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Page 1 - 132LR1399(05)
STATE OF MAINE
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IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
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H.P. 998 - L.D. 1514
An Act to Change the Laws Regarding Real Estate Appraisers
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 32 MRSA §14011, sub-§2, as amended by PL 2007, c. 402, Pt. GG, §3, is
further amended to read:
2. Members. The board consists of 7 9 members appointed by the Governor. Each
member must be a resident of this State. The board consists of:
A. Two public members as defined in Title 5, section 12004‑A; and
B. Five members who hold valid appraiser licenses, including at least one member
who holds a certified general license. and one member who holds a certified residential
real property appraiser license;
C. One member who is actively engaged in the business of real estate brokerage as
defined in section 13001, subsection 2; and
D. One member who is actively engaged in the business of banking, including lending
for the purpose of buying real property, or who is actively engaged in the mortgaging
of real property as governed by Title 33, chapter 9.
Sec. 2. 32 MRSA §14037, sub-§1, as enacted by PL 2005, c. 518, §8, is amended
to read:
1. Scope of license. For federally related transactions, a residential real property
appraiser license entitles the holder to appraise noncomplex residential property of one to
4 units having a transaction value of less than $1,000,000 and complex residential property
of one to 4 units having a transaction value of less than $250,000 as specified in the criteria
adopted and published by the appraiser qualifications board in effect at the time of the
transaction. For purposes of this section, "complex residential property of one to 4 units"
means property that is atypical based on the nature of the property, the form of ownership
or the market conditions. For nonfederally related transaction appraisals, "transaction
value" means market value. A residential real property appraiser license entitles the holder
to appraise vacant or unimproved land that is used for one to 4 family purposes or for which
the highest and best use is for one to 4 family purposes. A residential real property
APPROVED
JUNE 18, 2025
BY GOVERNOR
CHAPTER
359
PUBLIC LAW
Page 2 - 132LR1399(05)
appraiser license does not entitle the holder to appraise subdivisions for which a
development analysis and appraisal is necessary.
Sec. 3. Transition. Notwithstanding the Maine Revised Statutes, Title 32, section
14011, subsection 2, a member of the Department of Professional and Financial Regulation,
Board of Real Estate Appraisers serving on the effective date of this Act continues to serve
until the expiration of that member's term.