SECTION 153.1. Definitions

The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise:

(1) ACE--Appraiser Continuing Education.

(2) Act--The Texas Appraiser Licensing and Certification Act.

(3) Administrative Law Judge--A judge employed by the State Office of Administrative Hearings (SOAH).

(4) Analysis--The act or process of providing information, recommendations or conclusions on diversified problems in real estate other than estimating value.

(5) Applicant--A person seeking a certification, license, approval as an appraiser trainee, or registration as a temporary out-of-state appraiser from the Board.

(6) Appraisal practice--Valuation services performed by an individual acting as an appraiser, including but not limited to appraisal and appraisal review.

(7) Appraisal report--A report as defined by and prepared under the USPAP.

(8) Appraisal Standards Board--The Appraisal Standards Board (ASB) of the Appraisal Foundation, or its successor.

(9) Appraisal Subcommittee--The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council or its successor.

(10) Appraiser Qualifications Board--The Appraiser Qualifications Board (AQB) of the Appraisal Foundation, or its successor.

(11) Appraiser trainee--A person approved by the Board to perform appraisals or appraiser services under the active, personal and diligent supervision and direction of the supervisory appraiser.

(12) Board--The Texas Appraiser Licensing and Certification Board.

(13) Certified General Appraiser--A certified appraiser who is authorized to appraise all types of real property.

(14) Certified Residential Appraiser--A certified appraiser who is authorized to appraise one-to-four unit residential properties without regard to value or complexity.

(15) Classroom course--A course in which the instructor and students interact face to face, in real time and in the same physical location.

(16) Classroom hour--Fifty minutes of instruction out of each sixty-minute segment of actual classroom session time.

(17) Client--Any party for whom an appraiser performs an assignment.

(18) College--Junior or community college, senior college, university, or any other postsecondary educational institution established by the Texas Legislature, which is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools or like commissions of other regional accrediting associations, or is a candidate for such accreditation.

(19) Executive Director--The Executive Director of the Texas Appraiser Licensing and Certification Board.

(20) Complainant--Any person who has made a written complaint to the Board against any person subject to the jurisdiction of the Board.

(21) Complex appraisal--An appraisal in which the property to be appraised, the form of ownership, market conditions, or any combination thereof are atypical.

(22) Continuing education cycle--the period in which a license holder must complete continuing education as required by the AQB.

(23) Council--The Federal Financial Institutions Examination Council (FFIEC) or its successor.

(24) Day--A calendar day unless clearly indicated otherwise.

(25) Distance education--Any educational process based on the geographical separation of student and instructor, as defined by the AQB. Distance education includes synchronous delivery, when the instructor and student interact simultaneously online; asynchronous delivery, when the instructor and student interaction is non-simultaneous; and hybrid or blended course delivery that allows for both in-person and online interaction, either synchronous or asynchronous.

(26) Feasibility analysis--A study of the cost-benefit relationship of an economic endeavor.

(27) Federal financial institution regulatory agency--The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the National Credit Union Administration, or the successors of any of those agencies.

(28) Federally related transaction--Any real estate-related transaction that requires the services of an appraiser and that is engaged in, contracted for, or regulated by a federal financial institution regulatory agency.

(29) Foundation--The Appraisal Foundation (TAF) or its successor.

(30) Inactive certificate or license--A general certification, residential certification, or state license which has been placed on inactive status by the Board.

(31) License--The whole or a part of any Board permit, certificate, approval, registration or similar form of permission required by law.

(32) License holder--A person certified, licensed, approved, authorized or registered by the Board under the Texas Appraiser Licensing and Certification Act.

(33) Licensed Residential Appraiser--A licensed appraiser who is authorized to appraise non-complex one-to-four residential units having a transaction value less than $1 million and complex one-to-four residential units having a transaction value less than $400,000.

(34) Licensing--Includes the Board processes respecting the granting, disapproval, denial, renewal, certification, revocation, suspension, annulment, withdrawal or amendment of a license.

(35) Market analysis--A study of market conditions for a specific type of property.

(36) Nonresidential real estate appraisal course--A course with emphasis on the appraisal of nonresidential real estate properties which include, but are not limited to, income capitalization, income property, commercial appraisal, rural appraisal, agricultural property appraisal, discounted cash flow analysis, subdivision analysis and valuation, or other courses specifically determined by the Board.

(37) Nonresidential property--A property which does not conform to the definition of residential property.

(38) Party--The Board and each person or other entity named or admitted as a party.

(39) Person--Any individual, partnership, corporation, or other legal entity.

(40) Personal property--Identifiable tangible objects and chattels that are considered by the general public as being "personal," for example, furnishings, artwork, antiques, gems and jewelry collectibles, machinery and equipment; all tangible property that is not classified as real estate.

(41) Petitioner--The person or other entity seeking an advisory ruling, the person petitioning for the adoption of a rule, or the party seeking affirmative relief in a proceeding before the Board.

(42) Pleading--A written document, submitted by a party or a person seeking to participate in a case as a party, that requests procedural or substantive relief, makes claims, alleges facts, makes a legal argument, or otherwise addresses matters involved in the case.

(43) Practical Applications of Real Estate Appraisal (PAREA)--Training Programs approved by the AQB that utilize simulated experience training and serve as an alternative to the traditional Supervisor/Trainee experience model.

(44) Qualifying real estate appraisal course--Those courses approved by the Appraiser Qualifications Board as qualifying education.

(45) Real estate--An identified parcel or tract of land, including improvements, if any.

(46) Real estate appraisal experience--Valuation services performed as an appraiser or appraiser trainee by the person claiming experience credit. Significant real property appraisal experience requires active participation; mere observation of another appraiser's work is not real estate appraisal experience.

(47) Real estate-related financial transaction--Any transaction involving: the sale, lease, purchase, investment in, or exchange of real property, including an interest in property or the financing of property; the financing of real property or an interest in real property; or the use of real property or an interest in real property as security for a loan or investment including a mortgage-backed security.

(48) Real property--The interests, benefits, and rights inherent in the ownership of real estate.

(49) Record--All notices, pleadings, motions and intermediate orders; questions and offers of proof; objections and rulings on them; any decision, opinion or report by the Board; and all staff memoranda submitted to or considered by the Board.

(50) Report--Any communication, written or oral, of an appraisal, review, or analysis; the document that is transmitted to the client upon completion of an assignment.

(51) Residential property--Property that consists of at least one but not more than four residential units.

(52) Respondent--Any person subject to the jurisdiction of the Board, licensed or unlicensed, against whom any complaint has been made.

(53) Supervisory Appraiser--A certified general or residential appraiser who is designated as a supervisory appraiser, as defined by the AQB, for an appraiser trainee. The supervisory appraiser is responsible for providing active, personal and diligent supervision and direction of the appraiser trainee.

(54) Trade Association--A nonprofit voluntary member association or organization:

(A) whose membership consists primarily of persons who are licensed as appraisers and pay membership dues to the association or organization;

(B) that is governed by a board of directors elected by the members; and

(C) that subscribes to a written code of professional conduct or ethics.

(55) USPAP--Uniform Standards of Professional Appraisal Practice adopted by the Appraisal Standards Board of the Appraisal Foundation.

(56) Workfile--Documentation necessary to support an appraiser's analysis, opinions, and conclusions, and in compliance with the record keeping provisions of USPAP.

Source Note: The provisions of this §153.1 adopted to be effective March 2, 1992, 17 TexReg 1231; amended to be effective November 10, 1993, 18 TexReg 7542; amended to be effective July 21, 1994, 19 TexReg 5354; amended to be effective September 1, 1995, 20 TexReg 6202; amended to be effective January 1, 1999, 23 TexReg 6443; amended to be effective November 17, 1999, 24 TexReg 10090; amended to be effective April 1, 2001, 26 TexReg 2163; amended to be effective January 1, 2003, 27 TexReg 11146; amended to be effective October 16, 2003, 28 TexReg 8942; amended to be effective January 1, 2006, 30 TexReg 8689; amended to beeffective June 6, 2006, 31 TexReg 4624; amended to be effective August 28, 2007, 32 TexReg 5368; amended to be effective September 20, 2010, 35 TexReg 8496; amended to be effective November 1, 2011, 36 TexReg 7316; amended to be effective June 8, 2014, 39 TexReg 4251; amended to be effective December 14, 2014, 39 TexReg 9667; amended to be effective September 7, 2015, 40 TexReg 5789; amended to be effective January 1, 2016, 40 TexReg 8890; amended to be effective September 15, 2018; 43 TexReg 5776; amended to be effective September 8, 2022, 47 TexReg 5336; amended to be effective December 3, 2023, 48 TexReg 6903