Ch. 594 LAWS OF MARYLAND

CONTINGENT ON A PREDETERMINED ANALYSIS, OPINION, OR
CONCLUSION OR ON THE RESULTS ACHIEVED BY THE APPRAISAL

ASSIGNMENT.

(C) (1) A LICENSED REAL ESTATE APPRAISER WHO PROVIDES A
SPECIALIZED APPRAISAL SERVICE MAY BE PAID A FIXED FEE OR A FEE
THAT IS CONTINGENT ON THE RESULTS ACHIEVED BY THE SPECIALIZED
APPRAISAL SERVICE.

(2) A LICENSED REAL ESTATE APPRAISER WHO AGREES TO
PROVIDE A SPECIALIZED APPRAISAL SERVICE FOR A CONTINGENT FEE
SHALL STATE THE EXISTENCE OF THE AGREEMENT CLEARLY IN:

REPORT;

(I) AN ORAL APPRAISAL REPORT;

(II) A PROMINENT PLACE IN A WRITTEN APPRAISAL

(III) THE CERTIFICATION STATEMENT THAT
ACCOMPANIES A WRITTEN APPRAISAL REPORT; AND

(IV) A LETTER OF TRANSMITTAL.

SUBTITLE 5. CERTIFICATION
15.5-501.

(A) AFTER JUNE 30, 1991, AND EXCEPT AS OTHERWISE PROVIDED IN
THIS TITLE, AN INDIVIDUAL SHALL BE CERTIFIED BY THE COMMISSION
TO PROVIDE CERTIFIED REAL ESTATE APPRAISAL SERVICES BEFORE
THE INDIVIDUAL MAY PROVIDE CERTIFIED REAL ESTATE APPRAISAL
SERVICES IN THE STATE.

(B) NOTWITHSTANDING SUBSECTION (A) OF THIS SECTION, A
LICENSED REAL ESTATE APPRAISER WHO IS NOT CERTIFIED MAY:

(1) HELP A CERTIFIED REAL ESTATE APPRAISER TO PREPARE
A CERTIFIED APPRAISAL REPORT; AND

(2) COSIGN THE REPORT.

15.5-502.

AN INDIVIDUAL MAY BE CERTIFIED BY THE COMMISSION AS A
CERTIFIED REAL ESTATE APPRAISER FOR RESIDENTIAL REAL ESTATE
OR AS A CERTIFIED REAL ESTATE APPRAISER FOR GENERAL REAL
ESTATE.

15.5-503.

(A) TO QUALIFY FOR A CERTIFICATE FOR RESIDENTIAL REAL
ESTATE APPRAISAL, AN APPLICANT SHALL BE AN INDIVIDUAL WHO
MEETS THE REQUIREMENTS OF THIS SECTION.

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