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24.207.510    SCOPE OF PRACTICE

(1) Real property appraisers must adhere to a specific scope of practice and must comply with the USPAP, including, but not limited to, the ethics and competency rules.

(a) The licensed real estate appraiser classification authorizes the licensee to engage in appraisal assignments of noncomplex one- to four-unit residential properties having a market value less than $1,000,000 and complex one to four residential units having a market value less than $250,000. A "complex one- to four-unit single family residential appraisal" means an appraisal for which the property to be appraised, the form of ownership, the property characteristics, or the market conditions are atypical.

(i) The licensed real estate appraiser classification authorizes the licensee to engage in appraisal assignments of vacant or unimproved land that is utilized for one- to four-unit, single family residential purposes or for which the highest and best use is for one- to four-unit, single family residential purposes.

(ii) The licensed real estate appraiser classification does not include authorization for a licensee to engage in appraisal assignments of subdivisions for which a development analysis is necessary.

(b) The certified residential real estate appraiser classification authorizes the licensee to engage in appraisal assignments of one- to four-unit residential properties, without regard to value or complexity.

(i) The certified residential real estate appraiser classification authorizes a licensee to engage in appraisal assignments of vacant or unimproved land that is utilized for one- to four-unit, single family residential purposes or for which the highest and best use is for one- to four-unit, single family residential purposes.

(ii) The certified residential real estate appraiser classification does not include authorization for a licensee to engage in appraisal assignments of subdivisions for which a development analysis is necessary.

(c) The certified general real estate appraiser classification authorizes a licensee to engage in appraisal of all types of real property, without regard to value or complexity.

History: 37-1-131, 37-54-105, MCA; IMP, 37-1-131, 37-54-105, 37-54-201, MCA; NEW, 2007 MAR p. 472, Eff. 4/13/07; AMD, 2014 MAR p. 3064, Eff. 12/25/14.

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