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Minnesota Statutes Real Estate Sales Regulations (Ch. 82-83) § 82B.11. Classes of license

Current as of January 01, 2023 | Updated by FindLaw Staff

Subdivision 1. Generally. There are five classes of license for real estate appraisers.

Subd. 2. Repealed by Laws 2019, 1st Sp., c. 7, art. 10, § 15(b), eff. Jan. 1, 2020.

Subd. 2a.Trainee real property appraiser. The scope of practice for a trainee real property appraiser is the appraisal of properties which a certified residential real property appraiser or certified general real property appraiser acting as the supervisory appraiser is permitted and competent to appraise.

Subd. 3.Licensed residential real property appraiser. A licensed residential real property appraiser may appraise noncomplex residential property or agricultural property having a transaction value less than $1,000,000 and complex residential or agricultural property having a transaction value less than $400,000.

Subd. 4. Certified residential real property appraiser. A certified residential real property appraiser may appraise residential property or agricultural property without regard to transaction value or complexity.

Subd. 5. Certified general real property appraiser. A certified general real property appraiser may appraise all types of real property.

Subd. 6. Temporary practice. (a) The commissioner shall issue a license for temporary practice as a real estate appraiser under subdivision 3, 4, or 5 to a person certified or licensed by another state if:

(1) the appraiser's business is of a temporary nature; and

(2) the appraiser registers with the commissioner to obtain a temporary license before conducting appraisals within the state.

(b) The term of a temporary practice license is the lesser of:

(1) the time required to complete the assignment; or

(2) 12 months.

If more than 12 months are necessary to complete the assignment, a new temporary application and fee is required.

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Cite this article: FindLaw.com - Minnesota Statutes Real Estate Sales Regulations (Ch. 82-83) § 82B.11. Classes of license - last updated January 01, 2023 | https://codes.findlaw.com/mn/real-estate-sales-regulations-ch-82-83/mn-st-sect-82b-11/

Read this complete Minnesota Statutes Real Estate Sales Regulations (Ch. 82-83) § 82B.11. Classes of license on Westlaw

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