Arizona § 6-457 - Appraisals
Full text of Arizona Arizona Revised Statutes § 6-457 — Appraisals, with citation guidance and answers to common questions.
§ 6-457. Appraisals
Every appraisal or reappraisal of property that an association is required to make shall be made as follows:
1. In accordance with the deputy director's rules and regulations on appraisals. Each appraisal shall be filed and preserved by the association during the life of the loan.
2. In the case of an insured or guaranteed loan, by any appraiser appointed by any lending, insuring or guaranteeing agency of the United States or of this state that shall insure or guarantee such loan, wholly or in part. A copy of any appraisal or of the commitment or certificate of the insuring or guaranteeing agency shall be filed and preserved by the association during the life of the loan.
3. The deputy director, when good cause exists, may cause an independent appraisal to be made of any property on which a loan has been made. The reasonable travel and subsistence expenses and compensation to such appraisers not in excess of comparable fees paid for the same or similar appraisals in the same area shall be paid by the association owning or holding such property as mortgagee.
Frequently Asked Questions About Arizona § 6-457
What does Arizona Revised Statutes § 6-457 cover?
Section 6-457 ("Appraisals") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 6-457?
A common citation format is "Arizona Revised Statutes § 6-457" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 6-457 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.