Terms Used In North Carolina General Statutes > Chapter 93E > Article 1 - Real Estate Appraiser

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Appraisal: A determination of property value.
• Appraisal assignment: means an engagement for which an appraiser is employed or retained to act, or would be perceived by third parties or the public as acting, as a disinterested third party in rendering an unbiased appraisal. See North Carolina General Statutes 93E-1-4
• Appraisal report: means any communication, written or oral, of an appraisal. See North Carolina General Statutes 93E-1-4
• appraiser: means a person who for a fee or valuable consideration develops and communicates real estate appraisals or otherwise gives an opinion of the value of real estate or any interest therein. See North Carolina General Statutes 93E-1-4
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the North Carolina Appraisal Board established under N. See North Carolina General Statutes 93E-1-4
• Certificate: means that document issued by the North Carolina Appraisal Board evidencing that the person named therein has satisfied the requirements for certification as a certified real estate appraiser and bearing a certificate number assigned by the Board. See North Carolina General Statutes 93E-1-4
• Certificate holder: means a person certified by the Board under the provisions of this Chapter. See North Carolina General Statutes 93E-1-4
• Certified general real estate appraiser: means a person who holds a current, valid certificate as a certified general real estate appraiser issued under the provisions of this Chapter. See North Carolina General Statutes 93E-1-4
• Certified residential real estate appraiser: means a person who holds a current, valid certificate as a certified residential real estate appraiser issued under the provisions of this Chapter. See North Carolina General Statutes 93E-1-4
• Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Docket: A log containing brief entries of court proceedings.
• 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.
• 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 any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
• Foundation: means The Appraisal Foundation established on November 20, 1987, as a not-for-profit corporation under the laws of Illinois. See North Carolina General Statutes 93E-1-4
• Fraud: Intentional deception resulting in injury to another.
• 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.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• License: means that document issued by the North Carolina Appraisal Board evidencing that the person named therein has satisfied the requirements for licensure as a licensed real estate appraiser and bearing a license number assigned by the Board. See North Carolina General Statutes 93E-1-4
• Licensed residential real estate appraiser: means a person who holds a current, valid license as a licensed residential real estate appraiser issued under the provisions of this Chapter. See North Carolina General Statutes 93E-1-4
• Licensee: means a person licensed by the Board under the provisions of this Chapter. See North Carolina General Statutes 93E-1-4
• month: shall be construed to mean a calendar month, unless otherwise expressed; and the word "year" a calendar year, unless otherwise expressed; and the word "year" alone shall be equivalent to the expression "year of our Lord. See North Carolina General Statutes 12-3
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• property: shall include all property, both real and personal. See North Carolina General Statutes 12-3
• real estate appraisal: means an analysis, opinion, or conclusion as to the value of identified real estate or specified interests therein performed for compensation or other valuable consideration. See North Carolina General Statutes 93E-1-4
• Real estate appraising: means the practice of developing and communicating real estate appraisals. See North Carolina General Statutes 93E-1-4
• registration as a trainee: means the document issued by the North Carolina Appraisal Board evidencing that the person named therein has satisfied the requirements of registration as a trainee real estate appraiser and bearing a registration number assigned by the Board. See North Carolina General Statutes 93E-1-4
• Residential real estate: means any parcel of real estate, improved or unimproved, that is exclusively residential in nature and that includes or is intended to include a residential structure containing not more than four dwelling units and no other improvements except those which are typical residential improvements that support the residential use for the location and property type. See North Carolina General Statutes 93E-1-4
• seal: shall be construed to include an impression of such official seal, made upon the paper alone, as well as an impression made by means of a wafer or of wax affixed thereto. See North Carolina General Statutes 12-3
• Service of process: The service of writs or summonses to the appropriate party.
• state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
• Temporary appraiser licensure or certification: means the issuance of a temporary license or certificate by the Board to a person licensed or certified in another state who enters this State for the purpose of completing a particular appraisal assignment. See North Carolina General Statutes 93E-1-4
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• trainee real estate appraiser: means a person who holds a current, valid registration as a trainee real estate appraiser issued under the provisions of this Chapter. See North Carolina General Statutes 93E-1-4
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.