§ 445. Use of title
(a) No person other than a Certified Real Estate Appraiser shall assume or use such title or any title, designation, or abbreviation likely to create the impression of certification as a real estate appraiser. A person who is not certified pursuant to this chapter shall not describe or refer to any appraisal report or any […]
§ 446. Retainer
(a) A client or employer may retain or employ an appraiser to act as a disinterested third party in rendering an unbiased valuation or analysis. A client or employer may also retain or employ an appraiser to provide specialized services to facilitate the client’s or employer’s objectives. In either case, the appraisal and appraisal report […]
§ 447. Investigations
(a) The Board may, upon its own motion, and shall, upon the sworn written request of any person, investigate the actions of any appraiser, applicant, or school approved by the Board; provided, however, that, whenever a request for investigation involves an appraisal report which varies from a sales, lease, or exchange price by 10 percent […]
§ 434. Real Estate Appraisers Board; membership; duties
(a) There is hereby created the Virgin Islands Real Estate Appraisers Board consisting of seven members, appointed by the Governor with the advice and consent of the Legislature. The Board shall be under the Department of Licensing and Consumer Affairs for administrative purposes. No more than three members shall be real estate appraisers who have […]
§ 435. Licensed or certified real estate appraisers
(a) Any person desiring to act as a licensed or certified real estate appraiser must file an application for a license as a real estate appraiser or certified real estate appraiser with the Board. The Board shall charge an application fee to be set by the Board pursuant to rules and regulations. The application shall […]
§ 436. Temporary, reciprocal and renewal licenses
(a) Temporary licenses or certifications for such time as determined by the Board, may be awarded by the Board to nonresident appraisers who: (1) are licensed or certified in another state whose standards have been approved by the Appraisal Subcommittee and meet the requirements of Title XI of the federal Financial Institutions Reform, Recovery, and […]
§ 437. Provisional real estate appraiser’s license
The Board is authorized to grant a special Provisional Real Estate Appraiser’s License to an applicant who successfully passes an examination approved and administered by the Board and consistent with the Uniform State Certification Examination issued or endorsed by the Appraisal Qualification Board of the Appraisal Foundation, and who does not meet either the experience […]
§ 433. Definitions
As used in this chapter, unless the context requires a different construction, application or meaning: (1) “Analysis” means a study of real estate or real property other than one estimating value; (2) “Appraisal” or “real estate appraisal” means an analysis, opinion, or conclusion prepared by an appraiser relating to the nature, quality, value, or utility […]
§ 432. Short title
This chapter shall be known and may be cited as the “Real Estate Appraiser Licensing and Certification Act”.