LD 1437
pg. 3
Page 2 of 14 An Act to Reorganize the Real Estate Appraisers Law Page 4 of 14
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LR 1023
Item 1

 
E.__Environmentally contaminated properties; and

 
F.__Physical characteristics, such as lot size, topography
and building type, that are unusual.

 
8.__Department.__"Department" means the Department of
Professional and Financial Regulation.

 
9.__Noncomplex residential property.__"Noncomplex residential
property" means property that is not defined as complex
residential property in subsection 7.

 
10.__Real estate.__"Real estate" means an identified parcel of
land, including improvements, if any.

 
11.__Real estate appraisal activity.__"Real estate appraisal
activity" means the act or process of making an appraisal of real
property and communicating a report.

 
12.__Real estate appraiser.__"Real estate appraiser" means a
person who engages in real estate appraisal activity for a fee or
other valuable consideration.__"Real estate appraiser" includes
review appraisers and appraisal administrators.

 
13.__Real property.__"Real property" means one or more defined
interests, benefits or rights inherent in the ownership of real
estate.

 
14.__Uniform Standards of Professional Appraisal Practice.__
"Uniform Standards of Professional Appraisal Practice" means
those standards adopted by the appraisal standards board of the
appraisal foundation.

 
§14003.__License required

 
Except as provided in section 14004, it is unlawful for a
person to prepare, for a fee or other valuable consideration, an
appraisal or appraisal report relating to real estate or real
property in this State without first obtaining a real estate
appraisal license.__This section does not apply to individuals
who do not render significant professional assistance in arriving
at a real estate appraisal analysis, opinion or conclusion.__
Nothing in this chapter prohibits any person who is licensed to
practice in this State under any other law from engaging in the
practice for which that person is licensed.

 
§14004.__Exemption

 
Real estate appraisal activity does not include:


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