Bill > HB1354

This bill updates North Dakota's real estate appraisal regulations by modifying definitions, expanding exemptions, and clarifying standards for evaluations. Specifically, the bill adds a comprehensive definition of "agency" to include various federal and state financial regulators, introduces a new definition for "evaluation" as a value estimate for real estate-related financial transactions where a full appraisal is not legally required, and creates an exemption allowing non-certified individuals to prepare evaluations. The bill also expands existing permit exemptions to include people providing value opinions in their ordinary course of business, such as real estate brokers and employees of the Bank of North Dakota. Additionally, the bill allows licensed, certified, and apprentice appraisers to provide evaluations if they comply with federal and state laws, regulatory guidelines, and conspicuously identify the document as an evaluation rather than a formal appraisal. These changes aim to provide more flexibility in real estate valuation while maintaining professional standards and protecting consumers by ensuring clear documentation of the type of valuation being performed.

Business and Industry

https://ndlegis.gov/assembly/69-2025/regular/bill-overview/bo1354.html