The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise: (1) - (27) (No change.) (28)Inactive certificate or license--A general certification, residential certification, or state license which has been placed on inactive status by the board. (29)[(28)] License--The whole or a part of any board permit, certificate, approval, registration or similar form of permission required by law. (30)[(29)] Licensee--A person certified, licensed, approved, authorized or registered by the board under the Texas Appraiser Licensing and Certification Act. (31)[(30)] Licensing--Includes the board processes respecting the granting, disapproval, denial, renewal, certification, revocation, suspension, annulment, withdrawal or amendment of a license. (32)[(31)] Limited appraisal--An appraisal in which the departure rule is invoked. (33)[(32)] Market analysis--A study of market conditions for a specific type of property. (34)[(33)] Non-residential real estate appraisal course--A course with emphasis on the appraisal of non-residential 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. (35)[(34)] Nonresidential property--A property which does not conform to the definition of residential property. (36)[(35)] Party--The board and each person or other entity named or admitted as a party. (37)[(36)] Person--An individual. (38)[(37)] 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. (39)[(38)] 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 board. (40)[(39)] Provisional license--A license issued under the Texas Appraiser Licensing and Certification Act, §1103.208 [§9A], and §153.16 of this title (relating to Provisional License), to individuals who have met the educational and examination requirements for licensing but who have not met the experience requirements. (41)[(40)] Real estate--An identified parcel or tract of land, including improvements, if any. (42)[(41)] 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. (43)[(42)] Real property--The interests, benefits, and rights inherent in the ownership of real estate. (44)[(43)] 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 the board. (45)[(44)] 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. (46)[(45)] Residential property--Property that consists of at least one but not more than four residential units. (47)[(46)] Respondent--Any person or other entity subject to the jurisdiction of the board against whom any complaint has been made. (48)[(47)] Restricted use appraisal report--A written report as defined by and prepared under the USPAP. (49)[(48)] Review--The act or process of critically studying a report prepared by another. (50)[(49)] Self-contained appraisal report--A written report as defined by and prepared under the USPAP. (51)[(50)] State certified real estate appraiser--A person certified under the Texas Appraiser Licensing and Certification Act. (52)[(51)] State licensed real estate appraiser--A person licensed under the Texas Appraiser Licensing and Certification Act. (53)[(52)] Summary appraisal report--A written report as defined by and prepared under the USPAP. (54)[(53)] Workfile--documentation necessary to support an appraiser's analysis, opinions, and conclusions, and in compliance with the Records Keeping section of the Ethics Rule of USPAP.
This agency hereby certifies that the proposal has been
reviewed by legal counsel and found to be within the agency's legal authority
to adopt.
Filed with the Office of
the Secretary of State on July 10, 2003
TRD-200304177 Renil C. Linér
Commissioner
Texas Appraiser Licensing and Certification Board
Earliest possible date of adoption: August 24, 2003
For further information, please call: (512) 465-3950
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