A corporation, partnership or other business entity may provide appraisal services in connection with transactions related to this chapter if the appraisal is prepared by individuals who are licensed or certified in accordance with this chapter. An individual who is not a state-licensed or state-certified appraiser may assist in the preparation of an appraisal if both of the following apply:
Terms Used In Arizona Laws 32-3624
- Appraisal: A determination of property value.
- 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.
- 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.
- State-licensed or state-certified appraiser: means a person who develops and communicates appraisals and who holds a current, valid license or certificate issued under this chapter. See Arizona Laws 32-3601
1. The assistant is under the direct supervision of a state-licensed or state-certified appraiser.
2. The final appraisal document is approved and signed by an individual who is licensed or certified.