Property Appraisal
/ˈprɑːpɚti əˌpreɪzəl/
Definitions
- (n.) The process of determining the value of real estate or personal property for legal purposes such as sale, taxation, or litigation.
The court ordered a property appraisal to establish the fair market value before division of assets.
Forms
- property appraisals
Related terms
See also
Commentary
Property appraisals are critical in legal contexts involving disputes, estate settlements, and taxation, requiring adherence to standardized methods to ensure admissibility and reliability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.