Appraisal

{
  "id": "MLC-T-LAW-000542",
  "term": "Appraisal",
  "field": "Law",
  "definition": "A professional assessment of the monetary value of property, such as real estate, personal belongings, or a business. This valuation is conducted by a qualified appraiser who considers market conditions, physical characteristics, and comparable sales. Appraisals are commonly used for loan applications, insurance purposes, and estate planning.",
  "url": "https://mlchart.com/terminology/law/appraisal/"
}