appraisal

appraisal
ap·prais·al /ə-'prā-zəl/ n: a valuation of property by the estimate of an authorized person: as
a: the determination of the fair value of a corporation's stock by a judicial proceeding that a dissenting shareholder is usu. entitled by statute to demand in a case of extraordinary corporate action (as a merger) see also dissent 1 1
b: the estimation of the value of real estate for the purpose of taxation, sale, or securing a mortgage
c: the estimation of the value of damage done to property for the purpose of adjusting an insurance claim

Merriam-Webster’s Dictionary of Law. . 1996.

appraisal
I noun appraisement, assessment, calculation, computation, determination, estimate, estimated value, estimation, evaluation, examination, fixing a price, measurement, quantification, reckoning, setting a price, setting the value, survey, valuation associated concepts: appraisal at actual value, appraisal at estimated value, appraisal at market value, appraisal value II index account (evaluation), appreciation (perception), arbitration, assessment (estimation), choice (decision), computation, concept, cost (price), determination, discretion (power of choice), discrimination (differentiation), estimate (approximate cost), estimation (calculation), expense (cost), generalization, idea, inspection, judgment (discernment), measurement, par (face amount), perception, price, proposal (report), rating, review (critical evaluation), value, worth

Burton's Legal Thesaurus. . 2006


appraisal
A determination of the value of something, such as a house, jewelry, or stock. A professional appraiser — a qualified, disinterested expert — makes an estimate by examining the property, and looking at the initial purchase price and comparing it with recent sales of similar property or items. Courts commonly order appraisals in probate, bankruptcy, or foreclosure proceedings in order to determine the fair market value of property. Banks and real estate companies use appraisals to ascertain the worth of real estate for lending purposes. And insurance companies require appraisals to determine the amount of damage done to covered property before settling insurance claims.
Category: Personal Finance & Retirement
Category: Real Estate & Rental Property → Buying a House
Category: Real Estate & Rental Property → Selling a House

Nolo’s Plain-English Law Dictionary. . 2009.


appraisal
A valuation or an approximation of value by impartial, properly qualified persons; the process of determining the value of an asset or liability, which entails expert opinion rather than express commercial transactions.

Dictionary from West's Encyclopedia of American Law. 2005.


appraisal
A valuation or an approximation of value by impartial, properly qualified persons; the process of determining the value of an asset or liability, which entails expert opinion rather than express commercial transactions.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.


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