Washington Administrative Code › Title 308 - Licensing, Department of (See also Titles 36, 98 and 196) › Chapter 308-125 - Real estate appraisers › Section 308-125-010 - Definitions

Current through Register Vol. 24-14, July 15, 2024
(1) Words and terms
			 used in these rules shall have the same meaning as each has in the Certified
			 Real Estate Appraiser Act, (chapter 18.140 RCW) and the Uniform Standards of
			 Professional Appraisal Practice (USPAP).
(2) "Appraisal foundation" means a private
			 association of appraiser professional organizations. The appraisal foundation
			 develops appraisal standards which the regulatory agencies must use as minimum
			 standards for federally related transactions and it develops qualification
			 criteria for appraisers.
(3)
			 "Appraisal subcommittee" means a committee created by Title XI. It monitors all
			 activities related to the implementation of Title XI.
(4) "Appraisal standards board" means a board
			 established by the appraisal foundation for the purpose of developing,
			 publishing, interpreting and amending the
Uniform Standards of
			 Professional Appraisal Practice
.
(5) "The
Uniform Standards of
			 Professional Appraisal Practice
(USPAP)" means the current edition of
			 the publication in force of the appraisal standards board (ASB) of the
			 appraisal foundation. USPAP is the applicable standard for all appraisal
			 practice in the state of Washington regulated under the provisions of chapter
			 18.140 RCW.
(6) "Appraiser
			 qualifications board" means a board of the appraisal foundation for the purpose
			 of developing, publishing, interpreting and amending the real property
			 appraiser qualification criteria.
(7) "Real property appraiser qualification
			 criteria" means the minimum criteria establishing the minimum education,
			 experience and examination requirements for real property appraisers to obtain
			 a state certification as established by the appraiser qualifications board
			 (AQB) of the appraisal foundation under the provisions of Title XI of the
			 Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989,
			 and any additional qualifying criteria established by the director in
			 accordance with chapter 18.140 RCW.
(8) "Classroom hour" means fifty minutes out
			 of each sixty minute hour.
(9)
			 "Full-time" means the equivalent twelve-month period in which an applicant
			 works at least one thousand hours in real estate appraisal.
(10) "Required core curriculum" means a set
			 of appraiser subject matter areas (known as "modules") that require a specified
			 number of educational hours at each credential level as established by the
			 appraiser qualifications board.
(11) "Module" means an appraisal subject
			 matter area (and required hours of coverage) as identified in the required core
			 curriculum.
(12) "Residential
			 properties" means one to four single family residential units and lots where
			 the highest and best use is for one to four family purposes.
(13) "Significant professional appraisal
			 assistance" shall include but not be limited to the work contributed or
			 performed toward the completion of an appraisal report by either a trainee,
			 state-licensed, or state-certified appraiser, while under the direct
			 supervision of a certified residential appraiser or certified general appraiser
			 as required by the department as qualifying appraisal experience for licensing.
			 Significant professional appraisal assistance shall consist of identifying and
			 analyzing the scope of work, collection of data, analyzing data to derive an
			 opinion of value, or writing the appraisal report in accordance with the
Uniform Standards of Professional Appraisal Practice
.
(14) "Inactive status" means the
			 status of an appraiser license or certification that is not expired and is
			 eligible for reinstatement or renewal. An appraiser license in inactive status
			 is not eligible to provide real estate appraisal services.
Statutory Authority:
				  RCW
				  18.140.030(1), (7), (8), and
				  (15). 08-17-016, § 308-125-010, filed
				  8/8/08, effective 9/8/08; 06-06-069, § 308-125-010, filed 2/28/06,
				  effective 4/1/06. Statutory Authority:
				  RCW
				  18.140.030(1). 97-02-004,
				  § 308-125-010, filed 12/20/96, effective 1/20/97. Statutory Authority:
				  RCW
				  18.140.030(1) and
				  18.140.090. 95-17-078, §
				  308-125-010, filed 8/21/95, effective 9/21/95. Statutory Authority:
				  RCW
				  18.140.030(1). 93-17-020,
				  § 308-125-010, filed 8/10/93, effective 9/10/93. Statutory Authority:
				  RCW
				  18.140.030(1)(14) and
				  chapter 18.40 RCW. 92-18-018, § 308-125-010, filed 8/24/92, effective
				  9/24/92. Statutory Authority:
				  RCW
				  18.140.030. 91-04-074, § 308-125-010,
				  filed 2/5/91, effective 3/8/91.