Or. Admin. Code § 161-025-0010

Current through Register Vol. 63, No. 12, December 1, 2024

Section 161-025-0010 - State Licensed Appraiser

(1) A state licensed appraiser (SLA) is authorized to appraise:

(a) Non-complex, one-to-four family residential units having a transaction value of less than $1,000,000;

(b) Complex one-to-four family residential units having a transaction value of less than $400,000.

(2) If, during the course of an appraisal assignment of a one-to-four family residential property, the state licensed appraiser identifies factors that would result in the property, market conditions, property characteristics, or form of ownership, to be a complex one-to-four family residential property appraisal having a transaction value of $400,000 or more, they must inform the client that the assignment is outside the scope of their license, withdraw from or decline the assignment, and advise the client that a state certified residential or certified general appraiser must complete the assignment. The same is true for all other types of real property found to have a transaction value of $400,000 or more.

(3) A state licensed appraiser may appraise rural properties with one or more of the following:

(a) One to four unit single family residential properties:

(b) Other rural properties primarily used for recreation or other non-income producing purposes.

(4) A state licensed appraiser may not appraise rural properties with one or more of the following:

(a) Primary use for production of agricultural income which is included in the value:

(b) Commercially valuable timber and/or mineral interests which is included in the value;

(c) Development potential for commercial or industrial improvements;

(d) Commercial/industrial improvements;

(e) Land or properties with environmental hazards.

(5) The state licensed appraiser classification does not include the appraisal of subdivisions for which a development analysis/appraisal is necessary.

(6) The state licensed appraiser may appraise properties involving partial taking or condemnation actions where the value of the larger parcel is within the scope of practice for the state licensed appraiser. If, during the course of a condemnation or partial taking appraisal assignment, the appraiser could reasonably expect the before value of the larger parcel to exceed the allowable transaction value for the state licensed appraiser, the appraiser shall inform the client for whom the appraisal is being performed that the assignment exceeds the scope of their appraiser's license and withdraw from or decline the assignment. In condemnation, "larger parcel" is defined as that portion of a property which has unity of ownership, contiguity, and unity of use. These are the three conditions which must be present to establish the larger parcel for the purpose of considering the extent of severance. Condemnation means:

(a) The process by which property is acquired for public purposes through legal proceedings under the power of eminent domain;

(b) The act of a federal, state, county, or city government or district or public utility corporation vested with the right of eminent domain (also referred to as the "sovereign") to take private property for public use when a public necessity exists;

(c) Upon payment of just compensation, the act of a sovereign in substituting itself in the place of the owner and taking all or part of the rights of the owner of the property.

Or. Admin. Code § 161-025-0010

ACLB 1-1992(Temp), f. & cert. ef. 1-23-92; ACLB 2-1992, f. & cert. ef. 4-30-92; ACLB 4-1993(Temp), f. & cert. ef. 6-25-93; Reverted to ACLB 2-1992, f. & cert. ef. 4-30-92; ACLB 1-1994, f. & cert. ef. 2-1-94; ACLB 3-1995, f. & cert. ef. 2-13-96; ACLB 1-1998, f. 6-24-98, cert. ef. 7-1-98; ACLB 1-2002, f. & cert. ef. 2-26-02; ACLB 2-2004, f. 5-25-04, cert. ef. 6-1-04; ACLB 4-2005, f. & cert. ef. 11-2-05; ACLB 3-2008, f. & cert. ef. 8-13-08; ACLB 5-2014, f. 12-19-14, cert. ef. 1/1/2015; ACLB 1-2023, amend filed 07/24/2023, effective 7/24/2023; ACLB 1-2024, amend filed 07/30/2024, effective 7/30/2024

Statutory/Other Authority: ORS 674.305(8) & 674.310

Statutes/Other Implemented: ORS 674