The following words and terms, when used in this chapter, shall
have the following meanings, unless the context clearly indicates
(1)ACE--Appraiser Continuing Education.
(2)Act--The Texas Appraiser Licensing and Certification
(3)Administrative Law Judge--A judge employed by the
State Office of Administrative Hearings (SOAH).
(4)Analysis--The act or process of providing information,
recommendations or conclusions on diversified problems in real estate
other than estimating value.
(5)Applicant--A person seeking a certification, license,
approval as an appraiser trainee, or registration as a temporary out-of-state
appraiser from the Board.
(6)Appraisal practice--Valuation services performed
by an individual acting as an appraiser, including but not limited
to appraisal and appraisal review.
(7)Appraisal report--A report as defined by and prepared
under the USPAP.
(8)Appraisal Standards Board--The Appraisal Standards
Board (ASB) of the Appraisal Foundation, or its successor.
(9)Appraisal Subcommittee--The Appraisal Subcommittee
(ASC) of the Federal Financial Institutions Examination Council or
(10)Appraiser Qualifications Board--The Appraiser
Qualifications Board (AQB) of the Appraisal Foundation, or its successor.
(11)Appraiser trainee--A person approved by the Board
to perform appraisals or appraiser services under the active, personal
and diligent supervision and direction of the supervisory appraiser.
(12)Board--The Texas Appraiser Licensing and Certification
(13)Certified General Appraiser--A certified appraiser
who is authorized to appraise all types of real property.
(14)Certified Residential Appraiser--A certified appraiser
who is authorized to appraise one-to-four unit residential properties
without regard to value or complexity.
(15)Classroom course--A course in
which the instructor and students interact face to face, in real time
and in the same physical location.
|(15)] Classroom hour--Fifty
minutes of instruction out of each sixty-minute segment of actual
classroom session time.
(17)[ (16)] Client--Any party
for whom an appraiser performs an assignment.
(18)[ (17)] College--Junior or
community college, senior college, university, or any other postsecondary
educational institution established by the Texas Legislature, which
is accredited by the Commission on Colleges of the Southern Association
of Colleges and Schools or like commissions of other regional accrediting
associations, or is a candidate for such accreditation.
(19)[ (18)] Commissioner--The
commissioner of the Texas Appraiser Licensing and Certification Board.
(20)[ (19)] Complainant--Any
person who has made a written complaint to the Board against any person
subject to the jurisdiction of the Board.
(21)[ (20)] Complex appraisal--An
appraisal in which the property to be appraised, the form of ownership,
market conditions, or any combination thereof are atypical.
(22)[ (21)] Continuing education
cycle--the period in which a license holder must complete continuing
education as required by the AQB.
(23)[ (22)] Council--The Federal
Financial Institutions Examination Council (FFIEC) or its successor.
(24)[ (23)] Day--A calendar day
unless clearly indicated otherwise.
(25)[ (24)] Distance education--Any
educational process based on the geographical separation of student
and instructor, as defined by the AQB. Distance education includes
synchronous delivery, when the instructor and student interact simultaneously
online; asynchronous delivery, when the instructor and student interaction
is non-simultaneous; and hybrid or blended course delivery that allows
for both in-person and online interaction, either synchronous or asynchronous.
[ that provides a reciprocal environment where the student
has verbal or written communication with an instructor.].
(26)[ (25)] Feasibility analysis--A
study of the cost-benefit relationship of an economic endeavor.
(27)[ (26)] Federal financial
institution regulatory agency--The Board of Governors of the Federal
Reserve System, the Federal Deposit Insurance Corporation, the Office
of the Comptroller of the Currency, the Office of Thrift Supervision,
the National Credit Union Administration, or the successors of any
of those agencies.
(28)[ (27)] Federally related
transaction--Any real estate-related transaction that requires the
services of an appraiser and that is engaged in, contracted for, or
regulated by a federal financial institution regulatory agency.
(29)[ (28)] Foundation--The Appraisal
Foundation (TAF) or its successor.
[(29) Fundamental real estate appraisal
course--Those courses approved by the Appraiser Qualifications Board
as qualifying education.]
(30)Inactive certificate or license--A general certification,
residential certification, or state license which has been placed
on inactive status by the Board.
(31)License--The whole or a part of any Board permit,
certificate, approval, registration or similar form of permission
required by law.
(32)License holder--A person certified, licensed,
approved, authorized or registered by the Board under the Texas Appraiser
Licensing and Certification Act.
(33)Licensed Residential Appraiser--A licensed appraiser
who is authorized to 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 $400,000
(34)Licensing--Includes the Board processes respecting
the granting, disapproval, denial, renewal, certification, revocation,
suspension, annulment, withdrawal or amendment of a license.
(35)Market analysis--A study of market conditions
for a specific type of property.
(36)Nonresidential real estate appraisal course--A
course with emphasis on the appraisal of nonresidential real estate
properties which include, but are not limited to, income capitalization,
income property, commercial appraisal, rural appraisal, agricultural
property appraisal, discounted cash flow analysis, subdivision analysis
and valuation, or other courses specifically determined by the Board.
(37)Nonresidential property--A property which does
not conform to the definition of residential property.
(38)Party--The Board and each person or other entity
named or admitted as a party.
(39)Person--Any individual, partnership, corporation,
or other legal entity.
(40)Personal property--Identifiable tangible objects
and chattels that are considered by the general public as being "personal,"
for example, furnishings, artwork, antiques, gems and jewelry collectibles,
machinery and equipment; all tangible property that is not classified
as real estate.
(41)Petitioner--The person or other entity seeking
an advisory ruling, the person petitioning for the adoption of a rule,
or the party seeking affirmative relief in a proceeding before the
(42)Pleading--A written document, submitted by a party
or a person seeking to participate in a case as a party, that requests
procedural or substantive relief, makes claims, alleges facts, makes
a legal argument, or otherwise addresses matters involved in the case.
(43)Practical Applications of Real
Estate Appraisal (PAREA)--Training Programs approved by the AQB that
utilize simulated experience training and serve as an alternative
to the traditional Supervisor/Trainee experience model.
(44)Qualifying real estate appraisal
course--Those courses approved by the Appraiser Qualifications Board
as qualifying education.
(45)[ (43)] Real estate--An identified
parcel or tract of land, including improvements, if any.
(46)[ (44)] Real estate appraisal
experience--Valuation services performed as an appraiser or appraiser
trainee by the person claiming experience credit. Significant real
property appraisal experience requires active participation; mere
observation of another appraiser's work is not real estate appraisal
(47)[ (45)] Real estate-related
financial transaction--Any transaction involving: the sale, lease,
purchase, investment in, or exchange of real property, including an
interest in property or the financing of property; the financing of
real property or an interest in real property; or the use of real
property or an interest in real property as security for a loan or
investment including a mortgage-backed security.
(48)[ (46)] Real property--The
interests, benefits, and rights inherent in the ownership of real
(49)[ (47)] Record--All notices,
pleadings, motions and intermediate orders; questions and offers of
proof; objections and rulings on them; any decision, opinion or report
by the Board; and all staff memoranda submitted to or considered by
(50)[ (48)] Report--Any communication,
written or oral, of an appraisal, review, or analysis; the document
that is transmitted to the client upon completion of an assignment.
(51)[ (49)] Residential property--Property
that consists of at least one but not more than four residential units.
(52)[ (50)] Respondent--Any person
subject to the jurisdiction of the Board, licensed or unlicensed,
against whom any complaint has been made.
(53)[ (51)] Supervisory Appraiser--A
certified general or residential appraiser who is designated as a
supervisory appraiser, as defined by the AQB, for an appraiser trainee.
The supervisory appraiser is responsible for providing active, personal
and diligent supervision and direction of the appraiser trainee.
(54)[ (52)] Trade Association--A
nonprofit voluntary member association or organization:
(A)whose membership consists primarily of persons
who are licensed as appraisers and pay membership dues to the association
(B)that is governed by a board of directors elected
by the members; and
(C)that subscribes to a written code of professional
conduct or ethics.
(55)[ (53)] USPAP--Uniform Standards
of Professional Appraisal Practice adopted by the Appraisal Standards
Board of the Appraisal Foundation.
(56)[ (54)] Workfile--Documentation
necessary to support an appraiser's analysis, opinions, and conclusions,
and in compliance with the record keeping provisions of USPAP.
The agency certifies that legal counsel has
reviewed the proposal and found it to be within the
legal authority to adopt.
Filed with the Office
of the Secretary of State on May 6, 2022
Texas Appraiser Licensing and Certification Board
Earliest possible date of adoption: June 19, 2022
For further information, please call: (512) 936-3652