Terms Used In Vermont Statutes > Title 26 > Chapter 69 - Real Estate Appraisers

• Act: means the Federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Pub. See
• 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: 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
• Appraisal management company: means an entity that acts as a broker in acquiring finished appraisals from real estate appraisers licensed under this chapter and that supplies the appraisals to third parties. See
• AQB: means the Appraisal Qualifications Board of the Appraisal Foundation as referenced in the Act. See
• ASC: means the Appraisal Subcommittee of the Federal Financial Institutions Examination Council created pursuant to the Act. See
• biennially: shall mean the year in which a regular session of the General Assembly is held. See
• Break-open ticket: means a lottery utilizing a card or ticket of the so-called pickle card, jar ticket, or break-open variety commonly bearing the name "Lucky 7" "Nevada Club" "Victory Bar" "Texas Poker" "Triple Bingo" or any other name. See
• Commissioner: means Commissioner of Motor Vehicles unless otherwise stated. See
• Commissioner: means the Commissioner of Liquor and Lottery. See
• Contract: A legal written agreement that becomes binding when signed.
• Department: means Department of Motor Vehicles unless otherwise stated. See
• Director: means the Director of the Office of Professional Regulation. See
• Distributor: means a person that purchases break-open tickets from a manufacturer and sells or distributes break-open tickets at wholesale in Vermont. See
• 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.
• Fees: shall mean earnings due for official services, aside from salaries or per diem compensation. See
• 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.
• following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Law enforcement officer: means a person designated in subdivision 4(11) of this title and includes deputy State game wardens and auxiliary State Police officers. See
• Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
• Manufacturer: means a person that designs, assembles, fabricates, produces, constructs, or otherwise prepares a break-open ticket for sale to a distributor. See
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Nonprofit organization: means a nonprofit corporation that is qualified for tax exempt status under I. See
• Office: means the Office of Professional Regulation. See
• Operate: includes an attempt to operate and shall be construed to cover all matters and things connected with the presence and use of snowmobiles whether they be at motion or rest. 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
• Person: means an individual, partnership, firm, corporation, association, or other entity. See
• Privilege to operate: includes the privilege of a nonresident to operate a motor vehicle within the State and includes the privilege of a resident to obtain a license. See
• real estate: shall include lands, tenements, and hereditaments and all rights thereto and interests therein, and pews or slips in places of public worship shall be treated as real estate. See
• real estate appraiser: means a person licensed under this chapter. See
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• seal: shall include an impression of the official seal made upon paper alone or by means of a wafer or wax affixed thereto. See
• 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.
• Snowmobile: means a self-propelled vehicle intended for off-road travel primarily on snow, having a curb weight of not more than 793. 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
• Statute: A law passed by a legislature.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.