N.Y. Executive Law § 160-x: Classification of services

§ 160-x. Classification of services. 1. A client or employer may

retain or employ a state certified or licensed real estate appraiser to

act as a disinterested third party in rendering an unbiased estimate of

value or analysis. A client or employer may also retain or employ a

state certified or licensed real estate appraiser to provide specialized

services to facilitate the client's or employer's objectives. In either

case, the appraisal and the appraisal report must comply with the

provisions of this article.

2. For the purposes of this article, the term "appraisal assignment"

means an engagement for which an appraiser is employed or retained to

act, or would be perceived by third parties or the public as acting, as

a disinterested third party in rendering an unbiased analysis, opinion

or conclusion relating to the nature, quality, value or utility of

specified interests in, or aspects of, identified real estate.

3. For the purposes of this article, the term "specialized services"

means those appraisal services which do not fall within the definition

of appraisal assignment. The term "specialized services" may include

valuation work and analysis work. Regardless of the intention of the

client or employer, if the state certified or licensed real estate

appraiser would be perceived by third parties or the public as acting as

a disinterested third party in rendering an unbiased analysis, opinion

or conclusion, the work is classified as an appraisal assignment and not

"specialized services".