Legal Definition and Related Resources of Appraisal
Meaning of Appraisal
Valuation or estimation of value of property by any impartial , disinterested person of suitable qualifications. See U.S. v Crowley, 522 F.2d 427.
Synonyms of Appraisal
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
Related Entries of Appraisal in the Encyclopedia of Law Project
Browse or run a search for Appraisal in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.
Appraisal in Historical Law
You might be interested in the historical meaning of this term. Browse or search for Appraisal in Historical Law in the Encyclopedia of Law.
Legal Abbreviations and Acronyms
Search for legal acronyms and/or abbreviations containing Appraisal in the Legal Abbreviations and Acronyms Dictionary.
Related Legal Terms
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Translate Appraisal from English to Spanish
Translation of Appraisal, with examples. More about free online translation into Spanish of Avalúo and other legal terms is available here.
- Avalúo
- Legal English Translation
What does Appraisal mean in American Law?
The definition of Appraisal in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:
Any process for determining the “value” of something (other than by trading it in a market). Appraisal is an important process whenever, for one reason or another, things must be valued but cannot, at least not then, be sold, e.g., when an estate must be valued for estate tax purposes, or land valued in an eminent domain proceeding, or property with only a defective market, (e.g., shares in a close corporation), is to be transferred. As one can imagine, a large variety of techniques can be and are used in order to come up with some reasonably acceptable value, e.g., actual sales prices of comparable properties, estimations of replacement cost, capitalizations of income, depreciated values, etc. But all methods have their problems, both conceptual and practical, and the process of appraisal can lead to strife and litigation. There are, however, professional appraisers and, as noted, when the things in question cannot be sold in a fair market, some alternative valuation technique must be used.
Concept of Appraisal in the context of Real Property
A short definition of Appraisal: An opinion of value based upon a factual analysis. Legally, an estimation of value by two disinterested persons of suitable qualifications.
Concept of Appraisal in the context of Real Property
A short definition of Appraisal: An opinion of value based upon a factual analysis. Legally, an estimation of value by two disinterested persons of suitable qualifications.
Resources
Legal English Vocabulary: Appraisal in Spanish
Online translation of the English legal term appraisal into Spanish: Evaluación (English to Spanish translation) . More about legal dictionary from english to spanish online.
Related to the Legal Thesaurus
Resources
Legal English Vocabulary: Educational Level and Appraisal in Spanish
Online translation of the English legal term educational level and appraisal into Spanish: NIVEL DE EDUCACION Y EVALUACION (English to Spanish translation) . More about legal dictionary from english to spanish online.
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