{"data":{"id":"us-ok/okla.-stat.-tit.-59-59-858-703","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 59, § 59-858-703","heading":"Definitions","body":"As used in the Oklahoma Certified Real Estate Appraisers Act:\n\n1. \"Appraisal\" or \"real estate appraisal\" means an analysis,\n\nopinion or conclusion relating to the nature, quality, value or\n\nutility of specified interests in, or aspects of, identified real\n\nestate other than oil, gas, coal, water and all other energy and\n\nnonfuel mineral and elements or the value of underground space to be\n\nused for storage of commodities or for the disposal of waste unless\n\nthey are appraised as part of a federally related transaction\n\ncovered by the Financial Institutions Reform, Recovery, and\n\nEnforcement Act of 1989. An appraisal may be classified by subject\n\nmatter into either a valuation or an analysis. A \"valuation\" is an\n\nestimate of the value of real estate or real property. An\n\n\"analysis\" is a study of real estate or real property other than\n\nestimating value;\n\n2. \"Appraisal report\" means any written or oral communication\n\nof an appraisal;\n\n3. \"Appraisal Subcommittee\" means the subcommittee created by\n\nTitle XI of the Financial Institutions Reform, Recovery, and\n\nEnforcement Act of 1989;\n\n4. \"Appraiser Qualifications Board\" (AQB) means the independent\n\nboard appointed by the Board of Trustees of the Appraisal\n\nFoundation. The AQB establishes educational, experience, and\n\nexamination criteria for appraisers. Title XI of the Financial\n\nInstitutions Reform, Recovery, and Enforcement Act (FIRREA) of 1989\n\nrequires that state certified appraisers must meet the minimum\n\nqualifications set by the AQB;\n\n5. \"Board\" means the Real Estate Appraiser Board established\n\npursuant to the provisions of the Oklahoma Certified Real Estate\n\nAppraisers Act;\n\n6. \"Certification\" shall refer to either a trainee appraiser, a\n\nstate licensed appraiser, a state certified residential appraiser or\n\na state certified general appraiser;\n\n7. \"Certified appraisal or certified appraisal report\" means an\n\nappraisal or appraisal report given or signed and certified as such\n\nby a trainee appraiser, a state licensed, state certified\n\nresidential or state certified general real estate appraiser. When\n\nidentifying an appraisal or appraisal report as \"certified\", the\n\ntrainee, state licensed, state certified residential or state\n\ncertified general real estate appraiser must indicate which type of\n\ncertification is held. A certified appraisal or appraisal report\n\nrepresents to the public that it meets the appraisal standards\n\ndefined in the Oklahoma Certified Real Estate Appraisers Act;\n\n8. \"Chairperson\" means the chairperson of the Real Estate\n\nAppraiser Board;\n\n9. \"Department\" means the Insurance Department;\n\n10. \"Director\" means the individual employed by the Board who\n\nis responsible for supervising the regulation of appraiser and\n\nappraisal management companies' credentialing and enforcement\n\nprograms; serves as liaison between the Board and other state and\n\nfederal entities and professional organizations; directs and\n\ncoordinates the day-to-day operations of the Board including\n\ntraining staff, budgeting and ensuring adherence to the Oklahoma\n\nOpen Meeting Act and the Oklahoma Open Records Act;\n\n11. \"Real estate\" means an identified parcel or tract of land\n\nincluding improvements, if any;\n\n12. \"Real property\" means one or more defined interests,\n\nbenefits, and rights inherent in the ownership of real estate;\n\n13. \"Trainee, state licensed, state certified residential or\n\nstate certified general real estate appraiser\" means a person who\n\ndevelops and communicates real estate appraisals and who holds a\n\ncurrent, valid certificate issued to such person for either general\n\nor residential real estate pursuant to provisions of the Oklahoma\n\nCertified Real Estate Appraisers Act;\n\n14. \"Appraisal assignment\" means an engagement for which an\n\nappraiser is employed or retained to act, or would be perceived by\n\nthird parties or the public as acting, as a disinterested third\ntate appraisals and who holds a\n\ncurrent, valid certificate issued to such person for either general\n\nor residential real estate pursuant to provisions of the Oklahoma\n\nCertified Real Estate Appraisers Act;\n\n14. \"Appraisal assignment\" means an engagement for which an\n\nappraiser is employed or retained to act, or would be perceived by\n\nthird parties or the public as acting, as a disinterested third\n\nparty in rendering an unbiased analysis, opinion or conclusion\n\nrelating to the nature, quality, value or utility of specified\n\ninterests in, or aspects of, identified real estate; and\n\n15. \"Specialized services\" means those appraisal services which\n\ndo not fall within the definition of appraisal assignment. The term\n\n\"specialized services\" may include valuation work and analysis work.\n\nRegardless of the intention of the client or employer, if the\n\nappraiser would be perceived by third parties or the public as\n\nacting as a disinterested third party in rendering an unbiased\n\nanalysis, opinion or conclusion, the work is classified as an\n\nappraisal assignment and not \"specialized services\".","path":["OK Code","Title 59"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os59.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"cb4afeb907d09c995872484dfc5fe1fa0e654d7b529728f6eaf3f8f2fc6661ee","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-59-59-858-702","next":"us-ok/okla.-stat.-tit.-59-59-858-704"},"notice":"GroundRules: Original legal text. Not legal advice."}