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Bill

H 405

An Act updating real estate appraiser record retention requirements

194th Legislature (2025-2026) Introduced by Shirley Arriaga and 1 co-sponsor

Massachusetts updates real estate appraiser record retention requirements to modify documentation standards for the appraisal profession.

Read second and ordered to a third reading
0
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Bill Summary · H 405

Legislative bill overview

H 405 updates Massachusetts requirements for how long real estate appraisers must retain their records. The bill modifies existing record-keeping standards that govern the appraisal profession, though the specific retention periods or changes are not detailed in the legislative action summary provided.

Why is this important

Record retention requirements affect appraisers' operational costs, compliance burden, and their ability to defend past valuations in disputes or legal proceedings. Clear standards protect consumers by ensuring documentation exists for transaction audits while balancing business practicality for appraisers.

Potential points of contention

  • Cost burden on small appraisers: Longer retention periods increase storage and administrative costs, potentially disadvantaging independent appraisers versus larger firms with established compliance infrastructure
  • Clarity on retention methods: Disagreement over whether digital storage, physical files, or both are acceptable, affecting compliance costs and accessibility
  • Retroactive application: Whether updated requirements apply to records already created under old standards, creating unexpected compliance obligations

Compiled from official sources — confirm details with the bill’s official record.

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