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LSDefine

Simple English definitions for legal terms

appraisal

Read a random definition: actus proximus

A quick definition of appraisal:

An appraisal is when someone who knows a lot about something looks at it and figures out how much it's worth. This is important when people want to buy or sell a house or other property, or when they need to get insurance for something valuable. The person doing the appraisal, called an appraiser, looks at the thing and also looks at other information, like how much similar things have sold for in the past.

A more thorough explanation:

An appraisal is a process that determines the value of an item or property. It is necessary in various situations, such as buying or selling a home, refinancing, or making an insurance claim. An expert called an appraiser inspects the object and considers relevant data to determine its value.

  • When buying a house, the lender will require an appraisal to ensure that the property is worth the amount of the loan.
  • If a homeowner wants to refinance their mortgage, an appraisal will be necessary to determine the current value of the property.
  • If a person wants to insure their valuable artwork, an appraisal will be required to determine its worth and set the insurance coverage.

These examples illustrate how appraisals are necessary in various situations to determine the value of an item or property. Without an appraisal, it would be difficult to determine a fair price for buying or selling, or to set appropriate insurance coverage.

appointive assets | appraise

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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