§ 16-402. Fees for appraisal services
West's Annotated Code of MarylandBusiness Occupations and Professions
MD Code, Business Occupations & Professions, § 16-402
§ 16-402. Fees for appraisal services
(2) “Independent appraisal service” means an engagement for which a licensed real estate appraiser is perceived by a third party or the public to act as a disinterested third party in rendering an unbiased analysis, opinion, or conclusion about the nature, quality, use, or value for identified real estate, regardless of the intent of the employer.
(b) A licensed real estate appraiser who provides an independent appraisal service may not accept a fee that is contingent on a predetermined analysis, opinion, or conclusion or on the results achieved by the appraisal assignment.
(c)(1) A licensed real estate appraiser who provides a specialized appraisal service may be paid a fixed fee or a fee that is contingent on the results achieved by the specialized appraisal service.
Credits
Added by Acts 1990, c. 594. Renumbered from Business Occupations and Professions § 15.5-402 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.
MD Code, Business Occupations & Professions, § 16-402, MD BUS OCCUP & PROF § 16-402
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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