For Legal Professionals
Do you need a third-party, independent opinion on the real value of a property?
Lawyers count on AIC-designated appraisers—AACI™ and CRA™—for professional, comprehensive and independent opinions of the value of their clients’ real estate.
AIC members are recognized by the courts to provide expert testimony before judicial and quasi-judicial bodies.
When would a legal professional engage an AIC-designated appraiser?
A legal professional would engage an AIC-designated member during:
- Matrimonial disputes
- Bankruptcy proceedings
- Tax fraud
- Property tax appeal
- Partner disputes
- Proceeds of crime
What types of properties can an AIC member appraise?
AIC-designated appraisers can provide valuation services for the following property types:
- Residential—single-family homes, multi-units, recreational, heritage, etc.
- Commercial—office buildings, retail, hotels, storage facilities and other income-based properties
- Industrial—manufacturing, machine shops, etc.
- Institutional—hospitals, schools, churches, publicly-owned property, etc.
- Mining/resource-based—oil and gas, timberland, sand pits, pulp and paper, etc.
- Rural—agricultural, land, winery, orchards, etc.
- Special uses—airports, golf courses, contaminated property, harbor, military facilities, prisons, etc.
What professional standards do AIC-designated appraisers follow?
AIC-designated appraisers are highly-trained and trusted professionals who adhere to the highest standards in the field of appraising: the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP).
CUSPAP align with European Valuation Standards and International Valuation Standards and are recognized internationally as acceptable standards for property valuation. Seven Standards have been developed to guide the professional practice of AIC members:
- Ethics Standard
- Appraisal Standard
- Review Standard
- Consulting Standard
- Reserve Fund Planning Standard
- Machinery and Equipment
- Mass Appraisal