Indiana Code 25-34.1-11-3. “Appraisal management services”
(1) To recruit, qualify, verify licensing or certification, or negotiate fees and service level expectations with independent real estate appraisers on behalf of a person seeking an appraisal.
Terms Used In Indiana Code 25-34.1-11-3
- appraisal: has the meaning set forth in Indiana Code 25-34.1-11-1
- Appraisal: A determination of property value.
- person: means an individual engaged in a trade or business, an association, a partnership, a limited partnership, a limited liability company, a corporation, or a similar entity. See Indiana Code 25-34.1-11-5
- 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
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(3) To track and determine the status of orders for appraisals.
(4) To conduct quality control of a completed appraisal before delivery of the appraisal to the client who ordered the appraisal.
(5) To provide a completed appraisal performed by a real estate appraiser to one (1) or more clients.
(b) The term does not include transportation or communication of an appraisal or order for an appraisal without concern for the appraisal information in the appraisal or the order for an appraisal, including transportation or communication by the United States Postal Service, a delivery company, a courier, or an Internet service provider.
As added by P.L.77-2010, SEC.2.