CHAPTER 458
REAL ESTATE APPRAISERS BOARD
458.01   Definitions.
458.02   Limitations and exceptions.
458.03   General duties and powers of department and board.
458.04   Advisory committee.
458.05   Rules; review of rules.
458.055   Prohibited conduct.
458.06   Certification.
458.08   Licensure.
458.085   Appraiser educational, experience and continuing education requirements; rules.
458.09   Applicability of assessor experience and continuing education.
458.095   Temporary use of titles; appraisers certified or licensed in other states.
458.10   Examination.
458.105   Certificate number.
458.11   Expiration and renewal.
458.12   Reciprocal agreements.
458.13   Continuing education requirements.
458.16   Use of certificate number and title.
458.18   Maintenance of records.
458.19   Requirements for appraisal reports.
458.20   Contingent fees.
458.21   Appraisals in federally related transactions; annual registry fee required.
458.22   Use of title restricted to individual.
458.24   Code of professional conduct.
458.26   Disciplinary proceedings and actions.
458.30   Penalties.
Ch. 458 Cross-reference Cross-reference: See definitions in s. 440.01.
Ch. 458 Cross-reference Cross-reference: See also chs. SPS 85, 86, and 87, Wis. adm. code.
458.01 458.01 Definitions. In this chapter:
458.01(1) (1) “Appraisal" means an analysis, opinion or conclusion relating to the nature, quality, value or utility of specified interests in or aspects of real estate.
458.01(2) (2) “Appraisal foundation" has the meaning given in 12 USC 3350 (9).
458.01(3) (3) “Appraisal report" means a written communication of an appraisal.
458.01(4) (4) “Appraiser" means a general appraiser or residential appraiser.
458.01(5) (5) “Board" means the real estate appraisers board.
458.01(7) (7) “Certified appraiser" means an appraiser who is certified as a general appraiser or as a residential appraiser under s. 458.06.
458.01(8) (8) “Certified general appraiser" means an individual who is certified as a general appraiser under s. 458.06.
458.01(9) (9) “Certified residential appraiser" means an individual who is certified as a residential appraiser under s. 458.06.
458.01(9m) (9m) “Commercial real estate" means real estate other than residential real estate.
458.01(10) (10) “Federally related transaction" has the meaning given in 12 USC 3350 (4).
458.01(11) (11) “General appraiser" means an individual who conducts appraisals of commercial real estate, or of both commercial real estate and residential real estate, without regard to transaction value.
458.01(11m) (11m) “Licensed appraiser" means an individual who is licensed as an appraiser under s. 458.08.
458.01(12) (12) “Real estate" means an identified parcel or tract of land and any improvements to the land.
458.01(13) (13) “Residential appraiser" means an individual who conducts appraisals of residential real estate or of commercial real estate having a transaction value of not more than $250,000.
458.01(14) (14) “Residential real estate" means real estate that, in the opinion of the appraiser who conducts an appraisal of the real estate, has the highest and best use as a residence of not more than 4 dwelling units.
458.01 History History: 1989 a. 340; 1991 a. 39, 78; 1997 a. 35.
458.01 Cross-reference Cross-reference: See definitions in s. 440.01.
458.01 Cross-reference Cross-reference: See also s. SPS 85.120, Wis. adm. code.
458.02 458.02 Limitations and exceptions. Nothing in this chapter shall be construed to prohibit a person who is not a certified appraiser or licensed appraiser from appraising real estate or from cosigning an appraisal report with a certified appraiser or licensed appraiser if the person complies with s. 458.055.
458.02 History History: 1989 a. 340; 1991 a. 39, 78.
458.03 458.03 General duties and powers of department and board.
458.03(1)(1) In addition to the other duties and powers of the department under this chapter, the department shall do all of the following:
458.03(1)(a) (a) Grant and issue certificates to appraisers.
458.03(1)(b) (b) Subject to the procedure under s. 458.05, promulgate rules establishing criteria for the approval of educational and continuing educational programs and courses of study for appraisers and establishing criteria for the approval of the courses required under ss. 458.06 (2) (d) and 458.08 (2) (d).
458.03(1)(c) (c) Submit to the board a copy of any legislation proposed by the department relating to appraisers or to the board, prior to introduction in the legislature.
458.03(1)(d) (d) Transmit the annual registry fees paid to the department under s. 458.21 to the federal financial institutions examination council or its successor agency.
458.03(1)(e) (e) Promulgate rules specifying the types of real estate that may be appraised by licensed appraisers.
458.03(1)(f) (f) Promulgate rules specifying the manner in which certified appraisers and licensed appraisers shall place their titles, as described in s. 458.055, and certificate numbers on appraisal reports and written appraisal agreements.
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2015-16 Wisconsin Statutes updated through 2017 Wis. Act 58 and all Supreme Court and Controlled Substances Board Orders effective on or before September 20, 2017. Published and certified under s. 35.18. Changes effective after September 20, 2017 are designated by NOTES. (Published 9-20-17)