Texas Administrative Code › Title 22 - EXAMINING BOARDS › Part 8 - TEXAS APPRAISER LICENSING AND CERTIFICATION BOARD › Chapter 153 - RULES RELATING TO PROVISIONS OF THE TEXAS APPRAISER LICENSING AND CERTIFICATION ACT › Section 153.1 - Definitions

Current through Reg. 49, No. 28; July 12, 2024
The following words and terms, when used in this chapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise:
(1) ACE--Appraiser
				Continuing Education.
(2) Act--The
				Texas Appraiser Licensing and Certification Act.
(3) Administrative Law Judge--A judge
				employed by the State Office of Administrative Hearings (SOAH).
(4) Analysis--The act or process of providing
				information, recommendations or conclusions on diversified problems in real
				estate other than estimating value.
(5) Applicant--A person seeking a
				certification, license, approval as an appraiser trainee, or registration as a
				temporary out-of-state appraiser from the Board.
(6) Appraisal practice--Valuation services
				performed by an individual acting as an appraiser, including but not limited to
				appraisal and appraisal review.
(7)
				Appraisal report--A report as defined by and prepared under the
				USPAP.
(8) Appraisal Standards
				Board--The Appraisal Standards Board (ASB) of the Appraisal Foundation, or its
				successor.
(9) Appraisal
				Subcommittee--The Appraisal Subcommittee (ASC) of the Federal Financial
				Institutions Examination Council or its successor.
(10) Appraiser Qualifications Board--The
				Appraiser Qualifications Board (AQB) of the Appraisal Foundation, or its
				successor.
(11) Appraiser
				trainee--A person approved by the Board to perform appraisals or appraiser
				services under the active, personal and diligent supervision and direction of
				the supervisory appraiser.
(12)
				Board--The Texas Appraiser Licensing and Certification Board.
(13) Certified General Appraiser--A certified
				appraiser who is authorized to appraise all types of real property.
(14) Certified Residential Appraiser--A
				certified appraiser who is authorized to appraise one-to-four unit residential
				properties without regard to value or complexity.
(15) Classroom course--A course in which the
				instructor and students interact face to face, in real time and in the same
				physical location.
(16) Classroom
				hour--Fifty minutes of instruction out of each sixty-minute segment of actual
				classroom session time.
(17)
				Client--Any party for whom an appraiser performs an assignment.
(18) College--Junior or community college,
				senior college, university, or any other postsecondary educational institution
				established by the Texas Legislature, which is accredited by the Commission on
				Colleges of the Southern Association of Colleges and Schools or like
				commissions of other regional accrediting associations, or is a candidate for
				such accreditation.
(19) Executive
				Director --The Executive Director of the Texas Appraiser Licensing and
				Certification Board.
(20)
				Complainant--Any person who has made a written complaint to the Board against
				any person subject to the jurisdiction of the Board.
(21) Complex appraisal--An appraisal in which
				the property to be appraised, the form of ownership, market conditions, or any
				combination thereof are atypical.
(22) Continuing education cycle--the period
				in which a license holder must complete continuing education as required by the
				AQB.
(23) Council--The Federal
				Financial Institutions Examination Council (FFIEC) or its successor.
(24) Day--A calendar day unless clearly
				indicated otherwise.
(25) Distance
				education--Any educational process based on the geographical separation of
				student and instructor, as defined by the AQB. Distance education includes
				synchronous delivery, when the instructor and student interact simultaneously
				online; asynchronous delivery, when the instructor and student interaction is
				non-simultaneous; and hybrid or blended course delivery that allows for both
				in-person and online interaction, either synchronous or asynchronous.
(26) Feasibility analysis--A study of the
				cost-benefit relationship of an economic endeavor.
(27) Federal financial institution regulatory
				agency--The Board of Governors of the Federal Reserve System, the Federal
				Deposit Insurance Corporation, the Office of the Comptroller of the Currency,
				the Office of Thrift Supervision, the National Credit Union Administration, or
				the successors of any of those agencies.
(28) Federally related transaction--Any real
				estate-related transaction that requires the services of an appraiser and that
				is engaged in, contracted for, or regulated by a federal financial institution
				regulatory agency.
(29)
				Foundation--The Appraisal Foundation (TAF) or its successor.
(30) Inactive certificate or license--A
				general certification, residential certification, or state license which has
				been placed on inactive status by the Board.
(31) License--The whole or a part of any
				Board permit, certificate, approval, registration or similar form of permission
				required by law.
(32) License
				holder--A person certified, licensed, approved, authorized or registered by the
				Board under the Texas Appraiser Licensing and Certification Act.
(33) Licensed Residential Appraiser--A
				licensed appraiser who is authorized to appraise non-complex one-to-four
				residential units having a transaction value less than $1 million and complex
				one-to-four residential units having a transaction value less than
				$400,000.
(34) Licensing--Includes
				the Board processes respecting the granting, disapproval, denial, renewal,
				certification, revocation, suspension, annulment, withdrawal or amendment of a
				license.
(35) Market analysis--A
				study of market conditions for a specific type of property.
(36) Nonresidential real estate appraisal
				course--A course with emphasis on the appraisal of nonresidential real estate
				properties which include, but are not limited to, income capitalization, income
				property, commercial appraisal, rural appraisal, agricultural property
				appraisal, discounted cash flow analysis, subdivision analysis and valuation,
				or other courses specifically determined by the Board.
(37) Nonresidential property--A property
				which does not conform to the definition of residential property.
(38) Party--The Board and each person or
				other entity named or admitted as a party.
(39) Person--Any individual, partnership,
				corporation, or other legal entity.
(40) Personal property--Identifiable tangible
				objects and chattels that are considered by the general public as being
				"personal," for example, furnishings, artwork, antiques, gems and jewelry
				collectibles, machinery and equipment; all tangible property that is not
				classified as real estate.
(41)
				Petitioner--The person or other entity seeking an advisory ruling, the person
				petitioning for the adoption of a rule, or the party seeking affirmative relief
				in a proceeding before the Board.
(42) Pleading--A written document, submitted
				by a party or a person seeking to participate in a case as a party, that
				requests procedural or substantive relief, makes claims, alleges facts, makes a
				legal argument, or otherwise addresses matters involved in the case.
(43) Practical Applications of Real Estate
				Appraisal (PAREA)--Training Programs approved by the AQB that utilize simulated
				experience training and serve as an alternative to the traditional
				Supervisor/Trainee experience model.
(44) Qualifying real estate appraisal
				course--Those courses approved by the Appraiser Qualifications Board as
				qualifying education.
(45) Real
				estate--An identified parcel or tract of land, including improvements, if
				any.
(46) Real estate appraisal
				experience--Valuation services performed as an appraiser or appraiser trainee
				by the person claiming experience credit. Significant real property appraisal
				experience requires active participation; mere observation of another
				appraiser's work is not real estate appraisal experience.
(47) Real estate-related financial
				transaction--Any transaction involving: the sale, lease, purchase, investment
				in, or exchange of real property, including an interest in property or the
				financing of property; the financing of real property or an interest in real
				property; or the use of real property or an interest in real property as
				security for a loan or investment including a mortgage-backed
				security.
(48) Real property--The
				interests, benefits, and rights inherent in the ownership of real
				estate.
(49) Record--All notices,
				pleadings, motions and intermediate orders; questions and offers of proof;
				objections and rulings on them; any decision, opinion or report by the Board;
				and all staff memoranda submitted to or considered by the Board.
(50) Report--Any communication, written or
				oral, of an appraisal, review, or analysis; the document that is transmitted to
				the client upon completion of an assignment.
(51) Residential property--Property that
				consists of at least one but not more than four residential units.
(52) Respondent--Any person subject to the
				jurisdiction of the Board, licensed or unlicensed, against whom any complaint
				has been made.
(53) Supervisory
				Appraiser--A certified general or residential appraiser who is designated as a
				supervisory appraiser, as defined by the AQB, for an appraiser trainee. The
				supervisory appraiser is responsible for providing active, personal and
				diligent supervision and direction of the appraiser trainee.
(54) Trade Association--A nonprofit voluntary
				member association or organization:
(A) whose
				membership consists primarily of persons who are licensed as appraisers and pay
				membership dues to the association or organization;
(B) that is governed by a board of directors
				elected by the members; and
(C)
				that subscribes to a written code of professional conduct or
				ethics.