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Texas Occupations Code - OCC § 1103.004. Applicability of Chapter

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) This chapter does not apply to:

(1) a person who is authorized by law to perform an evaluation of real property for or to provide an evaluation of real property to another person;

(2) a real estate broker licensed under Chapter 1101 or a sales agent acting under the authority of a sponsoring broker who provides to another person a written analysis, opinion, or conclusion relating to the estimated price of real property if the analysis, opinion, or conclusion:

(A) is not referred to as an appraisal;

(B) is given in the ordinary course of the broker's business;  and

(C) is related to the actual or potential acquisition, disposition, encumbrance, or management of an interest in real property;

(3) an appraiser certified by a jurisdiction other than this state who performs an appraisal review of an appraisal performed on real property in this state, if the appraiser does not offer an opinion of value as part of the appraisal review;

(4) an employee of a federally regulated financial institution or any other person engaged by the institution who performs an evaluation of real property for use by the institution in a transaction for which the institution is not required to use the services of a licensed or certified appraiser under federal regulations adopted under Title XI, Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. Section 1833e) or under applicable state law;

(5) an employee of a non-bank financial institution or any other person engaged by the institution who provides an analysis, assessment, opinion, conclusion, notation, or compilation of data concerning the value of an interest in real property for use by the institution;

(6) the procurement or use of an automated valuation model;  or

(7) a person who:

(A) performs appraisals in connection with the Practical Applications of Real Estate Appraisal course as approved by the Appraiser Qualifications Board;  and

(B) does not use a title or a reference in violation of Section 1103.201(b).

(b) Notwithstanding Subsection (a)(7), the appraisals described by that subsection may be credited by the board toward satisfying the experience required to obtain a license or certificate under this chapter.

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Cite this article: FindLaw.com - Texas Occupations Code - OCC § 1103.004. Applicability of Chapter - last updated January 01, 2024 | https://codes.findlaw.com/tx/occupations-code/occ-sect-1103-004/

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