Terms Used In Florida Statutes > Chapter 475 - Real Estate Brokers, Sales Associates, Schools, and Appraisers

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Appraisal management company: means a person who, within a 12-month period, oversees an appraiser panel of more than 15 state-certified or state-licensed appraisers in a state, or 25 or more state-certified or state-licensed appraisers in two or more states, and who performs appraisal management services regardless of the use of the term "appraisal management company" "appraiser cooperative" "appraiser portal" "mortgage technology company" or other term. See Florida Statutes 475.611
• Appraisal management services: means the coordination or management of appraisal services for compensation by:
  1. See Florida Statutes 475.611
• Appraisal report: means any communication, written or oral, of an appraisal, appraisal review, appraisal consulting service, analysis, opinion, or conclusion relating to the nature, quality, value, or utility of a specified interest in, or aspect of, identified real property, and includes any report communicating an appraisal analysis, opinion, or conclusion of value, regardless of title. See Florida Statutes 475.611
• Appraisal review: means the act or process of developing and communicating an opinion about the quality of another appraiser's appraisal, appraisal report, or work. See Florida Statutes 475.611
• appraisal services: means the services provided by certified or licensed appraisers or registered trainee appraisers, and includes:
  1. See Florida Statutes 475.611
• Appraisal subcommittee: means the designees of the heads of the federal financial institutions regulatory agencies established by the Federal Financial Institutions Examination Council Act of 1978 (12 U. See Florida Statutes 475.611
• Appraiser: means any person who is a registered trainee real estate appraiser, a licensed real estate appraiser, or a certified real estate appraiser. See Florida Statutes 475.611
• appraiser panel: includes :
  1. See Florida Statutes 475.611
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Articles of incorporation: includes original, amended, and restated articles of incorporation, articles of share exchange, and articles of merger, and all amendments thereto. See Florida Statutes 607.01401
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Automatic renewal commission: means a renewal commission for which the brokerage agreement does not expressly require the broker to perform any additional services in order to receive the renewal commission. See Florida Statutes 475.801
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
• Board: means the Florida Real Estate Appraisal Board established under…. See Florida Statutes 475.611
• Broker: means a person who, for another, and for a compensation or valuable consideration directly or indirectly paid or promised, expressly or impliedly, or with an intent to collect or receive a compensation or valuable consideration therefor, appraises, auctions, sells, exchanges, buys, rents, or offers, attempts or agrees to appraise, auction, or negotiate the sale, exchange, purchase, or rental of business enterprises or business opportunities or any real property or any interest in or concerning the same, including mineral rights or leases, or who advertises or holds out to the public by any oral or printed solicitation or representation that she or he is engaged in the business of appraising, auctioning, buying, selling, exchanging, leasing, or renting business enterprises or business opportunities or real property of others or interests therein, including mineral rights, or who takes any part in the procuring of sellers, purchasers, lessors, or lessees of business enterprises or business opportunities or the real property of another, or leases, or interest therein, including mineral rights, or who directs or assists in the procuring of prospects or in the negotiation or closing of any transaction which does, or is calculated to, result in a sale, exchange, or leasing thereof, and who receives, expects, or is promised any compensation or valuable consideration, directly or indirectly therefor; and all persons who advertise rental property information or lists. See Florida Statutes 475.01
• Broker: means a person who, for another, and for a compensation or valuable consideration directly or indirectly paid or promised, expressly or impliedly, or with an intent to collect or receive a compensation or valuable consideration therefor, appraises, auctions, sells, exchanges, buys, rents, or offers, attempts or agrees to appraise, auction, or negotiate the sale, exchange, purchase, or rental of business enterprises or business opportunities or any real property or any interest in or concerning the same, including mineral rights or leases, or who advertises or holds out to the public by any oral or printed solicitation or representation that she or he is engaged in the business of appraising, auctioning, buying, selling, exchanging, leasing, or renting business enterprises or business opportunities or real property of others or interests therein, including mineral rights, or who takes any part in the procuring of sellers, purchasers, lessors, or lessees of business enterprises or business opportunities or the real property of another, or leases, or interest therein, including mineral rights, or who directs or assists in the procuring of prospects or in the negotiation or closing of any transaction which does, or is calculated to, result in a sale, exchange, or leasing thereof, and who receives, expects, or is promised any compensation or valuable consideration, directly or indirectly therefor; and all persons who advertise rental property information or lists. See Florida Statutes 475.01
• Broker associate: means a person who is qualified to be issued a license as a broker but who operates as a sales associate in the employ of another. See Florida Statutes 475.01
• Broker associate: means a person who is qualified to be issued a license as a broker but who operates as a sales associate in the employ of another. See Florida Statutes 475.01
• Brokerage agreement: means a written contract entered into on or after the effective date of this act between an owner of commercial real estate and a broker that obligates the owner to pay a commission to the broker for licensed services provided by the broker relating to the sale or disposition of the commercial real estate as specified in the contract. See Florida Statutes 475.701
• Brokerage agreement: means a written contract, entered into on or after the effective date of this act, between an owner of commercial real estate and a broker that obligates the owner to pay a commission to the broker for licensed services provided by the broker relating to the leasing of the commercial real estate as specified in the contract. See Florida Statutes 475.801
• Certified general appraiser: means a person who is certified by the department as qualified to issue appraisal reports for any type of real property. See Florida Statutes 475.611
• Certified residential appraiser: means a person who is certified by the department as qualified to issue appraisal reports for residential real property of one to four residential units, without regard to transaction value or complexity, or real property as may be authorized by federal regulation. See Florida Statutes 475.611
• Charity: An agency, institution, or organization in existence and operating for the benefit of an indefinite number of persons and conducted for educational, religious, scientific, medical, or other beneficent purposes.
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Client: means a person who contracts with an appraiser or appraisal management company for the performance of appraisal services. See Florida Statutes 475.611
• Closing: means the delivery, exchange, and release of documents and funds for the completion of a transaction for the disposition of commercial real estate. See Florida Statutes 475.701
• Closing agent: means the person who receives documents and funds for recording and disbursement in closing a transaction for the disposition of commercial real estate. See Florida Statutes 475.701
• Commercial real estate: means a fee simple interest or other possessory estate in real property, except an interest in real property that is:
  (a) Improved with one single-family residential unit or one multifamily structure containing one to four residential units;
  (b) Unimproved and the maximum permitted development is one to four residential units under any restrictive covenants, zoning regulations, or comprehensive plan applicable to that real property; or
  (c) Improved with single-family residential units such as condominiums, townhouses, timeshares, mobile homes, or houses in a subdivision that may be legally sold, leased, or otherwise conveyed on a unit-by-unit basis, regardless of whether these units may be a part of a larger building or parcel containing more than four residential units. See Florida Statutes 475.701
• Commercial real estate: means a fee simple interest or other possessory estate in real property, except an interest in real property that is:
  (a) Improved with one single-family residential unit or one multifamily structure containing one to four residential units;
  (b) Unimproved and the maximum permitted development is one to four residential units under any restrictive covenants, zoning regulations, or comprehensive plan applicable to that real property; or
  (c) Improved with single-family residential units such as condominiums, townhouses, timeshares, mobile homes, or houses in a subdivision that may be legally sold, leased, or otherwise conveyed on a unit-by-unit basis, regardless of whether these units may be a part of a larger building or parcel containing more than four residential units. See Florida Statutes 475.801
• Commission: means any fee or other compensation that an owner agrees to pay a broker for licensed services as specified in a brokerage agreement. See Florida Statutes 475.701
• Commission: means any fee or other compensation that an owner agrees to pay a broker for licensed services as specified in a brokerage agreement. See Florida Statutes 475.801
• Commission: means the Florida Real Estate Commission. See Florida Statutes 475.01
• Commission: means the Florida Real Estate Commission. See Florida Statutes 475.01
• Commission notice: means the written notice claiming a commission made by a broker under…. See Florida Statutes 475.701
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Customer: means a member of the public who is or may be a buyer or seller of real property and may or may not be represented by a real estate licensee in an authorized brokerage relationship. See Florida Statutes 475.01
• Customer: means a member of the public who is or may be a buyer or seller of real property and may or may not be represented by a real estate licensee in an authorized brokerage relationship. See Florida Statutes 475.01
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Days: means calendar days, but if a period would end on a day other than a business day, then the last day of that period shall instead be the next business day. See Florida Statutes 475.701
• Days: means calendar days, but if a period would end on a day other than a business day, the last day of that period shall instead be the next business day. See Florida Statutes 475.801
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the Department of Business and Professional Regulation. See Florida Statutes 475.611
• Department: means the Department of Business and Professional Regulation. See Florida Statutes 475.01
• Dependent: A person dependent for support upon another.
• Direct supervision: means the degree of supervision required of a supervisory appraiser overseeing the work of a registered trainee appraiser by which the supervisory appraiser has control over and detailed professional knowledge of the work being done. See Florida Statutes 475.611
• Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
• Disposition: means a voluntary conveyance or transfer of the title to or other ownership interest in any commercial real estate specified in a brokerage agreement. See Florida Statutes 475.701
• Disputed reserved proceeds: means the portion of the owner's net proceeds reserved by a closing agent under…. See Florida Statutes 475.701
• Donor: The person who makes a gift.
• Employee: includes an officer but not a director. See Florida Statutes 607.01401
• employee: when used in this chapter and in rules adopted pursuant thereto to describe the relationship between a broker and a sales associate, include an independent contractor relationship when such relationship is intended by and established between a broker and a sales associate. See Florida Statutes 475.01
• employee: when used in this chapter and in rules adopted pursuant thereto to describe the relationship between a broker and a sales associate, include an independent contractor relationship when such relationship is intended by and established between a broker and a sales associate. See Florida Statutes 475.01
• Entity: includes corporation and foreign corporation; unincorporated association; business trust, estate, limited liability company, partnership, trust, and two or more persons having a joint or common economic interest; and state, United States, and foreign governments. See Florida Statutes 607.01401
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evaluation: means a valuation permitted by any federal financial institutions regulatory agency appraisal regulations for transactions that do not require an appraisal, as such valuations qualify for an applicable exemption under federal law. See Florida Statutes 475.611
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Federally regulated appraisal management company: means an appraisal management company that is owned and controlled by an insured depository institution, as defined in 12 U. See Florida Statutes 475.611
• Federally related transaction: means any real estate-related financial transaction which a federal financial institutions regulatory agency or the Resolution Trust Corporation engages in, contracts for, or regulates, and which requires the services of a state-licensed or state-certified appraiser. See Florida Statutes 475.611
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• Fiduciary: means a broker in a relationship of trust and confidence between that broker as agent and the seller or buyer as principal. See Florida Statutes 475.01
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• foundation: means The Appraisal Foundation established on November 20, 1987, as a not-for-profit corporation under the laws of Illinois. See Florida Statutes 475.611
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Individual: includes the estate of an incompetent or deceased individual. See Florida Statutes 607.01401
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Interest: means :
  (a) A share in a corporation for profit;
  (b) A membership in a nonprofit corporation;
  (c) A partnership interest in a general partnership, including a limited liability partnership;
  (d) A partnership interest in a limited partnership, including a limited liability limited partnership;
  (e) A membership interest in a limited liability company;
  (f) A share or beneficial interest in a real estate investment trust;
  (g) A member's interest in a limited cooperative association;
  (h) A beneficial interest in a statutory trust, business trust, or common law business trust; or
  (i) A governance interest or distributional interest in another entity. See Florida Statutes 607.01401
• Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
• Involuntarily inactive status: means the licensure status that results when a license is not renewed at the end of the license period prescribed by the department. See Florida Statutes 475.01
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: means a written agreement creating a relationship of landlord and tenant with respect to commercial real estate, such that the tenant acquires from the landlord the right to possess the commercial real estate for a specified period of time. See Florida Statutes 475.801
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legacy: A gift of property made by will.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed appraiser: means a person who is licensed by the department as qualified to issue appraisal reports for residential real property of one to four residential units or on such real estate or real property as may be authorized by federal regulation. See Florida Statutes 475.611
• Lien: A claim against real or personal property in satisfaction of a debt.
• Lien notice: means the written notice of lien made by a broker claiming a commission under…. See Florida Statutes 475.801
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• minor: includes any person who has not attained the age of 18 years. See Florida Statutes 1.01
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Order file: means the documentation necessary to support the performance of appraisal management services. See Florida Statutes 475.611
• Oversight: Committee review of the activities of a Federal agency or program.
• Owner: means a person that is vested with fee simple title or a possessory estate in commercial real estate. See Florida Statutes 475.701
• Owner: means a person that is vested with fee simple title or a possessory estate, including a leasehold, in commercial real estate that is the subject of a lease. See Florida Statutes 475.801
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: includes an individual and an entity. See Florida Statutes 607.01401
• person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• political subdivision: include counties, cities, towns, villages, special tax school districts, special road and bridge districts, bridge districts, and all other districts in this state. See Florida Statutes 1.01
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Principal: means the party with whom a real estate licensee has entered into a single agent relationship. See Florida Statutes 475.01
• Principal: means the party with whom a real estate licensee has entered into a single agent relationship. See Florida Statutes 475.01
• Principal office: means the office (in or out of this state) where the principal executive offices of a domestic or foreign corporation are located as designated in the articles of incorporation or other initial filing until an annual report has been filed, and thereafter as designated in the annual report. See Florida Statutes 607.01401
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Probation officers: Screen applicants for pretrial release and monitor convicted offenders released under court supervision.
• Proceeding: includes a civil suit, a criminal action, an administrative action, and an investigatory action. See Florida Statutes 607.01401
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Quorum: The number of legislators that must be present to do business.
• real estate: means any interest or estate in land and any interest in business enterprises or business opportunities, including any assignment, leasehold, subleasehold, or mineral right; however, the term does not include any cemetery lot or right of burial in any cemetery; nor does the term include the renting of a mobile home lot or recreational vehicle lot in a mobile home park or travel park. See Florida Statutes 475.01
• real estate: means any interest or estate in land and any interest in business enterprises or business opportunities, including any assignment, leasehold, subleasehold, or mineral right; however, the term does not include any cemetery lot or right of burial in any cemetery; nor does the term include the renting of a mobile home lot or recreational vehicle lot in a mobile home park or travel park. See Florida Statutes 475.01
• Real property: means one or more parcels or tracts of land located in this state, including any appurtenances and improvements. See Florida Statutes 475.701
• Real property: means one or more parcels or tracts of land located in this state, including any appurtenances and improvements. See Florida Statutes 475.801
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Registered trainee appraiser: means a person who is registered with the department as qualified to perform appraisal services only under the direct supervision of a certified appraiser. See Florida Statutes 475.611
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Renewal commission: means an additional commission that may become payable to a broker under a brokerage agreement if a lease subject to that brokerage agreement is later renewed or is later modified to expand the leased premises or extend the lease term. See Florida Statutes 475.801
• Sales associate: means a person who performs any act specified in the definition of "broker" but who performs such act under the direction, control, or management of another person. See Florida Statutes 475.01
• Sales associate: means a person who performs any act specified in the definition of "broker" but who performs such act under the direction, control, or management of another person. See Florida Statutes 475.01
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Shareholder: means a record shareholder. See Florida Statutes 607.01401
• Shares: means the units into which the proprietary interests in a corporation are divided. See Florida Statutes 607.01401
• Signature: means personalized evidence indicating authentication of work performed by an appraiser and the acceptance of responsibility for the content of an appraisal, appraisal review, or appraisal consulting service or conclusions in an appraisal report. See Florida Statutes 475.611
• Single agent: means a broker who represents, as a fiduciary, either the buyer or seller but not both in the same transaction. See Florida Statutes 475.01
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Supervisory appraiser: means a certified residential appraiser or a certified general appraiser responsible for the direct supervision of one or more registered trainee appraisers and fully responsible for appraisals and appraisal reports prepared by those registered trainee appraisers. See Florida Statutes 475.611
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Training: means the process of providing for and making available to a registered trainee appraiser, under direct supervision, a planned, prepared, and coordinated program, or routine of instruction and education, in appraisal professional and technical appraisal skills as determined by rule of the board. See Florida Statutes 475.611
• Transaction broker: means a broker who provides limited representation to a buyer, a seller, or both, in a real estate transaction, but does not represent either in a fiduciary capacity or as a single agent. See Florida Statutes 475.01
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustee: A person or institution holding and administering property in trust.
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• Uniform Standards of Professional Appraisal Practice: means the most recent standards approved and adopted by the Appraisal Standards Board of The Appraisal Foundation. See Florida Statutes 475.611
• Valuation services: means services pertaining to aspects of property value and includes such services performed by certified appraisers, registered trainee appraisers, and others. See Florida Statutes 475.611
• Voluntarily inactive status: means the licensure status that results when a licensee has applied to the department to be placed on inactive status and has paid the fee prescribed by rule. See Florida Statutes 475.01
• Work file: means the documentation necessary to support an appraiser's analysis, opinions, and conclusions. See Florida Statutes 475.611
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• writing: includes handwriting, printing, typewriting, and all other methods and means of forming letters and characters upon paper, stone, wood, or other materials. See Florida Statutes 1.01