Maine § 14037. - Licensed residential real property appraiser
Full text of Maine Maine Revised Statutes § 14037. — Licensed residential real property appraiser, with citation guidance and answers to common questions.
§ 14037.. Licensed residential real property appraiser
1. Scope of license. For federally related transactions, a residential real property appraiser license entitles the holder to appraise noncomplex residential property of one to 4 units and complex residential property of one to 4 units as specified in the criteria adopted and published by the appraiser qualifications board in effect at the time of the transaction. For purposes of this section, "complex residential property of one to 4 units" means property that is atypical based on the nature of the property, the form of ownership or the market conditions. For nonfederally related transaction appraisals, "transaction value" means market value. A residential real property appraiser license entitles the holder to appraise vacant or unimproved land that is used for one to 4 family purposes or for which the highest and best use is for one to 4 family purposes. A residential real property appraiser license does not entitle the holder to appraise subdivisions for which a development analysis and appraisal is necessary.
2. Professional qualifications. An applicant for a residential real property appraiser license must meet the licensing requirements established by the appraiser qualifications board. As a prerequisite to taking the examination required by section 14037‑A, an applicant must meet the requirements specified in rules adopted by the appraiser qualifications board.
A. [PL 2019, c. 503, Pt. D, §3 (RP).]
B. [PL 2013, c. 547, §11 (RP); PL 2013, c. 547, §19 (AFF).]
C. [PL 2019, c. 503, Pt. D, §3 (RP).]
D. [PL 2019, c. 503, Pt. D, §3 (RP).]
3. Effective date.
Frequently Asked Questions About Maine § 14037.
What does Maine Revised Statutes § 14037. cover?
Section 14037. ("Licensed residential real property appraiser") is part of the Maine Revised Statutes, the codified statutory law of Maine. 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 Maine § 14037.?
A common citation format is "Maine Revised Statutes § 14037." (Maine). 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 Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 14037. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine 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 Maine.