| (a) Certified General Real Estate Appraisers:
(1) may appraise of all types of real property without regard
to transaction value or complexity; and
(2) are bound by the Competency Rule and all other provisions
of the Uniform Standards of Professional Appraisal Practice (USPAP) in effect
at the time of the appraisal.
(b) Certified Residential Real Estate Appraisers:
(1) may appraise one-to-four residential units without regard
to transaction value or complexity;
(2) may appraise vacant or unimproved land for which the highest
and best use is for one-to-four family purposes;
(3) may not appraise subdivisions;
(4) may associate with a state certified general real estate
appraiser, who shall sign the appraisal report, to appraise non-residential
properties; and
(5) are bound by the Competency Rule and all other provisions
of the USPAP in effect at the time of the appraisal.
(c) State Licensed Real Estate Appraisers:
(1) may appraise non-complex one-to-four residential units
having a transaction value less than $1 million and complex one-to-four residential
units having a transaction value less than $250,000;
(2) may appraise vacant or unimproved land for which the highest
and best use is for one to four family purposes;
(3) may not appraise subdivisions;
(4) may associate with a state certified general real estate
appraiser, who shall sign the appraisal report, to appraise non-residential
properties; and
(5) are bound by the Competency Rule and all other provisions
of the USPAP in effect at the time of the appraisal.
(d) Provisional Licensed Real Estate Appraisers:
(1) may appraise the same types of properties as a State Licensed
Real Estate Appraiser; and
(2) are bound by the Competency Rule and all other provisions
of the USPAP in effect at the time of the appraisal.
(e) Appraiser Trainees:
(1) may appraise those properties, under the active, personal
and diligent supervision of their sponsoring certified appraiser, which the
supervising certified appraiser sponsor is permitted to appraise; and
(2) shall be subject to the USPAP in effect at the time of
the appraisal.
|
