An Act updating real estate appraiser record retention requirements
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill updates the requirements for how long real estate appraisers in Massachusetts must keep records of their work. Currently, the retention period isn't clearly defined, and this bill aims to establish a more specific and consistent timeframe for maintaining these records. The goal is to improve transparency and accountability in the appraisal process. This legislation seeks to standardize record retention practices for real estate appraisers within the state.
Key provisions
- Establishes a minimum record retention period for real estate appraisers.
- Requires appraisers to maintain records of appraisals performed.
- Specifies the types of records that must be retained.
- Outlines penalties for non-compliance with record retention requirements.
- Addresses the retention of digital records.
Who is affected
- Real estate appraisers
- Homeowners
- Real estate professionals
- The real estate industry
- Massachusetts residents
Notable changes
- Clarifies and standardizes record retention rules for appraisers.
- Likely increases the length of time appraisal records are kept.
- May impact how appraisers manage and store their documentation.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Daniel J. Hunt
Cosponsors
Daniel J. Hunt
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