Indiana Code 25-34.1-11-12. Appraisal reviews
Current as of: 2023 | Check for updates
|
Other versions
Sec. 12. (a) As used in this section, “appraisal review” means the USPAP Standard 3 process of developing and communicating an opinion about the quality of an independent real estate appraiser‘s work that is performed as part of an appraisal assignment made by an appraisal management company. However, the term does not include:
(2) a quality control examination for completeness.
(1) an examination of an appraisal solely for grammatical errors, typographical errors, or similar errors; or
Terms Used In Indiana Code 25-34.1-11-12
- appraisal: has the meaning set forth in Indiana Code 25-34.1-11-1
- Appraisal: A determination of property value.
- Broker: means a person who:
Indiana Code 25-34.1-1-2
- License: means a broker license issued under this article and which is not expired, suspended, or revoked. See Indiana Code 25-34.1-1-2
- Real estate: means any right, title, or interest in real property. See Indiana Code 25-34.1-1-2
- real estate appraiser: means a person who:
Indiana Code 25-34.1-11-6
(b) An individual who performs an appraisal review must hold a license or certificate under IC 25-34.1-3-8 or a license as a real estate broker under IC 25-34.1.
As added by P.L.77-2010, SEC.2.