West Virginia Code 30-38-17 – Standards of professional appraisal practice
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Each real estate appraiser licensed or certified under this act shall comply with generally accepted standards of professional appraisal practice and generally accepted ethical rules to be observed by a real estate appraiser. Generally accepted standards of professional appraisal practice are currently evidenced by the uniform standards of professional appraisal practice promulgated by the appraisal foundation.
Terms Used In West Virginia Code 30-38-17
- Appraisal: A determination of property value.
- Appraisal: means an analysis, opinion, or conclusion prepared by a real estate appraiser relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real estate or identified real property. See West Virginia Code 30-38-3
- Appraisal foundation: means the appraisal foundation established on November 30, 1987, as a not-for-profit corporation under the laws of Illinois. See West Virginia Code 30-38-3
- Real estate: means an identified parcel or tract of land, including improvements, if any. See West Virginia Code 30-38-3
- Real estate appraiser: means a person who engages in real estate appraisal activity for a fee or other valuable consideration. See West Virginia Code 30-38-3