Legal & Regulatory

Tax Map

The municipality's official map dividing land into blocks and lots for assessment purposes. Block-and-lot identifiers from the tax map are how properties are referenced in public records and appraisal reports in many states, including New Jersey.

Related Terms

Lot

A defined parcel of land, typically described by reference to a recorded plat or tax map.

Survey

A licensed surveyor's measurement and mapping of a property's boundaries, improvements, and encroachments.

Plat

A recorded map of a subdivision showing lots, blocks, streets, and easements.

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Uniform Standards of Professional Appraisal Practice (USPAP)

USPAP

The nationally recognized ethical and performance standards for the appraisal profession, established by The Appraisal Foundation.

FIRREA (Financial Institutions Reform, Recovery, and Enforcement Act)

FIRREA

The 1989 federal law that established the modern appraisal regulatory framework, requiring state licensing of appraisers and USPAP compliance for all federally related real estate transactions..

Dodd-Frank Act (Appraisal Provisions)

The 2010 federal financial reform law that included significant appraisal provisions: appraiser independence requirements, AMC registration, customary and reasonable fee mandates, and prohibition of BPOs for origination..

Appraiser Independence

The legal requirement that appraisers must be free from improper influence, coercion, or pressure from parties with a financial interest in the transaction outcome.