Louisiana Revised Statutes 37:3399 – A.(1) The legislature hereby recognizes the present shortage and declining number of registered and licensed appraisers in Louisiana and hereby declares its intent to reduce any unne
Terms Used In Louisiana Revised Statutes 37:3399
- Appraisal: A determination of property value.
- AQB: means the Appraiser Qualifications Board of TAF created in accordance with Title XI of FIRREA. See Louisiana Revised Statutes 37:3392
- Board: means the Louisiana Real Estate Appraisers Board established pursuant to the provisions of this Chapter. See Louisiana Revised Statutes 37:3392
- certified residential appraiser: includes but is not limited to the authority to appraise vacant or unimproved land utilized for the purposes of one to four family residential units or for which the highest and best use is for one to four family residential units; however, such authority shall not include the authority to appraise any subdivision for which a development analysis or development appraisal is necessary. See Louisiana Revised Statutes 37:3392
- 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.
- Licensed residential appraiser: means any person licensed by the board whose authority to appraise real property is limited to the appraisal of noncomplex one to four residential units having a transaction value of less than one million dollars and of complex one to four residential units having a transaction value of less than four hundred thousand dollars in accordance with the Real Property Appraiser Qualification Criteria. See Louisiana Revised Statutes 37:3392
- PAREA: means or refers to any Practical Applications of Real Estate Appraisal training program created or implemented in accordance with the Real Property Appraiser Qualification Criteria developed and approved by the AQB, to provide an alternate pathway for applicants to obtain licensure as a licensed residential appraiser or as a certified residential appraiser without training as a trainee appraiser, subject to the direct control and supervision of a supervisory appraiser. See Louisiana Revised Statutes 37:3392
- real estate: means immovable property as defined by Civil Code Article 462 et seq. See Louisiana Revised Statutes 37:3392
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real Property Appraiser Qualification Criteria: means the qualifying criteria regarding the minimum education, experience, and examination requirements for real estate appraisers, as established by the AQB. See Louisiana Revised Statutes 37:3392
- Supervisory appraiser: means a certified residential appraiser or certified general appraiser registered by the board to supervise one or more trainee appraisers and who satisfies the applicable minimum qualifications required by the Real Property Appraiser Qualification Criteria including but not limited to the following:
(a) The supervisory appraiser shall have been licensed and in good standing with any competent appraisal licensing jurisdiction for at least three years. See Louisiana Revised Statutes 37:3392
A.(1) The legislature hereby recognizes the present shortage and declining number of registered and licensed appraisers in Louisiana and hereby declares its intent to reduce any unnecessary barriers to licensure as a real property appraiser, including but not limited to the practical barriers caused by the related shortage of supervisory appraisers in the state.
(2) Further, the legislature recognizes that the AQB has created and authorized implementation of Practical Applications of Real Estate Appraisal (PAREA) training programs, which shall utilize simulated experience training to provide an alternative path to licensure as a real property appraiser without the necessity of obtaining experience or supervision directly from a supervisory appraiser.
B.(1) Accordingly, nothing in this Chapter shall be construed to prohibit an applicant from submitting an official PAREA program completion certificate to evidence satisfactory completion of all experience necessary for licensure as either a licensed residential appraiser or a certified residential appraiser in accordance with the qualifications required by the Real Property Appraiser Qualification Criteria.
(2) An applicant who has fully completed an authorized PAREA program shall apply for licensure either as a licensed residential appraiser or as a certified residential appraiser on a form prescribed by the board and obtain board approval of the application prior to conducting appraisal activity in this state.
Acts 2022, No. 547, §1, eff. June 17, 2022.