Utah Code 61-2g-401. State-certified and state-licensed appraisers — Restrictions on use of terms — Conduct prohibited or required — Trainee
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Terms Used In Utah Code 61-2g-401
- Appraisal: A determination of property value.
- Appraisal: means an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of a specified interest in, or aspect of, identified real estate or identified real property. See Utah Code 61-2g-102
- Appraisal report: means a communication, written or oral, of an appraisal. See Utah Code 61-2g-102
- Board: means the Real Estate Appraiser Licensing and Certification Board that is established in Section 61-2g-204. See Utah Code 61-2g-102
- Certified appraisal report: means a written or oral appraisal report that is certified by a state-certified general appraiser or state-certified residential appraiser. See Utah Code 61-2g-102
- Concurrence: means that the entities that are given a concurring role jointly agree to an action. See Utah Code 61-2g-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.
- Credential: means a state-issued registration, license, or certification that allows an individual to perform any act or service that requires licensure or certification under this chapter. See Utah Code 61-2g-102
- Division: means the Division of Real Estate of the Department of Commerce. See Utah Code 61-2g-102
- 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 :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- Real estate: means an identified parcel or tract of land including improvements if any. See Utah Code 61-2g-102
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Real property: means one or more defined interests, benefits, or rights inherent in the ownership of real estate. See Utah Code 61-2g-102
- Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
- State-certified general appraiser: means a person who holds a current, valid certification as a state-certified general appraiser issued under this chapter. See Utah Code 61-2g-102
- State-certified residential appraiser: means a person who holds a current, valid certification as a state-certified residential real estate appraiser issued under this chapter. See Utah Code 61-2g-102
- State-licensed appraiser: means a person who holds a current, valid license as a state-licensed appraiser issued under this chapter. See Utah Code 61-2g-102
- Trainee: means an individual who:
(1)(y)(i) does not hold an appraiser license or appraiser certification issued under this chapter;(1)(y)(ii) works under the direct supervision of a state-certified appraiser to earn experience for licensure; and(1)(y)(iii) is registered as a trainee under this chapter. See Utah Code 61-2g-102(1)(a) The terms “state-certified general appraiser,” “state-certified residential appraiser,” and “state-licensed appraiser”:(1)(a)(i) may only be used to refer to an individual who is certified or licensed under this chapter; and(1)(a)(ii) may not be used following, or immediately in connection with, the name or signature of a firm, partnership, corporation, or group, or in any manner that it might be interpreted as referring to a firm, partnership, corporation, group, or to anyone other than the individual who is certified or licensed under this chapter.(1)(b) The requirement of this Subsection (1) may not be construed to prevent a state-certified general appraiser from signing an appraisal report on behalf of a corporation, partnership, firm, or group practice if it is clear that:(1)(b)(i) only the individual is certified; and(1)(b)(ii) the corporation, partnership, firm, or group practice is not certified.(1)(c) Except as provided in Section 61-2g-103, a certificate or license may not be issued under this chapter to a corporation, partnership, firm, or group.(2)(2)(a) A person other than a state-certified general appraiser or state-certified residential appraiser may not assume or use any title, designation, or abbreviation likely to create the impression of certification in this state as a real estate appraiser.(2)(b) A person other than a state-licensed appraiser may not assume or use any title, designation, or abbreviation likely to create the impression of licensure in this state as a real estate appraiser.(3)(3)(a) Only an individual who has qualified under the certification requirements of this chapter is authorized to prepare and sign a certified appraisal report relating to real estate or real property in this state.(3)(b) A state-certified residential appraiser may not prepare a certified appraisal report outside the state-certified residential appraiser’s authority as defined in Section 61-2g-312.(3)(c) A state-licensed appraiser who assisted in the preparation of a certified appraisal report is authorized to cosign the certified appraisal report.(4) A person who has not qualified under this chapter may not describe or refer to any appraisal or appraisal report relating to real estate or real property in this state by the terms “certified appraisal” or “certified appraisal report.”(5) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, and with the concurrence of the division, the board may make rules for the administration of this section regarding:(5)(a) the signing of an appraisal report; or(5)(b) the disclosure and use of an appraiser or an appraiser trainee‘s division-assigned credential, registration, license, or certification number.(6) If a trainee assists a state-certified appraiser in the preparation of an appraisal report, the appraisal report shall disclose:(6)(a) the trainee’s name; and(6)(b) the extent to which the trainee assists in the preparation of the appraisal report.