Vermont Statutes Title 26 Sec. 3312
Terms Used In Vermont Statutes Title 26 Sec. 3312
- Act: means the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Pub. See
- Appraisal: A determination of property value.
- Appraisal: means an analysis, opinion, or conclusion relating to the value of specified interests in or aspects of identified real estate or identified real property. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- real estate appraiser: means a person licensed under this chapter. See
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 3312. Prohibitions; penalty; exemption
(a) Unless licensed in accordance with the provisions of this chapter, a person shall not:
(1) perform an appraisal in a federally related transaction when a licensed or certified appraiser is required by the Act; or
(2) use in connection with his or her name any letters, words, or insignia indicating that he or she is a State certified or licensed real estate appraiser.
(b) An individual who violates a provision of subsection (a) of this section shall be subject to the penalties provided in 3 V.S.A. § 127.
(c) A registered appraisal management company shall not be required to be licensed in order to acquire and provide finished appraisals to third parties. (Added 1989, No. 264 (Adj. Sess.), § 1; amended 1993, No. 217 (Adj. Sess.), § 2; 2007, No. 29, § 48; 2009, No. 103 (Adj. Sess.), § 41; 2019, No. 30, § 21.)