P.R. Laws tit. 20, § 2308
The Board shall issue a license to practice the profession of professional real estate appraiser to any person who meets the following qualifications:
(a) Have a bachelor’s degree from an institution accredited by the Council on Higher Education or from an institution recognized by the Board of Examiners of Professional Real Estate Appraisers within which at least five courses (15 credit hours) were approved in subjects related to real estate appraisal. Furthermore, he/she shall have approved the number of class hours with an exam required by the Appraiser Qualifications Board for the federal certification and the fifteen (15) hours of the Uniform Standards of Professional Appraisal Practice (USPAP) offered by an institution recognized by the Board. The Board shall determine through regulations the subjects it deems to be related to real estate appraisal.
(b) Have a bachelor’s degree from an institution accredited by the Council on Higher Education and have approved at least five courses (15 credit hours) on subjects related to real estate appraisal. Furthermore, he/she shall have approved the number of class hours with an exam required by the Appraiser Qualifications Board for the federal certification and the fifteen (15) hours of the Uniform Standards of professional Appraisal Practice (USPAP) offered by an institution recognized by the Board. The Board shall determine through regulations the subjects it deems to be related to real estate appraisal.
(c) Such person shall have a Bachelor’s degree from an institution accredited by the Council on Higher Education, and has passed a course on real estate appraisal offered by a university or college duly accredited by the Council on Higher Education or an institution accredited by the Board of Examiners of Professional Real Estate Appraisers. Among the courses approved, there shall be required at least four courses (12 credits) on subjects related with real estate appraisals.
(d) Such person has passed the examination or examinations offered by the Board.
(e) Such person has paid the examination and license fees provided in this chapter.
(f) Such person has observed a good moral conduct.
The professional real estate appraisers who hold a license but not a certification may appraise any type of property in which there is no federal interest. In the case of properties with federal interest, he/she shall meet the qualifications in effect regarding exams, experience and education of the Appraiser Qualifications Board.
History —July 31, 1974, No. 277, Part 2, p. 326, § 8; Aug. 14, 1991, No. 62, § 5; Dec. 26, 1997, No. 194, § 5.