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<section article="gbo" article_name="Business Occupations and Professions" number="16-101" title_number="16" title_name="Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors" subtitle_number="1" subtitle_name="Definitions">
  <level label="a">
    <text>In this title the following words have the meanings indicated.</text>
  </level>
  <level label="b">
    <level label="1">
      <text>“Appraisal” means an analysis, conclusion, or opinion about the nature, quality, utility, or value of interests in or aspects of identified real estate.</text>
    </level>
    <level label="2">
      <text>“Appraisal” includes:</text>
      <level label="i">
        <text>a valuation appraisal;</text>
      </level>
      <level label="ii">
        <text>an analysis assignment; and</text>
      </level>
      <level label="iii">
        <text>a review assignment.</text>
      </level>
    </level>
    <level label="3">
      <text>“Appraisal” does not include an opinion to a potential seller or third party by a person licensed under Title 17 of this article about the recommended listing price or recommended purchase price of real estate, provided that the opinion is not referred to as an appraisal.</text>
    </level>
  </level>
  <level label="c">
    <text>“Appraisal report” means any communication, oral or written, of an appraisal.</text>
  </level>
  <level label="d">
    <text>“Central Repository” means the Criminal Justice Information System Central Repository of the Department of Public Safety and Correctional Services.</text>
  </level>
  <level label="e">
    <level label="1">
      <text>“Certificate” means, unless the context requires otherwise, a certificate issued by the Commission that allows an individual to provide certified real estate appraisal services.</text>
    </level>
    <level label="2">
      <text>“Certificate” includes, unless the context requires otherwise, each of the following certificates:</text>
      <level label="i">
        <text>a certificate to provide certified real estate appraisal services for general real estate; and</text>
      </level>
      <level label="ii">
        <text>a certificate to provide certified real estate appraisal services for residential real estate.</text>
      </level>
    </level>
  </level>
  <level label="f">
    <text>“Certified appraisal report” means an appraisal report prepared and signed by a certified real estate appraiser.</text>
  </level>
  <level label="g">
    <level label="1">
      <text>“Certified real estate appraiser” means, unless the context requires otherwise, an individual who is certified by the Commission to provide certified real estate appraisal services.</text>
    </level>
    <level label="2">
      <text>“Certified real estate appraiser” includes:</text>
      <level label="i">
        <text>a certified real estate appraiser for general real estate; and</text>
      </level>
      <level label="ii">
        <text>a certified real estate appraiser for residential real estate.</text>
      </level>
    </level>
  </level>
  <level label="h">
    <text>“Commission” means the State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors.</text>
  </level>
  <level label="i">
    <text>“Home inspection” means a written evaluation of one or more of the components of an existing residential building, including the heating system, cooling system, plumbing system, electrical system, structural components, foundation, roof, masonry structure, exterior and interior components, or any other related residential housing component.</text>
  </level>
  <level label="j">
    <text>“Home inspector” means an individual who provides home inspection services for compensation.</text>
  </level>
  <level label="k">
    <text>“License” means, unless the context requires otherwise, a license issued by the Commission to provide real estate appraisal services or to provide home inspection services.</text>
  </level>
  <level label="l">
    <text>“Licensed home inspector” means an individual who is licensed by the Commission to provide home inspection services.</text>
  </level>
  <level label="m">
    <text>“Licensed real estate appraiser” means an individual who is licensed by the Commission to provide real estate appraisal services.</text>
  </level>
  <level label="n">
    <text>“Provide certified real estate appraisal services” means to provide real estate appraisal services as a certified real estate appraiser.</text>
  </level>
  <level label="o">
    <text>“Provide home inspection services” means to provide home inspection services as a licensed home inspector.</text>
  </level>
  <level label="p">
    <text>“Provide real estate appraisal services” means to make for consideration an appraisal of real estate or prepare or sign an appraisal report in connection with a federally related transaction, as defined in the federal Financial Institutions Reform, Recovery, and Enforcement Act of 1989.</text>
  </level>
  <level label="q">
    <level label="1">
      <text>“Real estate” means any interest in real property that is located in the State or elsewhere.</text>
    </level>
    <level label="2">
      <text>“Real estate” includes:</text>
      <level label="i">
        <text>an interest in a condominium; and</text>
      </level>
      <level label="ii">
        <text>a time–share estate or a time–share license, as those terms are defined in § 11A–101 of the Real Property Article.</text>
      </level>
    </level>
  </level>
  <level label="r">
    <text>“Real estate appraiser trainee” means an individual who is licensed by the Commission to provide real estate appraisal services while:</text>
    <level label="1">
      <text>under the supervision of a supervising appraiser; and</text>
    </level>
    <level label="2">
      <text>in training to become a licensed real estate appraiser or certified real estate appraiser.</text>
    </level>
  </level>
  <level label="s">
    <text>“Supervising appraiser” means a certified residential real estate appraiser or a certified general real estate appraiser who has the responsibility of supervising one or more real estate appraiser trainees.</text>
  </level>
  <level label="t">
    <level label="1">
      <text>“Supervision” means the responsibility of a supervising appraiser to provide on–site direction or immediately available direction, through written instructions or by electronic means, to real estate appraiser trainees performing real estate appraisal services.</text>
    </level>
    <level label="2">
      <text>“Supervision” includes a supervising appraiser accepting direct responsibility for a real estate appraisal prepared by the real estate appraiser trainee while the trainee is under the supervising appraiser’s direction on a specific appraisal assignment.</text>
    </level>
  </level>
</section>
