(a) Any person desiring to act as a licensed or certified real estate appraiser must file an application for a license as a real estate appraiser or certified real estate appraiser with the Board. The Board shall charge an application fee to be set by the Board pursuant to rules and regulations. The application shall be in such form and detail as the Board shall prescribe including the following:(1) the name and full address of the applicant, including the name and physical address of the business;(2) such other information as the Board shall require.
(1) the name and full address of the applicant, including the name and physical address of the business;
(2) such other information as the Board shall require.
(b) A Licensed Real Estate Appraiser may perform appraisals of all properties with a transaction value of up to $250,000 and of noncomplex residential properties with a transaction value of not more $1,000,000. In addition to the requirements in subsection (a) of this section, to qualify as a “Licensed Real Estate Appraiser”, an applicant must:(1) have attained the age of 18 years;(2) be a resident of the Virgin Islands;(3) possess a high school degree or its equivalent;(4) submit evidence that the applicant has successfully completed a course of study in real estate appraising prescribed by the Board that meets the standards set by the Appraiser Qualifications Board of the Appraisal Foundation that is conducted by an approved education provider;(5) demonstrate to the satisfaction of the Board the requisite hours and months of experience in real estate appraising as established by the AQB Criteria, within the last five years immediately preceding the filing of the licensing application;(6) after meeting the requirements set forth in paragraphs (4) and (5) of this subsection, stand for and successfully pass an examination approved and administered by the Board and consistent with the Uniform States Certification Examination issued or endorsed by the Appraiser Qualifications Board of the Appraisal Foundation, covering generally matters confronting licensed real estate appraisers.
(1) have attained the age of 18 years;
(2) be a resident of the Virgin Islands;
(3) possess a high school degree or its equivalent;
(4) submit evidence that the applicant has successfully completed a course of study in real estate appraising prescribed by the Board that meets the standards set by the Appraiser Qualifications Board of the Appraisal Foundation that is conducted by an approved education provider;
(5) demonstrate to the satisfaction of the Board the requisite hours and months of experience in real estate appraising as established by the AQB Criteria, within the last five years immediately preceding the filing of the licensing application;
(6) after meeting the requirements set forth in paragraphs (4) and (5) of this subsection, stand for and successfully pass an examination approved and administered by the Board and consistent with the Uniform States Certification Examination issued or endorsed by the Appraiser Qualifications Board of the Appraisal Foundation, covering generally matters confronting licensed real estate appraisers.
(c) A Certified Residential Real Estate Appraiser shall be authorized to appraise all properties with a transaction value of up to $250,000 and all residential real property consisting of one to four units or of complexity. In addition to the requirements of subsection (a) of this section, to qualify as a Certified Residential Real Estate Appraiser, an applicant must:(1) Have attained the age of 18 years of age;(2) be a resident of the Virgin Islands;(3) possess a high school degree or its equivalent;(4) submit evidence that the applicant has successfully completed a course of study in real estate appraising prescribed by the Board that meets the standards set by the Appraiser Qualifications Board of the Appraisal Foundation that is conducted by an approved education provider;(5) demonstrate to the satisfaction of the Board the requisite hours and months experience in real estate appraising as established by the AQB Criteria within the last five years immediately preceding the filing of the license application;(6) after meeting the requirements set forth in paragraphs (4) and (5) of this subsection, stand for and successfully pass an examination approved and administered by the Board and consistent with the Uniform States Certification Examination issued or endorsed by the Appraiser Qualifications Board of the Appraisal Foundation, covering generally matters confronting certified residential appraisers.
(1) Have attained the age of 18 years of age;
(2) be a resident of the Virgin Islands;
(3) possess a high school degree or its equivalent;
(4) submit evidence that the applicant has successfully completed a course of study in real estate appraising prescribed by the Board that meets the standards set by the Appraiser Qualifications Board of the Appraisal Foundation that is conducted by an approved education provider;
(5) demonstrate to the satisfaction of the Board the requisite hours and months experience in real estate appraising as established by the AQB Criteria within the last five years immediately preceding the filing of the license application;
(6) after meeting the requirements set forth in paragraphs (4) and (5) of this subsection, stand for and successfully pass an examination approved and administered by the Board and consistent with the Uniform States Certification Examination issued or endorsed by the Appraiser Qualifications Board of the Appraisal Foundation, covering generally matters confronting certified residential appraisers.
(d) A Certified General Real Estate Appraiser may perform appraisals of all properties. In addition to the requirements in subsection (a), to qualify as a “Certified General Real Estate Appraiser”, an applicant must:(1) have attained the age of 18 years;(2) be a resident of the Virgin Islands;(3) possess a high school degree or its equivalent;(4) submit evidence that the applicant has successfully completed a course of study in real estate appraising prescribed by the Board that meets the standards set by the Appraiser Qualifications Board of the Appraisal Foundation that is conducted by an approved education provider;(5) demonstrate to the satisfaction of the Board the requisite hours and months of experience in real estate appraising as established by the AQB Criteria, within the last five years immediately preceding the filing of the licensing application; provided however, fifty percent of which shall be appraisal of non-residential properties;(6) after meeting the requirements set forth in paragraphs (4) and (5) of this subsection, stand for and successfully pass an examination approved and administered by the Board and consistent with the Uniform State Certification Examination issued or endorsed by the Appraiser Qualifications Board of the Appraisal Foundation, covering generally matters confronting certified real estate appraisers.
(1) have attained the age of 18 years;
(2) be a resident of the Virgin Islands;
(3) possess a high school degree or its equivalent;
(4) submit evidence that the applicant has successfully completed a course of study in real estate appraising prescribed by the Board that meets the standards set by the Appraiser Qualifications Board of the Appraisal Foundation that is conducted by an approved education provider;
(5) demonstrate to the satisfaction of the Board the requisite hours and months of experience in real estate appraising as established by the AQB Criteria, within the last five years immediately preceding the filing of the licensing application; provided however, fifty percent of which shall be appraisal of non-residential properties;
(6) after meeting the requirements set forth in paragraphs (4) and (5) of this subsection, stand for and successfully pass an examination approved and administered by the Board and consistent with the Uniform State Certification Examination issued or endorsed by the Appraiser Qualifications Board of the Appraisal Foundation, covering generally matters confronting certified real estate appraisers.
(e) Failure of a Licensed Real Estate Appraiser, a Certified Residential Real Estate Appraiser, or a Certified General Real Estate Appraiser to meet any of the requirements set forth in subsection (a) and subsections (b), (c), or (d), as applicable, is grounds for the denial of the applicable license.