Uniform Standards Of Appraisal Practice

(1) The Tennessee Real Estate Appraiser Commission adopts by reference the most current edition of the “Uniform Standards of Professional Appraisal Practice” as published and modified from time to time by the Appraisal Standards Board of The Appraisal Foundation. (a) Unless otherwise provided by applicable law or rule, the provisions of this chapter shall apply to any person holding a license or certificate as a licensed real estate appraiser, certified residential real estate appraiser, or certified general real estate appraiser in this state. (b) In addition, rule 1255-05-.02 Civil Penalties, paragraphs (2) through (4), shall apply to any person required to hold a license or certificate to engage in the practice of real estate appraisal in this state, regardless of whether such person has actually obtained such license or certificate. (2) Unless otherwise provided by applicable law or rule, the holder of a license or certificate as a licensed real estate appraiser, certified residential real estate appraiser or certified general real estate appraiser shall at all times comply with the “Uniform Standards of Professional Appraisal Practice” that are in effect at the time the services are performed. (3) An appraiser shall state and prominently place on the face of the appraisal report the type of report format. (4) An appraiser shall identify all persons providing material assistance in the appraisal report in compliance with the Uniform Standards of Professional Appraisal Practice. (5) An appraiser shall sign each written appraisal report relating to real property in this state that he or she prepares, in accordance with the Uniform Standards of Professional Appraisal Practice. The appraiser shall not affix his or her signature to any written appraisal report relating to real property in this state which was not prepared under the appraiser’s direct supervision. (6) Failure to take the seven (7) hour National Uniform Standards of Professional Appraisal Practice Update Course at least once in every period of two (2) calendar years as defined and required by rule 1255-04-.01(2) constitutes grounds for revocation, suspension or restriction of any license or certificate issued by the Commission. Teaching this course will be considered compliance with this requirement. Taking the AQB certified Uniform Standards of Professional Appraisal Practice instructor recertification course shall not fulfill this requirement. (7) Failure to comply with the Uniform Standards of Professional Appraisal Practice constitutes grounds for the revocation, suspension or restriction of any license or certificate issued by the commission and/or imposition of civil penalties pursuant to T.C.A. § 62-39-326. STANDARDS OF PROFESSIONAL PRACTICE CHAPTER 1255-05