Massachusetts General Laws ch. 112 sec. 178 – Classification of real estate appraisers; applications
Section 178. There shall be four classes of real estate appraisers as follows:
Terms Used In Massachusetts General Laws ch. 112 sec. 178
- Appraisal: A determination of property value.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) The state-certified general real estate appraiser classification, which shall consist of persons meeting the requirements for certification relating to the appraisal of all types of real property and passing a state administered examination, which requirements and examination are, at a minimum, consistent with the requirements and examination of the Appraisal Qualifications Board of the Appraisal Foundation for that category.
(2) The state-certified residential real estate appraiser classification, which shall consist of persons meeting the requirements for certification relating to the appraisal of certain residential real property and passing a state administered examination, which requirements and examination are, at a minimum, consistent with the requirements and examination of the Appraisal Qualifications Board of the Appraisal Foundation for that category.
(3) The state-licensed real estate appraiser classification, which shall consist of persons meeting the requirements established by the board for licensing pursuant to this chapter and passing a state administered examination, which requirements and examination are, at a minimum, consistent with and equivalent to the requirements of Title XI and any guidelines issued thereunder by the Federal Financial Institutions Examination Council or its Federal Appraisal Subcommittee.
(4) Real estate appraisal trainee classification, which shall consist of persons authorized only to assist a state-certified general real estate appraiser, state-certified residential real estate appraiser or state-licensed real estate appraiser in the performance of an appraisal assignment. Such real estate appraisal trainee shall obtain a trainee license and shall perform such functions as are consistent with regulations established by the board governing this category of licensure; provided, however, that such regulations are not inconsistent with the requirements of Title XI and any guidelines issued thereunder by the Federal Financial Institutions Examination Council or its Federal Appraisal Subcommittee.
The application for original certification or licensing, renewal certification or licensing and examination shall specify the classification of certification or licensure being applied for and previously granted.