Maine Revised Statutes Title 32 Sec. 14049-B – Appraiser engagement
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Terms Used In Maine Revised Statutes Title 32 Sec. 14049-B
- Appraisal: A determination of property value.
- Appraisal assignment: means an agreement between an appraiser and an appraisal management company to provide an appraisal service. See Maine Revised Statutes Title 32 Sec. 14042
- Appraisal management company: means a person that:
A. See Maine Revised Statutes Title 32 Sec. 14042Appraiser: means a person licensed under chapter 124. See Maine Revised Statutes Title 32 Sec. 14042 Appraiser panel: includes appraisers accepted by an appraisal management company for consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions and appraisers engaged by an appraisal management company to perform one or more appraisals in covered transactions or for secondary mortgage market participants in connection with covered transactions. See Maine Revised Statutes Title 32 Sec. 14042
Prior to placing an appraisal assignment with an appraiser on an appraiser panel, an appraisal management company shall verify that the appraiser receiving the appraisal assignment is licensed under chapter 124. [PL 2017, c. 475, Pt. D, §1 (REEN).]
SECTION HISTORY
PL 2017, c. 270, §1 (NEW). PL 2017, c. 475, Pt. D, §1 (REEN). MRSA T. 32 §14049-K, sub-§1 (RP).