{"data":{"id":"us-ak/as-08.87.900","jurisdiction":"us-ak","citation":"AS 08.87.900","heading":"Definitions.","body":"In this chapter,\n(1) “analysis assignment” means an analysis, opinion, or conclusion prepared by a real estate appraiser that relates to the nature, quality, or utility of certified real estate or real property;\n(2) “appraisal” means an analysis, opinion, or conclusion prepared by a real estate appraiser relating to the nature, quality, value, energy efficiency, or utility of specified interests in, or aspects of, identified real estate, and includes a valuation appraisal, an analysis assignment, and a review assignment;\n(3) “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 person 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;\n(4) “appraisal management services” includes the performance of any of the following functions on behalf of a lender, financial institution, or other person:\n(A) administration of an appraiser panel;\n(B) recruitment, retention, or selection of real estate appraisers for the performance of appraisal services;\n(C) contracting with real estate appraisers to perform appraisals;\n(D) review of a completed appraisal before the delivery of the appraisal or review assignment to the person that ordered the appraisal;\n(5) “appraiser panel” means a group of licensed or certified real estate appraisers who perform appraisals as independent contractors for a real estate appraisal management company;\n(6) “appraisal report” means any communication, written or oral, of an appraisal;\n(7) “board” means the Board of Certified Real Estate Appraisers;\n(8) “borrower” means a person who applies for a mortgage loan;\n(9) “company” means a real estate appraisal management company required to register under AS 08.87.130 that performs appraisal management services;\n(10) “controlling person” means a person who\n(A) owns more than 10 percent of a real estate appraisal management company;\n(B) is an officer or director of a real estate appraisal management company;\n(C) is employed and authorized by a real estate appraisal management company to enter into a contractual relationship with another person for the performance of appraisal management services or with a real estate appraiser to perform an appraisal; or\n(D) has the authority to direct the management or policies of a real estate appraisal management company;\n(11) “department” means the Department of Commerce, Community, and Economic Development;\n(12) “general real estate appraiser” means a real estate appraiser certified to appraise all types of real property;\n(13) “institutional real estate appraiser” means a real estate appraiser employed full-time by a financial institution with offices in the state;\n(14) “principal dwelling” means a residential structure or mobile home that contains one to four units but does not include a vacation or second home unless the borrower buys or builds a new dwelling that will become the primary location that the borrower inhabits within a year after the purchase or completion of construction;\n(15) “real estate” means an identified parcel or tract of land, including improvements, but excluding subsurface natural resource values;\n(16) “real property” means one or more defined interests, benefits, and rights inherent in the ownership of real estate;\n(17) “residential real estate appraiser” means a real estate appraiser certified to appraise residential real property, subject to the limitations of AS 08.87.100(2);\n(18) “review assignment” means an analysis, opinion, or conclusion prepared by a real estate appraiser that forms an opinion as to the adequacy and appropriateness of a valuation appraisal or an analysis assignment;\n(19) “valuation appraisal” means an analysis, opinion, or conclusion prepared by a real estate appraiser that estimates the value of an identified parcel of real estate, or identified real property at a particular time.","path":["Title 8. Business and Professions.","Chapter 87. Real Estate Appraisers.","Article 5. General Provisions."],"source_url":"https://www.akleg.gov/basis/statutes.asp#08.87.900","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:16:30Z","sha256":"648c3a48c433897428bd5d117cbd8cccbff7f2285e454918890d7b87a84f0413","source_id":"us-ak","stale":false,"prev":"us-ak/as-08.87.340","next":"us-ak/as-08.88.010"},"notice":"GroundRules: Original legal text. Not legal advice."}