appraisement

ap·praise   (ə-prāz')    tr.v.   ap·praised, ap·prais·ing, ap·prais·es To evaluate, especially in an official capacity. To estimate the quality, amount, size, and other features of; judge. See Synonyms at estimate. [Middle English appreisen, possibly from Old French aprisier, from Late Latin appretiāre : Latin ad-, ad- + Latin pretium, price; see per-5 in Indo-European roots.] ap·prais'ing·ly adv., ap·prais'a·ble adj., ap·praise'ment n., ap·prais'er n., ap·prais'ing·ly adv.

appraisal

A formal evaluation of property by an expert, used to establish its market value.

Main Entry: ap·prais·al
Pronunciation: &-'prA-z&l
Function: noun
: 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 usually entitled by statute to demand in a case of extraordinary corporate action (as a merger) —see also DISSENT 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