(a)It shall be unlawful for any person, partnership, or corporation, for a fee or other valuable consideration, or with the intention or expectation of receiving or collecting a fee or valuable consideration from another, to do any of the following unless he or she is licensed under this article:
(1)To be employed to perform or to perform an appraisal as defined in this article where the subject property of the assignment lies within the borders of the State of Alabama.
(2)Present himself or herself, or allow himself or herself to be presented, as being able to perform an appraisal for which a license is required under this article.
(b)It shall be unlawful for a person, other than a licensed real estate appraiser, to assume or use that title or any title, designation, or abbreviation l
Free access — add to your briefcase to read the full text and ask questions with AI
(a) It shall be unlawful for any person, partnership, or corporation, for a fee or other valuable consideration, or with the intention or expectation of receiving or collecting a fee or valuable consideration from another, to do any of the following unless he or she is licensed under this article:
(1) To be employed to perform or to perform an appraisal as defined in this article where the subject property of the assignment lies within the borders of the State of Alabama.
(2) Present himself or herself, or allow himself or herself to be presented, as being able to perform an appraisal for which a license is required under this article.
(b) It shall be unlawful for a person, other than a licensed real estate appraiser, to assume or use that title or any title, designation, or abbreviation likely to create the impression of licensure as a real estate appraiser by this state. It shall be unlawful for a person licensed as a real estate appraiser to assume or use a title, designation, or abbreviation likely to create the impression of licensure at a higher classification of real estate appraiser other than the classification at which the person is licensed. It shall be unlawful for a trainee real property appraiser or a registered real property appraiser pursuant to this article to describe or refer to any appraisal or other evaluation of real estate located in this state by the term “certified.” Except where required by, or where necessary to fully comply with the provisions of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub.L. No. 101-73, as amended, and regulations issued pursuant thereto, an employee of the State of Alabama or any county who has been commissioned by the Alabama Department of Revenue as an Alabama Certified Appraiser, for the purposes of classification only, who is engaged in the performance of official duties as an employee, shall not be subject to this article.
(1) A trainee real property appraiser or a state registered real property appraiser under this article shall include the following statement in the Certifications of the Appraiser section of each appraisal or specialized service report: “This assignment was made subject to regulations of the State of Alabama Real Estate Appraisers Board.”
(2) A licensed real estate appraiser licensed other than as a trainee real property appraiser or a registered real property appraiser shall include the following statement in the Certifications of the Appraiser section of each appraisal or specialized service report: “This assignment was made subject to regulations of the State of Alabama Real Estate Appraisers Board. The undersigned state licensed real estate appraiser has met the requirements of the board that allow this report to be regarded as a certified appraisal.”
(c) Except where required by, or where necessary to fully comply with the provisions of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, Pub.L. No. 101-73, as amended, and regulations issued pursuant thereto, this article shall not apply to, or preclude, a person who is not a licensed real estate appraiser from performing real estate market analysis, in that person’s capacity as a licensed real estate broker or salesperson under this title. This article also does not apply to a licensed real estate appraiser when preparing an evaluation for a mortgage loan transaction when a financial institution has determined that an appraisal is not required or to a licensed real estate broker or salesperson, who in the ordinary course of business, gives an opinion to a potential seller or third party as to the recommended listing price of real estate, or an opinion to a potential purchaser or third party as to the recommended purchase price of real estate. This article also does not apply to any employee, officer, director, partner, or similar person making a valuation, analysis, market study, or other appraisal for his or her employer or principal, including those related to any real estate-related financial transactions for or on behalf of a financial institution. The words “employer or principal” as used in this subsection shall include any subsidiary, parent, affiliate, or partner of the direct employer or principal. This article shall not require now or in the future any person who lists or otherwise offers property for sale to have an appraisal of that property.
(d) Any person violating subsections (a) through (c), upon conviction thereof, shall be guilty of a Class A misdemeanor and shall be punished as prescribed by law.
(e) Notwithstanding anything to the contrary in this section, an individual who is not a licensed appraiser may assist in the preparation of an appraisal if the following conditions are met:
(1) The assistant is under the direct supervision of a licensed individual.
(2) The final appraisal document is approved and signed by an individual who is licensed to perform that type of appraisal.
(f)(1) Notwithstanding anything to the contrary in this article, a person licensed pursuant to this article may perform an evaluation for a financial institution as authorized by federal law.
(2) When performing an evaluation, a person licensed pursuant to this article shall not be subject to any provision of this article except as provided in this subsection.
(3) The evaluation shall contain a statement that “This is not an appraisal.”
(4) This article does not otherwise apply to an evaluation.
(5) Evaluations shall be governed by federal law and rules of federal financial institution regulatory agencies and not the board.