N.Y. Executive Law 160-K – Experience requirement
§ 160-k. Experience requirement. 1. An original certification of a state certified real estate appraiser, or an original license of a state licensed real estate appraiser, shall not be issued to any person who does not possess the equivalent of two years of appraisal experience in real property appraisal as defined by the board supported by adequate written reports. Such experience may include fee and staff appraisal, ad valorem tax appraisal, review appraisal, appraisal analysis, highest and best use analysis, feasibility analysis or study, and teaching of appraisal courses at a university, college, or junior college when such courses have a duration of not less than ten weeks.
Terms Used In N.Y. Executive Law 160-K
- Analysis: is a study of real estate or real property other than estimating value. See N.Y. Executive Law 160-A
- Appraisal: A determination of property value.
- Appraisal report: means any written communication of an appraisal. See N.Y. Executive Law 160-A
- Board: means the state board of real estate appraisal established pursuant to the provisions of section one hundred sixty-c of this article. See N.Y. Executive Law 160-A
- Department: shall mean the department of state. See N.Y. Executive Law 160-A
- Oath: A promise to tell the truth.
- Real estate: means an identified parcel or tract of land, including improvements, if any. See N.Y. Executive Law 160-A
- real estate appraisal: means an analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate. See N.Y. Executive Law 160-A
- State certified real estate appraiser: means a person who develops and communicates real estate appraisal and who holds a current, valid certificate issued to him or her for either general or residential real estate under the provisions of this article. See N.Y. Executive Law 160-A
- State licensed real estate appraiser: means a person who develops and communicates real property appraisals and who holds a current valid license issued to him or her for residential real property under the provisions of this article. See N.Y. Executive Law 160-A
2. A person who is not a state certified real estate appraiser under this article may assist a state certified real estate appraiser in the preparation of an appraisal, provided that he or she is actively and personally supervised by the state certified real estate appraiser and provided that any appraisal report is reviewed and signed by the supervising state certified appraiser.
3. Each applicant for certification or license shall furnish under oath a detailed listing of the real estate appraisal reports for each year for which experience is claimed by the applicant. Upon request, the applicant shall make available to the department for examination, a sample of appraisal reports which the applicant has prepared in the course of his or her appraisal practice.
4. No state certified real estate appraiser shall supervise more than three licensed real estate appraiser assistants.