To which types of property does USPAP apply?

The Uniform Standards of Professional Appraisal Practice (USPAP) applies to both tangible and intangible property. This means that appraisers following USPAP guidelines must consider a wide range of property types, including not only real estate like residential and commercial properties but also personal property such as collectibles or business assets. This broad applicability ensures that appraisals conducted for various purposes, such as financing, sales, or taxation, maintain a consistent standard of quality and reliability across all types of property.

In the context of the other options, they each limit the scope of USPAP's applicability. Residential properties and commercial properties relate only to specific segments of real estate but do not encompass the entire range of properties that could be appraised. Similarly, stating that USPAP is limited to land and buildings overlooks the inclusion of other asset categories and personal property, which are also covered by the standards set forth in USPAP. The inclusion of intangible assets highlights the necessity for these standards in a variety of appraisal contexts beyond just physical assets.