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A person selected or appointed by a competent authority or an interested party to evaluate the financial worth of property.

Appraisers are frequently appointed in probate and condemnation proceedings and are also used by banks and real estate concerns to determine the market value of real property.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. a professional who makes appraisals of the value of property. Some specialize in real property, and others in other types of assets from rugs to rings. A careful, well-trained and practical appraiser may be more important than any other professional in a transaction, since one who grossly undervalues or overvalues property (or has no knowledge of true value) can wreak havoc. Where possible, a person should ask for a profile of other clients and training, and ask whether the appraiser is "MAI" (Member, Appraisal Institute). (See: appraise)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

APPRAISER, practice. A person appointed by competent authority to appraise or value goods; as in case of the death of a person, an appraisement and inventory must be made of the goods of which he died possessed, or was entitled to. Appraisers are sometimes appointed to assess the damage done to property, by some public work, or to estimate its value when taken for public use.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Since the Magnet Recognition Program appraisal process is one of peer review, with the Chief Nursing Officer (CNO) playing the key role in achievement of Magnet Status, Appraiser Teams will be led by current and former Chief Nursing Officers who are trained appraisers.
170(f)(11) (E)(i) provides that a "qualified appraisal" means an appraisal (1) treated as a qualified appraisal under regulations or other IRS guidance; and (2) conducted by a qualified appraiser in accordance with generally accepted appraisal standards and any IRS regulations or other guidance.
If the appraiser were valuing 100% of the facility, a control premium would have to be applied.
American Society of Appraisers: accredited member (AM), accredited senior appraiser (ASA).
If measurement positions in these matters are to be successfully argued by the appraiser (and there will be arguments), the appraiser must be sufficiently familiar with these contracts to advance the appropriate positions.
COUNTRY Insurance & Financial Services[SM] began using notebook computers as a productivity tool for its appraisers in 1998.
The appraiser drives out to inspect the vehicle, which could be at the customer's home, office, body shop or elsewhere.
Stewart Heller, a California appraiser who wrote a widely circulated critique of lender-influenced valuations for the Foundation of Real Estate Appraisers, says the problem could become especially acute in the fastest-appreciating, higher-cost markets.
Since fair value is subject to interpretation and is typically encountered in litigation matters, the appraiser may receive contradictory explanations of its meaning.
With adequate training, a property manager may be able to conduct the feasibility analysis or the owner and manager may prefer to hire an appraiser to conduct a formal analysis.
If one appraiser values on the basis of continued use, and a second assumes liquidation, of course the answers will differ.
Title XI contemplates that the states will establish appraiser certification and licensing agencies, as well as set minimum requirements for individuals who are qualified to perform appraisals in connection with federally related transactions.