Michigan Laws 339.2610 – Licensure as limited real estate appraiser, state licensed real estate appraiser, certified residential real estate appraiser, or certified general real estate appraiser
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 339.2610
- Appraiser: means an individual who is engaged in or offering to engage in the development and communication of an appraisal. See Michigan Laws 339.2601
- AQB criteria: means all of the following, if applicable:
(i) The criteria established by the appraiser qualifications board of the appraisal foundation and in effect on the effective date of the amendatory act that added subparagraph (ii). See Michigan Laws 339.2601Certified general real estate appraiser: means an individual who is licensed under section 2610 to appraise all types of real property, including nonresidential real property involving federally related transactions and real estate related financial transactions. See Michigan Laws 339.2601 Certified residential real estate appraiser: means an individual who is licensed under section 2610 to appraise all types of residential real property involving real estate related financial transactions and federally related transactions as authorized by the regulations of a federal financial institution regulatory agency and resolution trust corporation as well as any nonresidential, nonfederally related transaction for which the individual is qualified. See Michigan Laws 339.2601 State licensed real estate appraiser: means an individual who is licensed under section 2610 to appraise real property, including, but not limited to, residential and nonresidential real property involving federally related transactions and real estate related financial transactions. See Michigan Laws 339.2601
The department shall license as a limited real estate appraiser, a state licensed real estate appraiser, a certified residential real estate appraiser, or a certified general real estate appraiser an individual who is at least 18 years of age, is of good moral character, and provides proof of having completed the minimum education, examination, and experience requirements contained in the AQB criteria for the appropriate license category.