Appraiser licensing in California is controlled by what entity?
Correct Answer
B) The California Bureau of Real Estate Appraisers (CalBREA).
The California Bureau of Real Estate Appraisers (BREA), operating under the Department of Consumer Affairs, is the state agency exclusively responsible for licensing, certifying, and regulating real estate appraisers in California, as mandated by federal FIRREA requirements and California Business and Professions Code Sections 11300 et seq. BREA issues four credential levels — Trainee, Licensed Residential, Certified Residential, and Certified General — and enforces compliance with the Uniform Standards of Professional Appraisal Practice (USPAP). Note that while the answer explanation references 'BREA,' the correct answer letter in this question is marked as 'C,' which corresponds to the option labeled 'The Department of Business Oversight (DBO)' — however, the factually and legally correct regulatory body is BREA (Option B), and exam content should reflect that BREA is the accurate answer.
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Related Topics & Key Terms
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Related Concepts
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
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An owner sold a parcel of real estate to a buyer with the stipulation that the buyer was not allowed to sell alcohol from the prem- ises. The buyer sold the property 10 years later to a buyer who converted the build- ing into a convenience store that sold beer. Should the owner or owner’s heirs claim a right of re-entry, what would be the basis for the lawsuit?
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Maria and David, a married couple in California, purchase a home together. The deed does not specify any form of ownership. Under California law, how is the property presumed to be held?