REPORT TITLE:
Personal Property Appraisals


DESCRIPTION:
Requires that appraisers of the personal property of a decedent
be certified or accredited by either the International Society of
Appraisers or the American Society of Appraisers.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                                        2135 
HOUSE OF REPRESENTATIVES                H.B. NO.           
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                   A  BILL  FOR  AN  ACT

RELATING TO PERSONAL PROPERTY APPRAISALS.



BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 1      SECTION 1.  Section 560:3-707, Hawaii Revised Statutes, is
 
 2 amended to read as follows:
 
 3      "560:3-707  Employment of appraisers.  The personal
 
 4 representative may employ a qualified and disinterested
 
 5 appraiser, who shall be accredited or certified by either the
 
 6 International Society of Appraisers or the American Society of
 
 7 Appraisers, to assist in ascertaining the fair market value as of
 
 8 the date of the decedent's death of any asset the value of which
 
 9 may be subject to reasonable doubt.  Different persons may be
 
10 employed to appraise different kinds of assets included in the
 
11 estate[.]; provided the appraiser is accredited or certified by
 
12 either the International Society of Appraisers or the American
 
13 Society of Appraisers.  The [names] name and [addresses] address
 
14 of any appraiser, and a statement of the appraiser's
 
15 accreditation or certification status with either the
 
16 International Society of Appraisers or the American Society of
 
17 Appraisers shall be indicated on the inventory with the item or
 
18 items appraised."
 
19      SECTION 2.  Statutory material to be repealed is bracketed.
 
20 New statutory material is underscored.
 

 
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 1      SECTION 3.  This Act shall take effect upon its approval.
 
 2 
 
 3                       INTRODUCED BY:  ___________________________