Montana Code 37-54-506. Appraisal review
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37-54-506. Appraisal review. An employee or independent contractor of the appraisal management company that performs an appraisal review for a property located in this state:
Terms Used In Montana Code 37-54-506
- 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
- Property: means real and personal property. See Montana Code 1-1-205
- 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
(1)must be an appraiser licensed or certified in this state; and
(2)shall comply with the review provisions of the uniform standards of professional appraisal practice.