Nevada Revised Statutes 318.5121 – Appraisers: Procedures for selection; disclosure statements; prohibitions
1. The board of trustees shall adopt by resolution the procedures for creating and maintaining a list of appraisers qualified to conduct appraisals of real property offered for sale by the board. The list must:
Terms Used In Nevada Revised Statutes 318.5121
- Appraisal: A determination of property value.
- county: includes Carson City. See Nevada Revised Statutes 0.033
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
- population: means the number of people in a specified area as determined by the last preceding national decennial census conducted by the Bureau of the Census of the United States Department of Commerce pursuant to Section 2 of Nevada Revised Statutes 0.050
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustees: means the members of a board. See Nevada Revised Statutes 318.020
(a) Contain the names of all persons qualified to act as a general appraiser in the same county as the real property that may be appraised; and
(b) Be organized at random and rotated from time to time.
2. An appraiser chosen pursuant to subsection 1 must provide a disclosure statement which includes, without limitation, all sources of income that may constitute a conflict of interest and any relationship with the real property owner or the owner of an adjoining real property.
3. An appraiser shall not perform an appraisal on any real property for sale by the board of trustees if:
(a) The appraiser has an interest in the real property or an adjoining property;
(b) The real property is located in a county whose population is 52,000 or more and any person who is related to the appraiser has an interest in the real property or an adjoining property and the relationship between the appraiser and the person is within the third degree of consanguinity or affinity; or
(c) The real property is located in a county whose population is less than 52,000 and any person who is related to the appraiser has an interest in the real property or an adjoining property and the relationship between the appraiser and the person is within the second degree of consanguinity or affinity.