Section 160-A. Definitions  


Latest version.
  • As  used  in  this  article the following terms
      shall mean:
        1."Analysis" is a study of real estate or  real  property  other  than
      estimating value.
        2.  "Appraisal"  or "real estate appraisal" means an analysis, opinion
      or conclusion relating to the  nature,  quality,  value  or  utility  of
      specified  interests  in,  or  aspects  of,  identified  real estate. An
      appraisal may be classified by subject matter into either a valuation or
      an analysis.
        3. "Appraisal report" means any written communication of an appraisal.
        4. "Board" means the state board of real estate appraisal  established
      pursuant  to  the  provisions  of  section  one  hundred sixty-c of this
      article.
        5. (a) "Certified appraisal" or "certified appraisal report" means  an
      appraisal or appraisal report given or signed and certified as such by a
      certified  real  estate  appraiser.    When  identifying an appraisal or
      appraisal  report  as  "certified",  the  state  certified  real  estate
      appraiser must indicate which type of certification is held. A certified
      appraisal or appraisal report represents to the public that it meets the
      appraisal standards defined in this article.
        (b)  "Licensed  appraisal"  or  "licensed  appraisal  report" means an
      appraisal or appraisal report given or signed and authenticated as  such
      by  a licensed real estate appraiser. A licensing appraisal or appraisal
      report represents to the public that it meets the appraisal standards as
      prescribed by the board.
        6. (a) "State certified real estate  appraiser"  means  a  person  who
      develops and communicates real estate appraisal and who holds a current,
      valid certificate issued to him or her for either general or residential
      real estate under the provisions of this article.
        (b) "State licensed real estate appraiser" means a person who develops
      and  communicates real property appraisals and who holds a current valid
      license issued to him or her for residential  real  property  under  the
      provisions of this article.
        (c)  "State  licensed  real estate appraiser assistant" means a person
      who assists and is supervised by a state licensed real estate  appraiser
      or  state  certified real estate appraiser and who holds a current valid
      license issued to him or her under the provisions of this article.
        7. "Department" shall mean the department of state.
        8."Real estate" means an identified parcel or tract of land, including
      improvements, if any.
        9. "Real property" means one or more defined interests,  benefits  and
      rights inherent in the ownership of real estate.
        10.  "Valuation"  is  an  estimate of the value of real estate or real
      property.