5,500 representatives in around 75 countries.
What does the American Society of Appraisers do?
Because these various societies are consolidated into one singular nonprofit organization, the ASA has a unique position. Gathering appraisers of all disciplines into one organization offers opportunities to cooperate towards the elevation of the appraisal profession standards. This allows appraisers to work with all types of properties: intangible, tangible, real, or personal.
The main goals of the American Society of Appraisers are:
- Cultivates excellence in the appraiser profession through education, accreditation, publication, with a focus on professional ethics;
- Sets and respects the code of ethics and the appraisal practice principles;
- Evaluates educational accomplishments of practicing appraisers;
- Grants professional designations to qualified society members and many more;
- Aims to gain acknowledgment of the appraisal profession from the public and private entities;
- Stimulates development and research in fields related to the appraisal profession.
Popular Real Estate Terms
Right to property depends on some occurrence. ...
Placed by the federal government on a individual's real property for federal estate tax or income tax law violations. In the case of a federal estate tax lien, upon the owner's death, the ...
Increase in the value of property caused by inflation. For example, John buys a home for $150,000. Because of inflation, the home is worth $200,000 five years later. The inflation equity in ...
Articles of personal property installed by a tenant under the terms of a lease for purposes of use in his or her trade or business, Trade fixtures are removable by the tenant before the ...
Individual making the payments in a mortgage or pledging a mortgage or property. ...
A corporation that owns housing units and whose tenants purchase shares in the corporation equivalent to the value of their housing unit. Also called co-ops. ...
Principal highway designed to divert traffic around a major urban area in order to limit congestion and expedite traffic flow. A belt highway is connected to the urban area by main highways ...
The transfer of a property deed from one person to another without publicly recording it. The recording of a deed in a public office gives constructive notice of the act of the sale and ...
Rights granted to owners of property restricted to conservation use, historic preservation, or some other low density function to sell to other landowners allowing them to develop their ...
Have a question or comment?
We're here to help.