reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 4 - TRAINEE PERMITS › Section 13:40A-4.5 - Responsibilities of trainee

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The holder of a trainee permit issued by the Board shall work only under the "direct supervision," as that term is defined in 13:40A-4.6, of a "supervising appraiser," who shall be an individual certified in good standing by the Board, who has not been subject to any disciplinary action within the previous three years that affected the supervising appraisers legal ability to engage in appraisal practice, and who has acknowledged in writing an agreement to perform the responsibilities of a supervising appraiser set forth in 13:40A-4.6. Prior to commencing any work as a trainee, the holder of a trainee permit shall inform the Board in writing of the identity of any individual(s) who have agreed to serve as a "supervising appraiser" for the trainee. The holder of a trainee permit shall inform the Board in writing, within seven days, in the event that any individual previously designated as a "supervising appraiser" ceases to agree to perform the responsibilities of a "supervising appraiser," or in the event that any individual not previously designated as a "supervising appraiser" agrees to supervise the work product of the trainee. A trainee may have more than one approved "supervising appraiser."
(b)The holder of a trainee permit issued by the Board shall have the following duties and responsibilities:
1. The trainee shall maintain and submit to the Board upon application for permit renewal a log, which meets the requirements set forth in 13:40A-4.7. The trainee and his or her "supervising appraiser" shall have the shared responsibility to make sure that the log is accurate and current and meets the requirements set forth in 13:40A-4.7;
2. The trainee shall ensure that the log is available at all times for inspection by the Board;
3. When performing appraisal assignments, the trainee shall carry the permit issued by the Board;
4. In the event a supervising appraiser can no longer provide direct supervision to a trainee, the trainee shall return the permit within 30 days to the Board;
5. The Board shall reissue the permit to the trainee when the trainee has obtained a new supervising appraiser.
6. The trainee shall comply with the provisions of the Uniform Standards of Professional Appraisal Practice (USPAP).
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 4 - TRAINEE PERMITS › Section 13:40A-4.6 - Responsibilities of supervising appraiser

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any individual designated as a "supervising appraiser" by the holder of a trainee permit shall acknowledge in writing to the Board that he or she agrees to perform all responsibilities set forth in (f) below.
(b) Supervising appraisers shall be in good standing with the Board and shall not have been subject to any disciplinary action that affects their legal eligibility to engage in appraisal practice, including revocation or suspension, within any jurisdiction within the last three years.
(c) No appraiser shall serve as a supervising appraiser until he or she has held a certification from the Board for at least three years.
(d) Only those individuals who are certified by the Board as either a State-certified general real estate appraiser or a State-certified residential real estate appraiser shall be a supervising appraiser.
(e) A supervising appraiser shall have the following duties and responsibilities:
1. The supervising appraiser shall at all times be responsible for and provide direct supervision of the work performed by the trainee. For purposes of this section, "direct supervision" means:
i. To personally review the work product of the trainee;
ii. To approve, sign, and accept responsibility for each appraisal report including work product prepared by the trainee or in which the trainee has made a professional contribution and to sign all such reports and certify that all such reports have been independently and impartially prepared in compliance with the Uniform Standards of Professional Appraisal Practice, these rules and applicable statutory standards; and
iii. To indicate, within the certification section of the appraisal report, the name of the trainee providing significant real property appraisal assistance. For purposes of this subparagraph, "significant" means the exercise of appraisal knowledge and training and does not mean clerical or fact gathering tasks.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 4 - TRAINEE PERMITS › Section 13:40A-4.7 - Real estate appraiser trainee log

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A real estate appraiser trainee shall maintain a log on forms provided by the Board, which shall include the following information concerning each appraisal assignment in which the trainee participates:
1. The name and address of the client;
2. The type of appraisal report;
3. The address of the appraised property;
4. A description of the work performed and the scope of review and supervision;
5. The number of hours claimed for the assignment;
6. The type of property;
7. The date of report;
8. The number of actual work hours by the trainee on the assignment; and
9. The signature and certification number of the supervising appraiser. Separate logs shall be maintained for each supervising appraiser, if applicable.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 4 - TRAINEE PERMITS › Section 13:40A-4.8 - Continuing education requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An individual holding a trainee permit shall complete the continuing education requirements as established by "The Real Property Appraiser Qualification Criteria and Interpretation of the Criteria" as promulgated by the AQB of the Appraisal Foundation as amended and supplemented, which, are incorporated herein by reference as part of this rule.
(b) An individual holding a trainee permit for more than two years shall retain documentation as required in 13:40A-5.8.
(c) As provided in
N.J.A.C. 13:40A-5.10(b)
, an individual holding a trainee permit may request, due to extenuating circumstances, to be placed on inactive status to complete all continuing education requirements.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.1 - Requirements for licensure and certification renewal

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The purpose of continuing education activities is to ensure that the appraiser participates in a program that maintains and increases the appraiser's skill, knowledge and competency in real estate appraising.
(b) A licensed or certified real estate appraiser shall confirm on the renewal application that the licensed or certified real estate appraiser has completed all continuing education requirements pursuant to this subchapter during the biennial period preceding application for renewal.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.3 - Continuing education credit-hour requirements; carryover prohibited

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each applicant applying for renewal as a licensed or certified real estate appraiser shall be required to complete, by the time the renewal application is submitted to the Board, the continuing education requirements for either the certified residential, certified general, or the licensed, real estate appraiser as established by "The Real Property Appraiser Qualification Criteria and Interpretation of the Criteria" as promulgated by the AQB of the Appraisal Foundation as amended and supplemented, which are incorporated herein by reference as part of this rule.
(b) Carryover of continuing education credits is prohibited.
(c) Aside from complying with the requirement to complete the 7-Hour National USPAP Update Course (or its AQB-approved equivalent) set forth in 13:40A-5.4, a certified or licensed appraiser shall not receive credit for completion of the same continuing education course more than once during a biennial period preceding application for renewal.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.4 - Special course requirement(s)

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All licensed and certified real estate appraisers shall be required to complete the seven-hour National Update Course on the Uniform Standards of Professional Appraisal Practice or its equivalent at least once every 24 months.
(b) All licensed and certified real estate appraisers shall be required to complete a two-hour course on New Jersey law and rules governing the practice of real estate appraising. The course, at a minimum, shall include: the origin and history of the Real Estate Appraisers Act, the Board composition, scope of practice, mixed practice conflicts of interest, continuing education requirements and criteria, temporary visiting certificates, trainee and supervisor requirements, appraisal reporting, common deficiencies, appraisal management companies, and the complaint process.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.5 - Pre-approval of course offerings

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board shall maintain a list of all approved courses, lecturers and programs at the Board's offices and shall furnish this information to the licensees or certificate holders upon request.
(b) An applicant seeking to take a course for continuing professional education credit which has not been pre-approved by the Board may apply to the Board for pre-approval of the course offering. The applicant shall submit information similar to that which is required to be supplied by course providers, as more fully detailed in 13:40A-5.9(a)2.
(c) Determinations as to whether to award credit for an offering which has not been pre-approved shall be within the Board's discretion to determine whether the offering is deemed to be consistent with the purpose of continuing education.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.6 - Acceptable course topics

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board shall approve only those continuing education activities and course topics as are deemed by the Board to be consistent with the purpose of continuing education. Examples of such course topics may include, but are not limited to: changes in the Uniform Standards of Professional Appraisal Practice; ad valorem taxation; arbitration; business courses related to practice of real estate appraisal; construction estimating; land use planning; zoning and taxation; management, leasing, brokerage, and timesharing; property development; State law and rules governing the practice of real estate appraising; real estate appraisal (valuation/evaluations), law, litigation, financing, and investment; real estate appraisal related computer applications; automated valuation models and artificial intelligence; real estate securities and syndication; real property exchange; green building; seller concessions; fair housing laws; natural resources; environmental impacts on real estate; and developing opinions on real estate value in appraisals that also include personal property and/or business value/intangible assets.
(b) The Board shall approve only such continuing education programs as are available and advertised on a reasonably nondiscriminatory basis to all real estate appraisers in the State.
(c) The Board may revoke approval of those continuing education activities and course topics deemed by the Board to no longer be consistent with the purpose of continuing education.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.7 - Sources of continuing education

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The licensee or certificate holder may obtain continuing education credits for the following:
1. Training programs offered by State or Federal agencies or commissions;
2. Educational programs provided during trade organization conferences;
3. Colleges or universities accredited by the New Jersey Commission on Higher Education or any state accrediting agency approved by the Board; community or junior colleges accredited by the New Jersey Commission on Higher Education; proprietary schools;
4. Seminars offered by real estate appraisal or real estate related organizations;
5. Seminars offered by vendors of commercial products, provided that at least one other commercial vendor from a different company participates in the seminar;
6. Participation, other than as a student, in appraisal education processes and programs, as approved by the Board.
i. Examples of activities for which credit may be granted include teaching appraisal courses, developing appraisal programs, authoring appraisal textbooks or articles, or participating in other like activities deemed by the Board to be equivalent to obtaining continuing education.
ii. No more than one-half of the total hours of credit required per biennial renewal cycle may be awarded for activities qualifying under this paragraph;
7. Courses approved for initial certification and licensing; and
8. Distance learning courses on qualifying topics where a written, proctored examination is required. The term "written" refers to an examination that might be written on paper or administered electronically on a computer workstation or other device.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.8 - Required documentation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A licensee or certificate holder shall retain documentation for at least four years of the continuing education hours which the licensee or certificate holder completes in order to verify program attendance and/or activity completion. Each licensee or certificate holder shall submit such documentation to the Board upon request. The Board shall review the records of the licensees and/or certificate holders from time to time, on a random basis, to determine compliance with continuing education requirements.
(b) Documentation of continuing education requirements shall consist of the following:
1. For courses, seminars and training programs approved by the Board, the licensee or certificate holder shall be required to maintain a "Uniform Continuing Education Form" or other form acceptable to the board signed and dated by both the applicant and the course instructor(s), attesting that the licensee or certificate holder attended an approved continuing education offering. The licensee or certificate holder shall list the continuing education completed during the biennial licensing period on the Board-provided renewal application.
2. For participation other than as a student in appraisal education processes or programs:
i. A written request for continuing education credit which shall include at least the following information:
(1) A description of the activities for which credit is sought;
(2) The number of credits sought;
(3) The time spent on such activities;
(4) The reasons the applicant believes such activities meet the Board's continuing education requirements; and
(5) Any further information as may be requested by the Board;
ii. For publication of a book or an article in a professional journal, submission of the book or article;
iii. For teaching or research appointments, a statement of appropriate school authority verifying the appointment and a statement of the subject matter to be taught or the nature of the research to be performed.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.9 - Responsibilities of continuing education providers

Current through Register Vol. 56, No. 14, July 15, 2024
(a) All providers of continuing education courses shall:
1. Secure Board approval prior to advertising or otherwise representing that any course is approved for continuing education credit in New Jersey;
2. Submit, on forms provided by the Board, for each course for which approval is sought, the following for evaluation by the Board:
i. A detailed description of course content and estimated hours of instruction;
ii. Any printed material describing the course;
iii. A description of the method used to monitor attendance and the policy for making up missed classes;
iv. A curriculum vitae of the instructor(s), including information concerning the specific background which qualifies the instructor to teach the particular course offering;
v. Any additional information as may be requested by the Board; and
vi. The name of the instructor(s) proposed to teach the course or seminar;
3. Monitor the attendance at each approved course; and
4. Retain accurate records of attendance for a four-year period and shall submit such documentation to the Board upon request.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 5 - CONTINUING PROFESSIONAL EDUCATION › Section 13:40A-5.10 - Extensions

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An applicant for biennial renewal may not obtain an extension of time within which to satisfy continuing education requirements, except where a deferral is authorized pursuant to the Real Property Appraiser Qualification Criteria and Interpretations of the Criteria, effective January 1, 2008, as promulgated by the AQB of the Appraisal Foundation as amended and supplemented and incorporated herein by reference as part of this rule and can be found at
http://www.appraisalfoundation.org/s_appraisal/bin.asp?CID=117&DID=287&DOC=FILE.PDF
.
(b) If, upon application by a credential holder, the Board determines that an applicant for biennial renewal is not able to satisfy continuing education requirements for the preceding cycle due to extenuating circumstances, the credential holder shall be placed in inactive status for a period of up to 90 days pending completion of all continuing education requirements, as set forth in the Real Property Appraiser Qualification Criteria and Interpretations of the Criteria, as promulgated by the AQB of the Appraisal Foundation, as amended and supplemented and incorporated herein by reference as part of this rule.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 6 - STANDARDS FOR APPRAISALS › Section 13:40A-6.1 - General requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The appraiser shall ensure that all appraisals shall, at a minimum conform to the Uniform Standards of Professional Appraisal Practice (USPAP) in effect on the date on which the appraisal was prepared, which standards are incorporated herein by reference.
(b) An appraiser's failure to comply with the provisions of USPAP may be construed to be professional misconduct in violation of 45:1-21(e).
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.1 - Fee schedule

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Charges for credentialing, certification, licensure, registration, and other services are as follows:
1.
Application fee:
i. Certified General Real Estate Appraiser
.........
$ 125.00
ii. Certified Residential Real Estate
Appraiser .........
$ 100.00
iii. Licensed Real Estate Appraiser .........
$ 75.00
iv. Appraisal management company ..........................................
$ 250.00
2.
Credentialing fee: .........
$ 125.00
3.
Initial certification fee, general real estate
appraiser
i. During the first year of a biennial renewal
period .........
$ 550.00
ii. During the second year of a biennial
renewal period .........
$ 275.00
4.
Initial certification fee, residential real
estate appraiser:
i. During the first year of a biennial renewal
period .........
$ 550.00
ii. During the second year of a biennial
renewal period .........
$ 275.00
5.
Initial license fee:
i. During the first year of a biennial renewal
period .........
$ 550.00
ii. During the second year of a biennial
renewal period .........
$ 275.00
6.
Certification renewal fee for general real
estate appraiser, biennial .........
$ 550.00
7.
Certification renewal fee for residential real
estate appraiser, biennial .........
$ 550.00
8.
License renewal fee, biennial .........
$ 550.00
9.
Late renewal fee: .........
$ 100.00
10.
Temporary visiting registration fee .........
$ 150.00
11.
Reciprocity Application fee: .........
$ 75.00
12.
Reinstatement fee: .........
$ 150.00
13.
Duplicate wall certificate fee: .........
$ 40.00
14.
Duplicate registration certificate fee:
.........
$ 25.00
15.
Change of name or address fee: .........
$ 25.00
16.
Verification of certification/licensure:
.........
$ 40.00
17.
Verification of continuing education credits:
.........
$ 40.00
18.
Federal surcharge, biennial: .........
$ 80.00
19.
Trainee permit fee; annual .........
$ 100.00
20.
Initial registration fee, appraisal management company:
i. During the first year of the biennial period ...........................
$ 2,500
ii. During the second year of the biennial period ......................
$ 1,250
21.
Biennial registration renewal fee, appraisal management company
$ 2,500
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.2 - Disclosure of title and certificate or license number

Current through Register Vol. 56, No. 14, July 15, 2024
An appraiser shall include on all appraisal reports, at the place wherever the appraiser's signature appears, the appraiser's designation and state license or certification number. The appraiser shall use only the designations permitted pursuant to 13:40A-7.3.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.3 - Use of designations and abbreviations

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The following shall apply in connection with the use of designations and abbreviations on appraisal reports or in any advertisement or public representation:
1. Individuals holding a current valid real estate appraiser certificate or license may use only the following designations and abbreviations to indicate the type of certificate or license held:
Click here to view image.
2. Abbreviations shall appear in capital letters, without a period or space after each letter, and shall not be in type or lettering larger than the individual's name.
3. A certified or licensed appraiser shall use his or her designation or abbreviation only in conjunction with his or her name and not in conjunction with the name of a firm, corporation or partnership. For example, a firm, corporation or partnership shall not be identified as being certified or licensed.
4. An individual who is not certified or licensed pursuant to the Real Estate Appraisers Act, N.J.S.A. 45:14F-1 et seq., and this chapter shall not use the designations or abbreviations set forth in (a)1 above or any other designation or abbreviation using similar combinations of words or letters to imply that the individual is state certified or licensed.
5. A certified or licensed appraiser shall not permit his or her name and designation to be used on an appraisal where the appraiser has not participated in the appraisal pursuant to the Uniform Standards of Professional Appraisal Practice.
6. Trainee real estate appraisers shall use the full designation "trainee real estate appraiser" followed by their permit number. No abbreviation shall be permitted.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.4 - Criteria for qualifying education instructor and USPAP instructors

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An individual applying to be an instructor of qualifying education courses shall, at a minimum, have one of the following requirements:
1. A baccalaureate degree in any field and three years of experience directly related to the subject matter to be taught;
2. A masters degree in any field and one year of experience directly related to the subject matter to be taught;
3. A masters or higher degree in a field that is directly related to the subject matter to be taught;
4. Five years of real estate appraisal teaching experience directly related to the subject matter to be taught; or
5. Seven years of real estate appraisal experience directly related to the subject matter to be taught.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.5 - Mixed practice; conflict of interest

Current through Register Vol. 56, No. 14, July 15, 2024
(a) For the purposes of this section, "real estate licensee" means any natural person licensed as a real estate broker, broker-salesperson or salesperson pursuant to N.J.S.A. 45:15-1 et seq. and "transaction" means the buying, selling, leasing, mortgaging, auctioning or exchanging of real estate.
(b) A real estate appraiser, who is also a real estate licensee or who is employed as an appraiser by a licensed real estate broker, shall not prepare an appraisal upon a property while the real estate appraiser also is acting in the capacity of a real estate licensee for any party with respect to any transaction involving the property to be appraised.
(c) The prohibitions listed in (b) above shall continue until the transaction closes.
1. A sale or buy transaction is considered closed at the time the closing has been completed and title has passed from the seller to the buyer;
2. A lease transaction is considered closed at the time the lease is fully executed and delivered to the parties or, if there is no written lease, at the time of occupancy of the leased premises by the tenant;
3. A mortgage transaction is considered closed at the time a mortgage document is executed by the mortgagor and delivered to the mortgagee; and
4. An exchange is considered closed at the time the closing has been completed and title has passed between the parties.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.6 - License or certification renewal

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Board shall send a notice of renewal to each licensee or certificate holder, at least 60 days prior to the expiration of the license or certification. The notice of renewal shall explain inactive renewal and advise the licensee or certificate holder of the option to renew as inactive. If the notice to renew is not sent 60 days prior to the expiration date, no monetary penalties or fines shall apply to the licensee or certificate holder for failure to renew, provided that the license or certification is renewed within 60 days from the date the notice is sent or within 30 days following the date of license or certification expiration, whichever is later.
(b) A licensee or certificate holder shall renew his or her license or certification for a period of two years from the last expiration date. The licensee or certificate holder shall submit a renewal application to the Board, along with the renewal fee set forth in
13:40A-7.1
, prior to the date of license or certification expiration.
(c) A licensee or certificate holder may renew his or her license or certification by choosing inactive status. A licensee or certificate holder electing to renew his or her license or certification as inactive shall not engage in the practice of real estate appraising, or hold himself or herself out as eligible to engage in the practice of real estate appraising in New Jersey, until such time as the license or certification is returned to active status.
(d) If a licensee or certificate holder does not renew his or her license or certification prior to its expiration date, the licensee or certificate holder may renew the license or certification within 30 days of its expiration by submitting a renewal application, a renewal fee, and a late fee as set forth in
N.J.A.C. 13:40A-7.1
. During this 30-day period, the license or certification shall be valid and the licensee or certificate holder shall not be deemed practicing without a license or certification, as applicable.
(e) A licensee or certificate holder who fails to submit a renewal application within 30 days of license or certification expiration shall have his or her license or certification suspended without a hearing.
(f) A licensee or certificate holder who continues to engage in the practice of real estate appraising with a suspended license or certification shall be deemed to be engaging in the unauthorized practice of real estate appraising and shall be subject to action consistent with
45:1-14
et seq., even if no notice of suspension has been provided to the individual.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.7 - License or certification reactivation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A licensee or certificate holder who holds an inactive license or certification pursuant to
13:40A-7.6(c)
may apply to the Board for reactivation of the inactive license or certification. A licensee or certificate holder seeking reactivation of an inactive license or certification shall submit:
1. A renewal application;
2. A certification of employment listing each job held during the period of the inactive license or certification, which includes the name, address, and telephone number of each employer;
3. The renewal fee for the biennial period for which reactivation is sought as set forth in
13:40A-7.1
; and
4. Evidence of having completed all continuing education credits for the current biennial registration period that were required to be completed within two years prior to the beginning of the renewal period for which reactivation is sought, consistent with the requirements set forth in N.J.A.C. 13:40A-5.
i. An applicant who holds a valid, current license or certification in good standing issued by another state to engage in the practice of real estate appraising and submits proof of having satisfied that state's continuing education requirements for that license or certification during the biennial period immediately prior to the renewal period for which reactivation is sought, shall be deemed to have satisfied the requirements of (a)4 above. If the other state does not have any continuing education requirements, the requirements of (a)4 above apply.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.8 - License or certification reinstatement

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A licensee or certificate holder who has had his or her license or certification suspended pursuant to
N.J.A.C 13:40A-7.6(e)
above may apply to the Board for reinstatement. A licensee or certificate holder applying for reinstatement shall submit:
1. A reinstatement application;
2. A certification of employment listing each job held during the period of suspended license or certification, which
includes the name, address, and telephone number of each employer;
3. The renewal fee for the biennial period for which reinstatement is sought;
4. The past due renewal fee for the biennial period immediately preceding the renewal period for which reinstatement is sought;
5. The reinstatement fee set forth in
13:40A-7.1
; and
6. Evidence of having completed all continuing education credits for the current biennial registration period that were required to be completed during the biennial period immediately prior to the renewal period for which reinstatement is sought, consistent with the requirements set forth in N.J.A.C. 13:40A-5.
i. An applicant who holds a valid, current license or certification in good standing issued by another state to engage in the practice of real estate appraising and submits proof of having satisfied that state's continuing education requirements for that license or certification, shall be deemed to have satisfied the requirements of (a)6 above. If the other state does not have any continuing education requirements, the requirements of (a)6 above shall apply.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.9 - Denial or revocation of license, certification, or registration; record of conviction of certain crimes

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An applicant for licensure, certification, or registration shall not be eligible for licensure, certification, or registration, and any holder of a license, certification, or registration shall have his or her license, certification, or registration revoked if the Board determines that criminal history record information exists on file in the Federal Bureau of Investigation, Identification Division, or in the State Bureau of Identification in the Division of State Police, which would disqualify that individual from being licensed, certified, or registered.
(b) An applicant or a holder of a license, certification, or registration shall be disqualified from licensure, certification, or registration if that individual's criminal history record check reveals a record of conviction of any of the following crimes and offenses:
1. In New Jersey, any crime or disorderly persons offense during the five-year period immediately prior to the date of the application or renewal, or any crime more than five years prior to the date of the application or renewal:
i. Involving danger to the person, meaning those crimes and disorderly persons offenses set forth in 2C:11-1 et seq., 2C:12-1 et seq., 2C:13-1 et seq., 2C:14-1 et seq., or 2C:15-1 et seq.; or
ii. Involving theft as set forth in Chapter 20 of Title 2C of the New Jersey Statutes, forgery and fraudulent practices as set forth in Chapter 21 of Title 2C of the New Jersey Statutes, including, but not limited to, money laundering as set forth in N.J.S.A. 2C:21-25, or perjury and other falsification in official matters as set forth in Chapter 28 of Title 2C of the New Jersey Statutes; or
iii. Involving any controlled dangerous substances or controlled dangerous substances analog as set forth in Chapter 35 of Title 2C of the New Jersey Statutes except as set forth in paragraph (4) of subsection a of 2C:35-10.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 7 - GENERAL PROVISIONS › Section 13:40A-7.11 - Notification of change of address; service of process

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Every licensee, certificate holder, and registrant shall give notice to the Board of any change of his or her address of record within 10 days of such change. For purposes of this section "address of record" means an address designated by a licensee, certificate holder, or registrant that is part of the public record and that may be disclosed upon request. "Address of record" may be a licensee, certificate holder, or registrant's home, business, or mailing address, but shall not be a post office box, unless the licensee, certificate holder, or registrant also provides another address that includes a street, city, state, and zip code.
(b) Service of an administrative complaint or other process initiated by the Board, the Attorney General, or the Division of Consumer Affairs at the licensee's, certificate holder's, or registrant's address of record shall be deemed adequate notice.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 8 - CERTIFICATION OR LICENSURE BY RECIPROCITY › Section 13:40A-8.1 - Certification or licensure by reciprocity

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Upon receipt of a completed application, application fee, consent to a criminal history record background check, and requisite fee for such a check, the Board shall issue a real estate appraiser license or certification to any person who documents that the person holds a valid, current corresponding license or certification in good standing issued by another state, if:
1. The Board determines that the state that issued the license or certification at the time of issuance meets or exceeds the minimum qualification criteria established by the Appraisal Qualifications Board of the Appraisal Foundation and the standards for licensure and certification as set forth in this chapter; and
2. The requirements of (b) below are satisfied.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.1 - Purpose and scope

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The rules in this subchapter implement the provisions of the Appraisal Management Company Registration and Regulation Act, P.L. 1991, c. 68, as amended and supplemented by P.L. 1997, c. 401 and P.L. 2017, c. 72 (N.J.S.A. 45:14F-27 et seq.).
(b) Except as provided in (c) below, the provisions of this subchapter shall apply to an appraisal management company in accordance with 12 U.S.C. §
										3353.
(c) The provisions of this subchapter shall not apply to:
1. An employee relocation management company in the course of employee relocation pursuant to its relocation policy; or
2. A person or entity that exclusively employs appraisers on an employer and employee basis for the performance of appraisals for a variety of clients or intended uses of the appraisal other than mortgage lending consumer credit transactions secured by a consumer's principal dwelling.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.3 - Appraiser panel

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An appraiser is deemed part of the appraisal management company's appraiser panel as of the earliest date on which the appraisal management company:
1. Accepts the appraiser for the appraisal management company's consideration for future appraisal assignments in covered transactions or for secondary mortgage market participants in connection with covered transactions; or
2. Engages the appraiser to perform one or more appraisals on behalf of a creditor for covered transactions or secondary mortgage market participant in connection with covered transactions.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.4 - Registration

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each person that directly or indirectly engages, or attempts to engage, in business as an appraisal management company, or advertises or holds itself out as engaging in or conducting business as an appraisal management company, shall obtain a registration from the Board.
1. The registration requirements in this section shall not apply to an appraisal management company that is owned and controlled by an insured depository institution that is regulated by a Federal financial institution regulatory agency.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.5 - Biennial renewal

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An appraisal management company registrant shall submit to the Board, on a biennial basis, a renewal application and the renewal fee set forth in N.J.A.C. 13:40A-7.1. A registrant that fails to submit the renewal application within 30 days after the registration expiration shall submit the late renewal fee set forth in N.J.A.C. 13:40A-7.1in addition to the renewal fee. During this 30-day period, the registration shall be valid and the registrant shall not be deemed engaging in the practice of appraisal management without a registration. A registrant who fails to submit a renewal application within 30 days of registration expiration shall have the registration suspended without a hearing. A registrant that continues to engage in the practice of appraisal management with an expired registration shall be deemed to be engaging in the unauthorized practice of appraisal management and shall be subject to the penalties set forth in N.J.S.A. 45:1-25et seq.
(b) The Board shall send a notice of renewal to each registrant, at least 60 days prior to the expiration of the registration. If the notice to renew is not sent 60 days prior to the expiration date, no monetary penalty or fines shall apply to the registrant for any unauthorized practice during the period following the permit expiration, not to exceed the number of days short of 60 before the renewal was issued.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.6 - Annual certification; AMC responsibilities

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each State-registered appraisal management company shall certify to the Board, annually, on a form provided by the Board, that it:
1. Requires appraisers completing appraisals, including appraisal reviews, at its request to comply with the Uniform Standards of Professional Appraisal Practice, including the requirements for geographic and product competence;
2. Has a system in place to verify that only licensed or certified appraisers are used for appraisals covered in this subchapter, including, but not limited to, those performed for Federally related transactions, appraisals pursuant to the provisions of the N.J.S.A. 45:14F-1 et seq., and this chapter;
3. Has a system in place to verify that an individual on the appraiser panel has not had a license or certification as an appraiser refused, denied, cancelled, revoked, or surrendered in lieu of a pending revocation;
4. Has a system in place to require that appraisals are conducted independently and free from inappropriate influence and coercion as required by the appraisal independence standards established under section 1639e of the Federal Truth in Lending Act, Pub. L. 90-321 ( 15 U.S. C. §
											1639e ), including the requirements for payment of customary and reasonable compensation to fee appraisers when the appraisal management company is providing services for a consumer credit transaction secured by the principal dwelling of a consumer; and
5. Is in compliance with State laws and rules.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.7 - Responsibilities of certified or licensed appraiser

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each State-certified or licensed appraiser performing an appraisal assignment, including an appraisal review, for an appraisal management company, shall be responsible to ensure that the conduct of non-appraiser assistance is compatible with the professional responsibilities of the appraiser under Federal and State laws, rules, and regulations, including, but not limited to, conformance with the Uniform Standards of Professional Appraisal Practice.
1. Non-appraiser assistance shall include, but not be limited to, administrative quality control reviewers who are agents of, contracted by, employees of, or whose services are otherwise utilized by an appraisal management company, appraiser, or organization.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.8 - Removal of appraiser from panel

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An appraisal management company shall not remove an appraiser from its appraiser panel, or otherwise refuse to assign requests for real estate appraisal services to an appraiser, without:
1. Notifying the appraiser in writing of the reasons why the appraiser is being removed from the appraiser panel of the appraisal management company;
2. Notifying the appraiser of the nature of any alleged conduct or violation, if the appraiser is being removed from the panel for illegal conduct, violation of the Uniform Standards of Professional Appraisal Practice, or a violation of State licensing standards;
3. Providing the appraiser with any evidence, upon which removal is based, including, but not limited to, any appraisal, appraisal review, or appraisal consulting report; and
4. Providing an opportunity for the appraiser to respond to the notification of the appraisal management company.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.9 - Notification to the Board regarding material violation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An appraisal management company shall inform the Board when the appraisal management company has a reasonable basis to believe that an appraiser has committed a material violation of:
1. The Uniform Standards of Professional Appraisal Practice;
2. Applicable laws; or
3. Ethical or professional conduct.
New Jersey Administrative Code › Title 13 - LAW AND PUBLIC SAFETY › Chapter 40A - STATE BOARD OF REAL ESTATE APPRAISERS › Subchapter 9 - APPRAISAL MANAGEMENT COMPANIES › Section 13:40A-9.10 - Payment to appraiser

Current through Register Vol. 56, No. 14, July 15, 2024
Each appraisal management company shall, except in bona fide cases of breach of contract or substandard performance of services, make payment to an appraiser for the completion of an appraisal or valuation assignment within 60 days of the date on which the appraiser transmits or otherwise provides the completed appraisal or valuation study to the appraisal management company or its assignee, unless a mutually agreed upon alternate arrangement has been previously established, which agreement shall be considered to be under the appraiser independence requirements of section 1639e of the Federal Truth in Lending Act, Pub. L. 90-321 ( 15 U.S.C. §
										1639e ).