Bill Text: CA SB70 | 2017-2018 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Real estate: Uniform Standards of Professional Appraisal Practice.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2018-09-29 - Chaptered by Secretary of State. Chapter 928, Statutes of 2018. [SB70 Detail]

Download: California-2017-SB70-Amended.html

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Amended  IN  Senate  January 03, 2018

Amended  IN  Senate  March 30, 2017

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Senate Bill

No. 70

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Introduced by Senator Bates

January 09, 2017

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An act to amend Section 11319 of the Business and Professions Code, relating to real estate.

LEGISLATIVE COUNSEL'S DIGEST

SB 70, as amended, Bates. Real estate: Uniform Standards of Professional Appraisal Practice.

Existing law, the Real Estate Law, provides for the licensure, certification, and regulation of persons who engage in specified real estate appraisal activity by the Chief of the Bureau of Real Estate Appraisers. That law makes the Uniform Standards of Professional Appraisal Practice the minimum standard of conduct and performance for a licensee in any work or service performed that is addressed by those standards.

This bill would instead provide, except as specified, provide that a licensee, with the consent of the client obtained in advance, licensee is not required to comply with certain provisions of the Uniform Standards of Professional Appraisal Practice, including, among others, disclosure of prior services performed by the licensee on the property subject to an appraisal report. Practice that provide a limitation on restricted appraisal reports to intended users other than or in addition to the client, if certain requirements are met, including that the consent of the client is obtained in advance.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 11319 of the Business and Professions Code is amended to read:

11319.

 (a) Notwithstanding any other provision of this code, except as provided in subdivision (b), the Uniform Standards of Professional Appraisal Practice constitute the minimum standard of conduct and performance for a licensee in any work or service performed that is addressed by those standards. If a licensee also is certified by the Board of Equalization, he or she shall follow the standards established by the Board of Equalization when fulfilling his or her responsibilities for assessment purposes.

(b)Notwithstanding subdivision (a) and except as provided in subdivision (c), with the consent of the client obtained in advance a licensee shall not be required to comply with the following provisions of the Uniform Standards of Professional Appraisal Practice:

(1)The limitation on restricted appraisal reports to intended users other than the client.

(2)Disclosure of prior services performed by the licensee on the property subject to the report.

(3)Reporting of prior three-year sales activity relating to the property subject to the report.

(4)Reporting of sale, options, or listings of the property subject to the report, as of the effective date of the appraisal or during the prior three years.

(5)Obligations relating to the oral communication of an estimate of the probable selling price of a property that is not part of an appraisal assignment, as defined in the Uniform Standards of Professional Appraisal Practice effective January 1, 2016.

(6)Maintenance of copies of written appraisal reports unless the appraisal report contains a certification signed by the licensee.

(c)Subdivision (b) shall not apply to a report prepared by a licensee in connection with any of the following:

(1)A federally-related real estate transaction.

(2)The purchase or refinance of a residential dwelling of one to four units.

(3)A transaction subject to Section 10232.5.

(b) Notwithstanding subdivision (a), a licensee shall not be required to comply with provisions of the Uniform Standards of Professional Appraisal Practice that provide a limitation on restricted appraisal reports to intended users other than or in addition to the client if both of the following are met:

(1) The licensee obtains the consent of the client in advance.

(2) The report the licensee prepares is not related to any of the following:

(A) A federally related real estate transaction.

(B) The purchase or refinance of a residential dwelling of one to four units.

(C) A transaction subject to Section 10232.5.