160-A - Definitions. - New York Statutes

§ 160-a. Definitions. As used in this article the following terms shall mean: 1."Analysis" is a study of real estate or real property other than estimating value. 2. "Appraisal" or "real estate appraisal" means an analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in, or aspects of, identified real estate. An appraisal may be classified by subject matter into either a valuation or an analysis. 3. "Appraisal report" means any written communication of an appraisal. 4. "Board" means the state board of real estate appraisal established pursuant to the provisions of section one hundred sixty-c of this article. 5. (a) "Certified appraisal" or "certified appraisal report" means an appraisal or appraisal report given or signed and certified as such by a certified real estate appraiser. When identifying an appraisal or appraisal report as "certified", the state certified real estate appraiser must indicate which type of certification is held. A certified appraisal or appraisal report represents to the public that it meets the appraisal standards defined in this article. (b) "Licensed appraisal" or "licensed appraisal report" means an appraisal or appraisal report given or signed and authenticated as such by a licensed real estate appraiser. A licensing appraisal or appraisal report represents to the public that it meets the appraisal standards as prescribed by the board. 6. (a) "State certified real estate appraiser" means a person who develops and communicates real estate appraisal and who holds a current, valid certificate issued to him or her for either general or residential real estate under the provisions of this article. (b) "State licensed real estate appraiser" means a person who develops and communicates real property appraisals and who holds a current valid license issued to him or her for residential real property under the provisions of this article. (c) "State licensed real estate appraiser assistant" means a person who assists and is supervised by a state licensed real estate appraiser or state certified real estate appraiser and who holds a current valid license issued to him or her under the provisions of this article. 7. "Department" shall mean the department of state. 8."Real estate" means an identified parcel or tract of land, including improvements, if any. 9. "Real property" means one or more defined interests, benefits and rights inherent in the ownership of real estate. 10. "Valuation" is an estimate of the value of real estate or real property.