Indiana Code 25-34.1-11-13.3. Engaging a real estate appraiser to perform appraisal; proposed contract required; contents; acceptance
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Sec. 13.3. (a) Before an appraisal management company may engage a real estate appraiser to perform an appraisal under this chapter, the appraisal management company shall provide the real estate appraiser with a proposed contract to perform the appraisal. The proposed contract must include the following:
(2) Information delineating the work to be completed.
(1) The order for appraisal.
Terms Used In Indiana Code 25-34.1-11-13.3
- appraisal: has the meaning set forth in Indiana Code 25-34.1-11-1
- Appraisal: A determination of property value.
- appraisal management company: means a person that, for compensation, acts as a third party intermediary by contracting with independent real estate appraisers to perform appraisals for other persons. See Indiana Code 25-34.1-11-2
- Contract: A legal written agreement that becomes binding when signed.
- 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
(3) The date when the real estate appraiser must complete the appraisal.
(4) The terms and conditions for the payment of the real estate appraiser for the appraisal.
(b) A real estate appraiser may accept a proposed contract that is offered and signed, manually or electronically, by the appraisal management company by:
(1) signing a written contract and delivering the signed contract to the appraisal management company; or
(2) accepting the contract electronically through an electronic mail, facsimile transmission, or digital image to the appraisal management company.
As added by P.L.145-2018, SEC.1.