- Joined
- May 2, 2002
- Professional Status
- Certified General Appraiser
- State
- Arkansas
An appraiser / state legislator is responsible for the Registered appraiser law in arkansas which the state board did not endorse, and frankly, I doubt even wanted to deal with.
But what laws do you think should be promoted to the various legislatures to improve the profession?
I think a state law that forbids punitive damages against an appraiser would be a net plus. Couple that with loser pays.
State law setting 2 years as a statute of limitations. If the appraisal is not contested by then, in my opinion it is a frivolous claim anyway.
Forbidding anyone but the client or intended user from filing a lawsuit against the appraiser in state court. (but allowing borrowers to file complaints against appraisers to the board) Such complaints should be investigated by a representative or employee of the board with adequate certification to reappraise the property or review the report.
No one needs a cloud over their head for years. Require the Board investigate and act upon a complaint within 6 mo. or be automatically dismissed.
Lien laws for appraisers allowing them to attach lien against properties where they have not been paid by a lender.
Codify the notion that there can be no damage unless USPAP is violated seriously enough to affect the value indication. Proof of USPAP violation should be required in the form of a review by a certified appraiser with certification equal or greater than the license of the person being sued.
What others do you suggest? OR why would you differ from the suggestions above?
But what laws do you think should be promoted to the various legislatures to improve the profession?
I think a state law that forbids punitive damages against an appraiser would be a net plus. Couple that with loser pays.
State law setting 2 years as a statute of limitations. If the appraisal is not contested by then, in my opinion it is a frivolous claim anyway.
Forbidding anyone but the client or intended user from filing a lawsuit against the appraiser in state court. (but allowing borrowers to file complaints against appraisers to the board) Such complaints should be investigated by a representative or employee of the board with adequate certification to reappraise the property or review the report.
No one needs a cloud over their head for years. Require the Board investigate and act upon a complaint within 6 mo. or be automatically dismissed.
Lien laws for appraisers allowing them to attach lien against properties where they have not been paid by a lender.
Codify the notion that there can be no damage unless USPAP is violated seriously enough to affect the value indication. Proof of USPAP violation should be required in the form of a review by a certified appraiser with certification equal or greater than the license of the person being sued.
What others do you suggest? OR why would you differ from the suggestions above?