Montana Code 37-54-301. Certification — use of term — standards of practice
37-54-301. Certification — use of term — standards of practice. (1) A person may not represent to the public that the person is a certified real estate appraiser unless the person is certified under this chapter.
Terms Used In Montana Code 37-54-301
- Appraisal: A determination of property value.
- Appraisal: means the practice of developing an opinion of the value of real property in conformance with the uniform standards of professional appraisal practice as developed by the appraisal foundation. See Montana Code 37-54-102
- Appraiser: means an individual who holds a license or certification to complete an appraisal assignment in the state where the real property that is the subject of the appraisal assignment is located. See Montana Code 37-54-102
- Certified real estate appraiser: means a person who develops and communicates real estate appraisals and who has a valid real estate appraisal certificate issued under 37-54-305. See Montana Code 37-54-102
- 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.
- 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.
- Person: means an individual, firm, partnership, association, corporation, or other business entity. See Montana Code 37-54-102
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Writing: includes printing. See Montana Code 1-1-203
(2)Only a certified real estate appraiser may prepare and sign a certified appraisal report relating to real estate or real property in this state. If an appraisal report is prepared, signed, and certified by a certified real estate appraiser, a person licensed under this chapter who assisted in the preparation of the appraisal may cosign the appraisal report.
(3)The term “certified real estate appraiser” may not be used to describe a firm, partnership, corporation, group, or anyone other than an individual certificate holder. However, a certified real estate appraiser may develop and communicate an appraisal on behalf of a firm, partnership, corporation, or group.
(4)Whenever an appraisal or appraiser report is identified by the certified real estate appraiser as “certified”, the appraiser shall indicate in writing the class of certification the appraiser holds.