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This entry was published on 2014-09-22
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SECTION 160-X
Classification of services
Executive (EXC) CHAPTER 18, ARTICLE 6-E
§ 160-x. Classification of services. 1. A client or employer may
retain or employ a state certified or licensed real estate appraiser to
act as a disinterested third party in rendering an unbiased estimate of
value or analysis. A client or employer may also retain or employ a
state certified or licensed real estate appraiser to provide specialized
services to facilitate the client's or employer's objectives. In either
case, the appraisal and the appraisal report must comply with the
provisions of this article.

2. For the purposes of this article, the term "appraisal assignment"
means an engagement for which an appraiser is employed or retained to
act, or would be perceived by third parties or the public as acting, as
a disinterested third party in rendering an unbiased analysis, opinion
or conclusion relating to the nature, quality, value or utility of
specified interests in, or aspects of, identified real estate.

3. For the purposes of this article, the term "specialized services"
means those appraisal services which do not fall within the definition
of appraisal assignment. The term "specialized services" may include
valuation work and analysis work. Regardless of the intention of the
client or employer, if the state certified or licensed real estate
appraiser would be perceived by third parties or the public as acting as
a disinterested third party in rendering an unbiased analysis, opinion
or conclusion, the work is classified as an appraisal assignment and not
"specialized services".