SECTION 1. Section 173 of Chapter 112 of the General Laws is hereby amended by adding the following definitions:-
“Client”, the party or parties who engage, by employment or contract, an appraiser in a specific appraisal assignment.
“Intended Use”, the use or uses of an appraiser’s reported appraisal or appraisal review assignment opinions and conclusions, as identified by the appraiser based on communication with the client at the time of the assignment.
“Intended User”, the client and any other party as identified, by name or type, as users of the appraisal or appraisal review report by the appraiser on the basis of communication with the client at the time of the assignment.
SECTION 2. Chapter 112 of the General Laws is hereby amended by adding new Section 189A as follows:
Section 189A. An appraisal report or appraisal review report, including any data, work papers, opinion of market value, certification, and statement is deemed prepared at the request of and exclusively for the benefit of the appraiser’s client or intended user, and for the intended use, as specified in the appraisal report or appraisal review report. An appraiser shall (i) not be liable in a court of law to any person other than the client or intended user; and (ii) not be subject to disciplinary action stemming from a complaint filed with the Division of Professional Licensure by any person other than the client or intended user.
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