Rhode Island General Laws 5-20.7-8. Classes of certification and licensing – Residential and general
(a) There are two (2) classes for state-certified real estate appraisers and two (2) classes of licensed real estate appraisers.
Terms Used In Rhode Island General Laws 5-20.7-8
- Appraisal: A determination of property value.
- Appraisal Foundation: means the Appraisal Foundation incorporated as an Illinois not-for-profit corporation on November 30, 1987. See Rhode Island General Laws 5-20.7-2
- Board: means the real-estate appraisal board established pursuant to the provisions of this chapter. See Rhode Island General Laws 5-20.7-2
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
- Real estate: means an identified parcel or tract of land, including improvements, if any. See Rhode Island General Laws 5-20.7-2
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: means one or more defined interests, benefits, and rights inherent in the ownership of real estate. See Rhode Island General Laws 5-20.7-2
(b) State-certified appraisers.
(1) A state-certified residential real estate appraiser is a person who fulfills the requirements for certification for the appraisal of residential real property as required by the Appraiser Qualifications Board of the Appraisal Foundation.
(2) A state-certified general real estate appraiser is a person who fulfills the requirements for certification for the appraisal of all types of real property.
(c) State-licensed appraisers.
(1) A state-licensed appraiser is a person who fulfills the requirements for licensing for the appraisal of residential property as required by the Appraiser Qualifications Board of the Appraisal Foundation.
(2) A licensed appraiser trainee is an individual who has successfully completed all requisite core courses as required by the Appraiser Qualifications Board of the Appraisal Foundation.
(d) [Deleted by P.L. 2013, ch. 54, § 1 and P.L. 2013, ch. 58, § 1.]
History of Section.
P.L. 1990, ch. 424, § 1; P.L. 1992, ch. 275, § 1; P.L. 1997, ch. 341, § 1; P.L. 1997, ch. 366, § 1; P.L. 2006, ch. 217, § 2; P.L. 2006, ch. 357, § 2; P.L. 2013, ch. 54, § 1; P.L. 2013, ch. 58, § 1; P.L. 2023, ch. 163, § 1, effective June 20, 2023; P.L. 2023, ch. 164, § 1, effective June 20, 2023.