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7 Cards in this Set

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Known as valuer, refers to a person who conducts valuation/appraisal and specifically, one who possesses the necessary qualifications, license, ability, and experience to execute or direct the valuation/appraisal of real property.
APPRAISER
ASSESSOR
An official in the local government unit, who performs appraisal and assessment of real properties, including plants, equipment, and machineries, essentially for taxation purposes. This definition also includes assistant assessor.
REAL ESTATE
The land and all those items attached to the land. It is the physical, tangible entity, together with all the additions or improvements on, above or below the ground.
REAL ESTATE DEVELOPMENT PROJECT
The development of land for residential, commercial, industrial, agricultural, institutional or recreational purposes, or any combination of such including, but not limited to, tourist resorts, reclamation projects, building or housing projects, whether for individual or condiminium ownership, memorial parks and others of similar nature.
REAL ESTATE DEVELOPER
Any natural or juridical person engaged in the business of developing real estate development project for his/her or its own account and offering them for sale.
REAL PROPERTY
includes all rights, interests and benefits related to the ownership of real estate.
REAL ESTATE SERVICE PRACTITIONERS
Real Estate Consultant, Real Estate Appraiser, Real Estate Assessor, Real Estate Broker, Real Estate Salesperson, (AIPO) Accredited and Integrated Professional Organization, and (IAPO) Interim Accredited Professional Organization.