The 2023 Florida Statutes (including Special Session C)

Title XXXII
REGULATION OF PROFESSIONS AND OCCUPATIONS

Chapter 475
REAL ESTATE BROKERS, SALES ASSOCIATES, SCHOOLS, AND APPRAISERS

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F.S. 475.629

475.629 Retention of records.—An appraiser registered, licensed, or certified under this part shall prepare and retain a work file for each appraisal, appraisal review, or appraisal consulting assignment. An appraisal management company registered under this part shall prepare and retain an order file for each appraisal, appraisal review, or appraisal consulting assignment. The work file and the order file shall be retained for 5 years or the period specified in the Uniform Standards of Professional Appraisal Practice, whichever is greater. The work file must contain original or true copies of any contracts engaging the appraiser’s or appraisal management company’s services, appraisal reports, and supporting data assembled and formulated by the appraiser or company in preparing appraisal reports or engaging in appraisal management services and all other data, information, and documentation required by the standards for the development or communication of a real estate appraisal as approved and adopted by the Appraisal Standards Board of The Appraisal Foundation, as established by rule of the board. The order file must contain original or true copies of any contracts engaging the appraiser’s services, the appraisal reports, any engagement materials or instructions from the client, and all other documents required by the standards for the development or communication of a real estate appraisal as approved and adopted by the Appraisal Standards Board of The Appraisal Foundation, as established by rule of the board. Notwithstanding the foregoing, while general contracts and materials pertaining to impaneling of an appraiser by an appraisal management company shall be retained under this section, such contracts and materials are not required to be maintained within the order file. Except as otherwise specified in the Uniform Standards of Professional Appraisal Practice, the period for retention of the records applicable to each engagement of the services of the appraiser or appraisal management company runs from the date of the submission of the appraisal report to the client. Appraisal management companies shall also retain the company accounts, correspondence, memoranda, papers, books, and other records in accordance with administrative rules adopted by the board. These records must be made available by the appraiser or appraisal management company for inspection and copying by the department upon reasonable notice to the appraiser or company. If an appraisal has been the subject of or has served as evidence for litigation, reports and records must be retained for at least 2 years after the trial or the period specified in the Uniform Standards of Professional Appraisal Practice, whichever is greater.

History.—ss. 9, 11, ch. 91-89; s. 4, ch. 91-429; s. 36, ch. 98-250; s. 9, ch. 2010-84; s. 7, ch. 2015-54; s. 10, ch. 2017-30.

F.S. 475.629 on Google Scholar

F.S. 475.629 on Casetext

Amendments to 475.629

Arrestable Offenses / Crimes under Fla. Stat. 475.629

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 475.629.

Annotations, Discussions, Cases:

Cases from cite.case.law:

GREEN v. FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION,, 49 So. 3d 315 (Fla. Dist. Ct. App. 2010)

. . . failure to retain appraisal reports and supporting data for at least five years in violation of section 475.629 . . . Count II of the administrative complaint charged Appellants with violating section 475.629, Florida Statutes . . . The Board’s interpretation of section 475.629 is clearly erroneous. . . . violation of the USPAP Ethics Recordkeep-ing Rule, it does not also constitute a violation of section 475.629 . . . work files for the requisite period, the Board erred in finding Appellants guilty of violating section 475.629 . . .