N.M. Admin. Code § 16.62.10.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 16.62.10.8 - TEMPORARY PRACTICE PERMITS

A. All persons who engage in the business of, act in the capacity of, advertise or display in any manner or otherwise assume to engage in the business of, or act as, a state real estate appraiser must have a board license or permit.

B. A temporary permit may be issued to non-resident appraiser licensed and certified appraiser for the purpose of performing an appraisal or an appraisal review.

C. Temporary practice for an appraisal review of a New Mexico real property:

(1) The reviewing appraiser must have a New Mexico residential certification or general certification.

(2) The temporary permit holder must have an active license residential, residential certification or general certification from another issuing agency that corresponds with or is higher than the level of licensure required to perform the appraisal.

(3) In the case of a review appraiser with an opinion of value, the review appraiser must have national USPAP compliance with competency in the report.

D. Temporary practice for an appraisal assignment of a New Mexico real property:

(1) Pursuant to Title XI, the board shall recognize, on a temporary basis, the certification or license of a real estate appraiser issued by another state.

(2) The temporary permit may only be issued on an assignment basis. A single assignment may include one or more properties under a single contract with a single client.

(3) The out of state appraiser must comply with the national USPAP and with the board's statutes and rules.

(4) The out of state appraiser is subject to the board's jurisdiction.

E. Applicants shall submit a form approved by the board to include the following:

(1) verification of license history and good standing as obtained from the national registry of real estate appraisers; the board may obtain verification and certification from the ASC website;

(2) the classification of the license or certification they hold;

(3) whether they are subject to disciplinary action in the state in which they are licensed or certified; if subject to disciplinary action, submittal of a final order and letter of closer should also be submitted;

(4) a statement certifying that the applicant's business in New Mexico is temporary and will not exceed 180 days;

(5) a statement and accompanying contract identifying the specific assignment to which the temporary permit will apply;

(6) an irrevocable statement consenting that suits and actions may be commenced against him/her in the proper court of any county of New Mexico arising from the applicant's actions as a state licensed or certified appraiser;

(7) the fee specified in 16.62.12 NMAC.

F. A temporary permit extension may be obtained upon the written request submitted to the board office by the temporary permit holder; a one-time 30-day extension will be granted to complete the specified assignment.

N.M. Admin. Code § 16.62.10.8

3/15/00; 16.62.10.8 NMAC - Rn, 16 NMAC 62.10.8, 9/13/2004; A, 11/25/06; A, 10/16/09; A, 08/21/10, Amended by New Mexico Register, Volume XXV, Issue 23, December 15, 2014, eff. 1/1/2015, Amended by New Mexico Register, Volume XXVII, Issue 24, December 30, 2016, eff. 1/15/2017