Bill > HB872

This bill revises Montana's licensing laws related to real estate appraisers by adding several new definitions and clarifying regulations around property valuation. The bill introduces new terms like "evaluation," which means an estimate of real property market value provided to a financial institution that does not require a full appraisal by a licensed professional, and defines federal financial institutions and real estate-related financial transactions. The legislation modifies existing law to allow licensed or certified real estate appraisers to provide evaluations under specific conditions, such as including a disclaimer that the document is not a full appraisal and not representing themselves as licensed appraisers during the evaluation process. The bill also clarifies that individuals who are not licensed appraisers can provide property value opinions as long as they do not claim to be licensed appraisers. Additionally, the bill includes a $1,000 appropriation to the Department of Labor and Industry to implement these changes and sets an effective date of July 1, 2025. The primary goals appear to be providing more flexibility in property valuation while maintaining professional standards and protecting consumers from misrepresentation.

Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC2436