Terms Used In Tennessee Code > Title 62 > Chapter 39 > Part 1 - General Provisions

• Analysis assignment: means an analysis, opinion or conclusion prepared by a real estate appraiser that relates to the nature, quality or utility of identified real estate or identified real property. See Tennessee Code 62-39-102
• Appraisal: A determination of property value.
• Appraisal: means the act or process of developing an opinion of value of identified real estate. See Tennessee Code 62-39-102
• Appraisal assignment: means an engagement for which an appraiser is employed or retained to act, or would be perceived by third parties or the public as acting, as a disinterested third party in rendering an unbiased analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate. See Tennessee Code 62-39-102
• Appraisal report: means any communication, written or oral, of an opinion of value of identified real estate. See Tennessee Code 62-39-102
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Commission: means the real estate appraiser commission established pursuant to §. See Tennessee Code 62-39-102
• 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.
• 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.
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Real estate: means an identified parcel or tract of land, including improvements, if any. See Tennessee Code 62-39-102
• Real estate appraisal activity: means the act or process of making an appraisal of real estate or real property and preparing an appraisal report. See Tennessee Code 62-39-102
• Real estate appraiser: means a person who engages in real estate appraisal activity for a fee or other valuable consideration. See Tennessee Code 62-39-102
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property: means one (1) or more defined interests, benefits and rights inherent in the ownership of real estate. See Tennessee Code 62-39-102
• signed: includes a mark, the name being written near the mark and witnessed, or any other symbol or methodology executed or adopted by a party with intention to authenticate a writing or record, regardless of being witnessed. See Tennessee Code 1-3-105
• Specialized services: means those appraisal services that do not fall within the definition of appraisal assignment. See Tennessee Code 62-39-102
• State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• State certified real estate appraiser: means a person who develops and communicates real estate appraisals and who holds a current, valid certificate issued to the person for either general or residential real estate under this chapter. See Tennessee Code 62-39-102
• Valuation appraisal: refers to an analysis, opinion or conclusion prepared by a real estate appraiser that estimates the value of an identified parcel of real estate or identified real property at a particular point in time. See Tennessee Code 62-39-102
• written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105