Texas Occupations Code 1103.405 – Professional Standards
(a) Except as provided by Subsection (b), a person who holds a certificate, license, or registration issued under this chapter shall comply with:
(1) the most current edition of the Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation; or
(2) other standards provided by board rule that are at least as stringent as the Uniform Standards of Professional Appraisal Practice.
(b) A certified or licensed appraiser is not required to comply with the standards described by Subsection (a) to provide:
(1) an evaluation of real property described by § 1103.004(4); or
(2) an analysis, assessment, opinion, conclusion, notation, or compilation of data concerning the value of an interest in real property described by § 1103.004(5) for use by a non-bank financial institution.
Terms Used In Texas Occupations Code 1103.405
- Appraisal: A determination of property value.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Property: means real and personal property. See Texas Government Code 311.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Rule: includes regulation. See Texas Government Code 311.005
(c) A document provided under § 1103.004(4) or (5) must contain on the first page of the document the following notice: “This is not an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice.”