2015 Minnesota Statutes
Chapters 82 - 83 — REAL ESTATE SALES REGULATIONS
Chapter 82B — REAL ESTATE APPRAISERS
Section 82B.11 — CLASSES OF LICENSE.
Subdivision 1. Generally. There are five classes of license for real estate appraisers.
Subd. 2. Trainee real property appraiser. When a net income capitalization analysis is not required by the uniform standards of professional appraisal practice, a trainee real property appraiser may appraise residential real property or agricultural property.
Subd. 3. Licensed residential real property appraiser. A licensed residential real property appraiser may appraise noncomplex residential property or agricultural property having a transaction value less than $1,000,000 and complex residential or agricultural property having a transaction value less than $250,000.
Subd. 4. Certified residential real property appraiser. A certified residential real property appraiser may appraise residential property or agricultural property without regard to transaction value or complexity.
Subd. 5. Certified general real property appraiser. A certified general real property appraiser may appraise all types of real property.
Subd. 6. Temporary practice. (a) The commissioner shall issue a license for temporary practice as a real estate appraiser under subdivision 3, 4, or 5 to a person certified or licensed by another state if:
(1) the property to be appraised is part of a federally related transaction and the person is licensed to appraise property limited to the same transaction value or complexity provided in subdivision 3, 4, or 5;
(2) the appraiser's business is of a temporary nature; and
(3) the appraiser registers with the commissioner to obtain a temporary license before conducting appraisals within the state.
(b) The term of a temporary practice license is the lesser of:
(1) the time required to complete the assignment; or
(2) 12 months.
If more than 12 months are necessary to complete the assignment, a new temporary application and fee is required.
History:1989 c 341 art 1 s 11; 1991 c 97 s 4; 1992 c 363 art 1 s 3; 1992 c 587 art 4 s 1,2; 1993 c 309 s 25; 2005 c 100 s 11; 2006 c 235 s 2,3; 2011 c 108 s 45
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