Tennessee Code 62-39-329 – Appraisal standards
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Terms Used In Tennessee Code 62-39-329
- Appraisal: A determination of property value.
- Appraisal: means the act or process of developing an opinion of value of identified real estate. See Tennessee Code 62-39-102
- Appraisal foundation: means the appraisal foundation incorporated as an Illinois not for profit corporation on November 30, 1987. See Tennessee Code 62-39-102
- Commission: means the real estate appraiser commission established pursuant to §. See Tennessee Code 62-39-102
- Real estate: means an identified parcel or tract of land, including improvements, if any. See Tennessee Code 62-39-102
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
It is the intent of this chapter that real estate appraisals be performed in accordance with generally accepted appraisal standards; therefore, state licensed and/or certified real estate appraisers must comply with the Uniform Standards of Professional Appraisal Practice promulgated by the appraisal standards board of the appraisal foundation and any other duly established standards of the commission. The commission shall not establish any criteria for licensure that are more stringent than the criteria established by the federal appraiser qualification board.