WeVote
Log In

Bill

Bill

HD 1079

An Act updating real estate appraiser record retention requirements

194th Legislature (2025-2026) Introduced by Dan Hunt

Massachusetts bill updates how long real estate appraisers must retain their records, affecting appraisal documentation storage requirements and industry compliance practices.

0
WeVote Research Nonpartisan
Bill Summary · HD 1079

Legislative bill overview

HD 1079 modifies the record retention requirements that real estate appraisers in Massachusetts must follow. The bill updates how long appraisers must keep documentation related to their appraisals and related business records. This is a technical regulatory update to align with current industry practices or address administrative gaps.

Why is this important

Real estate appraisers handle sensitive financial documentation and their records are critical for property transactions, mortgage lending, tax assessments, and legal disputes. Clear retention requirements protect consumers, lenders, and appraisers by establishing transparent expectations about document preservation and accessibility. Updating outdated timelines can reduce unnecessary storage burdens while ensuring adequate protection periods remain.

Potential points of contention

  • Duration specificity: The bill may shorten or lengthen retention periods, affecting whether appraisers maintain records long enough for disputes, refinancing, or estate matters that may arise years later
  • Compliance costs: Changing requirements could impose new costs on appraisers for implementing different storage systems or cloud solutions if timelines shift significantly
  • Consumer protection gap: If retention periods are reduced, consumers or lenders may struggle to access historical appraisals needed to challenge valuations or verify lending practices

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

Sign in to ask a question.