(a) A state licensed or certified real estate appraiser shall retain the following records for five (5) years or for at least two (2) years after the disposition of any civil, criminal or administrative proceeding in which testimony was given about an appraisal assignment or appraisal report, whichever period expires last:

Terms Used In Tennessee Code 62-39-332

  • Appraisal: A determination of property value.
  • Appraisal: means the act or process of developing an opinion of value of identified real estate. See Tennessee Code 62-39-102
  • Commission: means the real estate appraiser commission established pursuant to §. See Tennessee Code 62-39-102
  • Real estate: means an identified parcel or tract of land, including improvements, if any. See Tennessee Code 62-39-102
  • Real estate appraiser: means a person who engages in real estate appraisal activity for a fee or other valuable consideration. See Tennessee Code 62-39-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(1) Originals and true copies of all engagement letters and written contracts engaging the appraiser’s services for real property appraisal work; and
(2) All reports and support data assembled and formulated by the appraiser in preparing the report.
(b) The five-year period for the retention of records shall commence on the date that the appraiser submits the appraisal to the client.
(c) All records required to be maintained under this chapter shall be made available by the state licensed or certified real estate appraiser for inspection and copying by the commission on reasonable notice to the appraiser.
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