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2017 Maryland Code
Business Occupations and Professions
Title 16 - Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors.
Subtitle 4 - Miscellaneous Provisions for Real Estate Appraisers
§ 16-401. Records
Universal Citation:
MD Bus Occ & Prof Code § 16-401 (2017)
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- (a) Retention generally. -- Subject to the provisions of subsection (b) of this section, a licensed real estate appraiser shall keep, for 5 years from the date of delivery to the client, the original or a copy of:
- (1) each contract the licensee enters into for the provision of real estate appraisal services;
- (2) each appraisal report the licensee prepares or signs; and
- (3) all supporting data that the licensee assembles or formulates to prepare an appraisal report.
- (b) Time period. -- If, within the 5-year period for the retention of records, a licensed real estate appraiser is given notice that an appraisal or appraisal report is involved in litigation, a new 5-year period shall start on the date of the final disposition of the litigation.
- (c) Extension of time period. -- On request, a licensed real estate appraiser shall make any record required to be kept under this section available to the Commission to inspect or copy.
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