Sections
Article 1 General Provisions 32-3601 – 32-3610
Article 2 Registration, Licensure and Certification 32-3611 – 32-3628
Article 3 Regulation 32-3631 – 32-3640
Article 4 Property Tax Agents 32-3651 – 32-3656
Article 5 Appraisal Management Companies 32-3661 – 32-3680

Terms Used In Arizona Laws > Title 32 > Chapter 36

  • 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.
  • 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.
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • 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.
  • Appraisal: means the development of real or personal property valuation or legal classification opinions or conclusions. See Arizona Laws 32-3651
  • Appraisal: A determination of property value.
  • Appraisal: means the act or process of developing an opinion of the value of real property in conformance with the uniform standards of professional appraisal practice published by the appraisal foundation, or any other definition used in state or federal laws. See Arizona Laws 32-3661
  • Appraisal assignment: means an engagement for which a real estate appraiser is employed or retained to act, or would be perceived by third parties or the public in 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 Arizona Laws 32-3601
  • Appraisal foundation: means the appraisal foundation incorporated as an Illinois not-for-profit corporation on November 30, 1987. See Arizona Laws 32-3601
  • Appraisal management company: means a corporation, partnership, sole proprietorship, subsidiary or other business entity that directly or indirectly performs appraisal management services, regardless of the use of the term "appraisal management company" "mortgage technology provider" "lender processing services" "lender services" "loan processor" "mortgage services" "real estate closing services provider" "settlement services provider" or "vendor management company" or any other term, and that does any of the following:

    (a) Administers an appraiser panel of at least sixteen state-licensed or state-certified appraisers in one state who are independent contractors or at least twenty-five state-licensed or state-certified appraisers in at least two states who perform real property appraisal services in this state for clients. See Arizona Laws 32-3661

  • Appraisal management services: means any of the following:

    (a) Recruiting, selecting and retaining appraisers. See Arizona Laws 32-3661

  • Appraisal report: means any communication, written or oral, of an appraisal. See Arizona Laws 32-3601
  • Appraisal review: means the act or process of developing and communicating an opinion about the quality of another appraiser's work that was performed as part of an appraisal assignment, but does not include an examination of an appraisal for grammatical, typographical or other similar errors that do not communicate an opinion related to the appraiser's data collection, analysis, opinions, conclusions, estimate of value or compliance with the uniform standards of professional appraisal practice. See Arizona Laws 32-3661
  • Appraisal review: means the act of reviewing or the report that follows a review of an appraisal assignment or appraisal report in which a real estate appraiser forms an opinion as to the adequacy and appropriateness of the report being reviewed. See Arizona Laws 32-3601
  • Appraisal standards board: means the appraisal standards board appointed by the board of trustees of the appraisal foundation to develop, interpret and amend the uniform standards of professional appraisal practice. See Arizona Laws 32-3601
  • Appraisal subcommittee: means the subcommittee of the federal financial institutions examination council created pursuant to 12 United States Code section 3310 and chapter 34A, as amended. See Arizona Laws 32-3601
  • Appraiser: means a person who is licensed or certified as an appraiser pursuant to this chapter and who performs valuation services competently and in a manner that is independent, impartial and objective. See Arizona Laws 32-3661
  • Appraiser qualifications board: means the appraiser qualifications board that is appointed by the board of trustees of the appraisal foundation to establish the minimum education, experience and examination requirements for real estate appraisers. See Arizona Laws 32-3601
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Complex one to four residential units: means property that is atypical for the marketplace. See Arizona Laws 32-3601
  • Controlling person: means any of the following:

    (a) An owner, officer or director of a corporation, partnership or other business entity seeking to offer appraisal management services in this state. See Arizona Laws 32-3661

  • Course approval: means the act of the superintendent reviewing course materials to form an opinion as to the adequacy and appropriateness of the course for licensing pursuant to section 32-3613, certification pursuant to section 32-3614 and continuing education as prescribed in section 32-3625 in accordance with the appraiser qualifications board and this chapter. See Arizona Laws 32-3601
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Daytime: means the period between sunrise and sunset. See Arizona Laws 1-215
  • Department: means the department of financial institutions. See Arizona Laws 32-3601
  • 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
  • Felony: A crime carrying a penalty of more than a year in prison.
  • 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.
  • Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • 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.
  • 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.
  • Misdemeanor: Usually a petty offense, a less serious crime than a felony, punishable by less than a year of confinement.
  • Month: means a calendar month unless otherwise expressed. See Arizona Laws 1-215
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: includes an affirmation or declaration. See Arizona Laws 1-215
  • Peace officers: means sheriffs of counties, constables, marshals, policemen of cities and towns, commissioned personnel of the department of public safety, personnel who are employed by the state department of corrections and the department of juvenile corrections and who have received a certificate from the Arizona peace officer standards and training board, peace officers who are appointed by a multicounty water conservation district and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by community college district governing boards and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by the Arizona board of regents and who have received a certificate from the Arizona peace officer standards and training board, police officers who are appointed by the governing body of a public airport pursuant to section 28-8426 and who have received a certificate from the Arizona peace officer standards and training board, peace officers who are appointed by a private postsecondary institution pursuant to section 15-1897 and who have received a certificate from the Arizona peace officer standards and training board and special agents from the office of the attorney general, or of a county attorney, and who have received a certificate from the Arizona peace officer standards and training board. See Arizona Laws 1-215
  • Personal property: includes money, goods, chattels, things in action and evidences of debt. See Arizona Laws 1-215
  • 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.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
  • Property tax agent: means an individual who is designated by a person or is an employee of an entity designated as an agent pursuant to section 42-16001, who acts on behalf of a person who owns, controls or possesses property valued by a county assessor or the department of revenue and who receives a fee for the analysis of any matter relating to the review of the valuation or legal classification of the person's property before the assessor, the county or state board of equalization or the department of revenue. See Arizona Laws 32-3651
  • Property tax agent: means an individual who is designated by a person or is an employee of an entity designated as an agent pursuant to section 42-16001, who acts on behalf of a person who owns, controls or possesses property valued by a county assessor and who receives a fee for the analysis of any matter relating to the review of the valuation of the person's property before the assessor. See Arizona Laws 32-3601
  • Real estate: means an identified parcel or tract of land, including improvements, if any. See Arizona Laws 32-3601
  • real estate appraisal: means a statement that is independently and impartially prepared by an individual setting forth an opinion as to the market value of real property as of a specific date and supported by the presentation and analysis of relevant market information. See Arizona Laws 32-3601
  • Real property: means one or more defined interests, benefits and rights inherent in the ownership of real estate. See Arizona Laws 32-3601
  • Real property appraisal services: means the practice of developing an opinion of the value of real property in conformance with the uniform standards of professional appraisal practice published by the appraisal foundation. See Arizona Laws 32-3661
  • Registered trainee appraiser: means a person who meets both of the following requirements:

    (a) Is registered with the superintendent and meets the appraiser qualifications board's qualifications for trainee appraisers to perform appraisal services only under the direct supervision of a certified appraiser who has met the minimum criteria to be a supervisory appraiser. See Arizona Laws 32-3601

  • Relocation management company: means a business entity whose exclusive business services are not for mortgage purposes and include the relocation of employees as an agent or contractor for the employer or the employer's agent for the purposes of determining an anticipated sales price, as defined by the worldwide employee relocation council, of the residence of an employee being relocated by the employer in the course of its business. See Arizona Laws 32-3661
  • 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.
  • Standards of professional appraisal practice: means the uniform standards of professional appraisal practice adopted by the superintendent. See Arizona Laws 32-3601
  • 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
  • Superintendent: means the superintendent of financial institutions. See Arizona Laws 32-3601
  • Supervisory appraiser: means a state-certified appraiser who has a supervisory appraiser designation and who:

    (a) Has been in good standing for the last three years in the jurisdiction in which the registered trainee appraiser practices. See Arizona Laws 32-3601

  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Uniform standards of professional appraisal practice: means the uniform standards of professional appraisal practice promulgated by the appraisal foundation and adopted pursuant to this chapter. See Arizona Laws 32-3661
  • Value: means the monetary relationship between properties and those who buy, sell or use those properties. See Arizona Laws 32-3601
  • Wilfully: means , with respect to conduct or to a circumstance described by a statute defining an offense, that a person is aware or believes that the person's conduct is of that nature or that the circumstance exists. See Arizona Laws 1-215