N.Y. Comp. Codes R. & Regs. tit. 19 § 1101.4

Current through Register Vol. 46, No. 45, November 2, 2024

Section 1101.4 - Scope of practice for a licensed real estate appraiser assistant

(a) The scope of practice for a licensed real estate appraiser assistant is the appraisal of those real properties that the supervising appraiser is permitted to appraise.

(b) A licensed real estate appraiser assistant shall be directly supervised by a supervising real estate appraiser who shall be a State certified real estate appraiser and who shall be registered with the department in accordance with Part 1103.4 of this Title. The supervising real estate appraiser shall be responsible for the training and direct supervision of the appraiser assistant by:

(1) accepting responsibility for the appraisal report by signing and certifying the report;

(2) reviewing the appraiser assistant's work and reports; and

(3) personally inspecting each appraised property with the appraiser assistant until the supervising appraiser determines that the appraiser assistant is competent to conduct inspection on his or her own, in accordance with the competency rule of USPAP for the property type.

(c) An appraiser assistant may have more than one supervising appraiser, but an appraiser assistant must have at least one supervising appraiser for each appraisal assignment.

(d) An appraiser assistant and his or her supervising appraiser shall jointly maintain an appraisal log, which shall include, at a minimum, the following for each appraisal:

(1) the type of property;

(2) the client name and address;

(3) the address of the appraised property;

(4) a description of the work performed by the appraiser assistant and the scope of review and supervision of the supervising appraiser;

(5) the number of work hours;

(6) the signature and the State certification number of the supervising appraiser; and

(7) the date of the report.

(e) An appraiser assistant shall maintain a separate appraisal log for each supervising appraiser.

(f) An appraiser assistant shall be entitled to obtain copies of the appraisal reports he or she prepared. The supervising appraiser shall keep copies of those appraisal reports, in written or electronic form, for a period of five years or at least two years after final disposition of any judicial proceedings in which the supervising appraiser provided testimony related to the assignment, whichever period expires last.

N.Y. Comp. Codes R. & Regs. Tit. 19 § 1101.4