Terms Used In Nebraska Statutes > Real Property Appraiser Act

• Acquire: when used in connection with a grant of power or property right to any person shall include the purchase, grant, gift, devise, bequest, and obtaining by eminent domain. See Nebraska Statutes 49-801
• Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
• Action shall: include any proceeding in any court of this state. See Nebraska Statutes 49-801
• Amortization: Paying off a loan by regular installments.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• 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 (1) as a noun, an opinion of value or the act or process of developing an opinion of value or (2) as an adjective, pertaining to appraising and related functions such as real property appraisal practice. See Nebraska Statutes 76-2204
• Appraisal: A determination of property value.
• Appraisal Foundation: means The Appraisal Foundation that was incorporated as an Illinois not-for-profit corporation on November 30, 1987. See Nebraska Statutes 76-2205
• Appraisal review: means (1) as a noun, the act or process of developing an opinion about the quality of a real property appraiser's work that was performed as part of real property appraisal practice or (2) as an adjective, of or pertaining to an opinion about the quality of another real property appraiser's work that was performed as part of real property appraisal practice. See Nebraska Statutes 76-2205.02
• Appraiser Qualifications Board: means the Appraiser Qualifications Board of the Appraisal Foundation. See Nebraska Statutes 76-2205.03
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assignment: means a valuation service that is performed by a real property appraiser as a consequence of an agreement with a client. See Nebraska Statutes 76-2207.01
• Assignment results: means the opinions or conclusions, not limited to value, developed by a real property appraiser when performing valuation services specific to real property appraisal practice. See Nebraska Statutes 76-2207.17
• Attorney: shall mean attorney at law. See Nebraska Statutes 49-801
• Board: means the Real Property Appraiser Board. See Nebraska Statutes 76-2207.18
• Certified general real property appraiser: means a person who holds a valid credential as a certified general real property appraiser issued under the Real Property Appraiser Act. See Nebraska Statutes 76-2207.19
• Certified real property appraiser: means a person who holds a valid credential as a certified general real property appraiser or a valid credential as a certified residential real property appraiser issued under the Real Property Appraiser Act. See Nebraska Statutes 76-2207.20
• Certified residential real property appraiser: means a person who holds a valid credential as a certified residential real property appraiser issued under the Real Property Appraiser Act. See Nebraska Statutes 76-2207.21
• Client: means the person or persons who engage a real property appraiser by employment or contract in a specific assignment whether directly or through an agent. See Nebraska Statutes 76-2207.22
• Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Completed application: means an application for credentialing has been processed, all statutory requirements for a credential to be issued have been met by the applicant, and all required documentation is submitted to the board for final consideration. See Nebraska Statutes 76-2207.23
• Complex residential real property: means residential property in which the property to be appraised, the form of ownership, or the market conditions are complicated or atypical. See Nebraska Statutes 76-2207.24
• Continuance: Putting off of a hearing ot trial until a later time.
• Contract: A legal written agreement that becomes binding when signed.
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Credential: means a registration, license, or certificate. See Nebraska Statutes 76-2207.25
• Credential holder: means (1) any person who holds a valid credential as a trainee real property appraiser, licensed real property appraiser, certified residential real property appraiser, or certified general real property appraiser and (2) any person who holds a temporary credential to engage in real property appraisal practice within this state. See Nebraska Statutes 76-2207.26
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Dependent: A person dependent for support upon another.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) ^{Source: OCC}
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Evaluation assignment: means an assignment that relates to the nature, quality, or utility of identified real estate or identified real property and typically does not include an opinion of value. See Nebraska Statutes 76-2207.28
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
• Fraud: Intentional deception resulting in injury to another.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Instructor: means a person approved by the board that meets or exceeds the instructor requirements specified in the Real Property Appraiser Act and rules and regulations of the board and is responsible for ensuring that the education activity content is communicated to the activity's audience as presented to the board for approval and that the education activity contributes to the quality of real property valuation services provided to the public. See Nebraska Statutes 76-2207.31
• Jurisdiction: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Nebraska Statutes 76-2207.32
• 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.
• Jurisdiction of practice: means any jurisdiction in which an appraiser devotes his or her time engaged in real property appraisal practice. See Nebraska Statutes 76-2212.03
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed residential real property appraiser: means a person who holds a valid credential as a licensed residential real property appraiser issued under the Real Property Appraiser Act. See Nebraska Statutes 76-2213
• Month: shall mean calendar month. See Nebraska Statutes 49-801
• Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• PAREA program: means a practical applications of real estate appraisal program approved by the Appraiser Qualifications Board as prescribed by rules and regulations of the Real Property Appraiser Board. See Nebraska Statutes 76-2213.03
• 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.
• Person: means an individual or a firm, a partnership, a limited partnership, a limited liability company, an association, a corporation, or any other group engaged in joint business activities, however organized. See Nebraska Statutes 76-2213.02
• Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
• Person shall: include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
• 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.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
• Process: shall mean a summons, subpoena, or notice to appear issued out of a court in the course of judicial proceedings. See Nebraska Statutes 49-801
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Quorum: The number of legislators that must be present to do business.
• Real estate: means a parcel or tract of land, including improvements, if any. See Nebraska Statutes 76-2214
• Real property: means one or more defined interests, benefits, or rights inherent in the ownership of real estate. See Nebraska Statutes 76-2214.01
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Real property appraisal practice: means any act or process performed by a real property appraiser involved in developing and reporting an analysis, opinion, or conclusion relating to the specified interests in or aspects of identified real estate or real property or an appraisal review. See Nebraska Statutes 76-2215
• Real property appraiser: means a person who is a credential holder. See Nebraska Statutes 76-2216
• Recess: A temporary interruption of the legislative business.
• Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. ^{Source: FDIC}
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Report: means any communication, written, oral, or by electronic means, of assignment results transmitted to the client or a party authorized by the client upon completion of an assignment. See Nebraska Statutes 76-2216.02
• 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.
• Signature: means personalized evidence indicating authentication of the work performed by the real property appraiser and the acceptance of the responsibility for content, analyses, conclusions, and compliance with the Uniform Standards of Professional Appraisal Practice in a report. See Nebraska Statutes 76-2217.03
• State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trainee real property appraiser: means a person who holds a valid credential as a trainee real property appraiser issued under the Real Property Appraiser Act. See Nebraska Statutes 76-2217.04
• Uniform Standards of Professional Appraisal Practice: means the standards adopted and promulgated by The Appraisal Foundation as the standards existed on January 1, 2021. See Nebraska Statutes 76-2218.02
• United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
• United States shall: include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
• Valuation services: means services pertaining to an aspect of property value, including a service performed by real property appraisers. See Nebraska Statutes 76-2219.01
• Workfile: means data, information, and documentation necessary to support a real property appraiser's opinions and conclusions, and to show compliance with the Uniform Standards of Professional Appraisal Practice. See Nebraska Statutes 76-2219.02
• Year: shall mean calendar year. See Nebraska Statutes 49-801