When a Trainee Appraiser and a Supervisory Appraiser collaborate, who must retain custody of the workfile?

In a collaboration between a Trainee Appraiser and a Supervisory Appraiser, the workfile must be retained by one of them, with one taking responsibility for it. This means that while either the Trainee or the Supervisory Appraiser may hold the workfile, there is a clear requirement that one individual is accountable for maintaining it in accordance with regulatory standards.

The importance of this arrangement lies in the need for proper documentation and adherence to appraisal standards. The supervisory role brings a level of experience and oversight that ensures compliance with regulations, while the trainee is in a learning phase and necessitates guidance. The responsibility for the workfile being assigned to one party helps to create clarity and ensures that someone is accountable for the integrity and completeness of the documentation related to the appraisal process.

Other options in the question suggest that one or the other must hold exclusive custody or imply that custody can be shared without responsibility. However, the collaborative nature of their relationship requires that at least one person retains custody to ensure that the workfile is organized, compliant, and can be reviewed as needed. Therefore, this approach promotes better teamwork and accountability in the appraisal process.