Appraisal Fee - Law Dictionary Search Results
Home Dictionary Name: appraisal feeappraisal fee
appraisal fee fee charged by an appraiser to estimate the market value of a property. Source: U.S. Department of Housing and Urban Development ...
closing costs
closing costs fees for final property transfer not included in the price of the property. Typical closing costs include charges for the mortgage loan such as origination fees, discount points, appraisal fee, survey, title insurance, legal fees, real estate professional fees, prepayment of taxes and insurance, and real estate transfer taxes. A common estimate of a Buyer's closing costs is 2 to 4 percent of the purchase price of the home. A common estimate for Seller's closing costs is 3 to 9 percent. Source: U.S. Department of Housing and Urban Development ...
Self appraisal
Self appraisal, the method of performance appraisal is based on the self-appraisal by the officer concerned. It is a method where the employee is asked to give, in his own words, his strong points, weak points and constraints faced by him in the service. The self-appraisal is then considered by the reporting officer who gives his remarks. Finally the higher reviewing authority decides the assessment by weighting both the employee's self-appraisal and the remarks given by the reporting officer, A.P. State Financial Corpn. v. C.M. Ashok Raju, AIR 1995 SC 39 (41): (1994) 5 SCC 359....
Appraisement
Appraisement [fr. apprecier prix, Fr., pretium, Lat.], the act of valuing property, goods, furniture, etc. As to appraisement, if required by tenant or by owner of the goods, before selling under a distress for rent, see DISTRESS. Appraisement of a ship is sometimes ordered by the Admiralty Division of the High Court, see R.S.C. Ord. LI., Part III., and also generally before sale of any property by order of the Court....
appraise
appraise ap·praised ap·prais·ing : to estimate the value of : make an appraisal of ap·prais·er n ...
appraiser
appraiser a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate. Source: U.S. Department of Housing and Urban Development ...
Appraiser
Appraiser [fr. appreciateurs, Fr.], persons employed to value goods, repairs, labour, etc. by 46 Geo. 3, c. 43, and 8 & 9 Vict. c. 76, they are required to take out an annual license. According to an old statute, 11 Edw. 1, stat. Acton Burnel, appraisers valuing goods too highly were compelled to take them at their own valuation...
fee
fee [Middle English, fief, from Old French fé fief, ultimately from a Germanic word akin to Old High German fehu cattle] 1 : an inheritable freehold estate in real property ;esp : fee simple compare leasehold life estate at estate absolute fee : a fee granted with no restrictions or limitations on alienability : fee simple absolute at fee simple conditional fee : a fee that is subject to a condition: as a : fee simple conditional at fee simple b : fee simple on condition subsequent at fee simple defeasible fee : a fee that is subject to terminating or being terminated determinable fee : a defeasible fee that terminates automatically upon the occurrence of a specified event : fee simple determinable at fee simple fee patent : a fee simple absolute that is granted by a patent from the U.S. government ;also : a patent that grants a fee simple absolute [the land shall have the same status as though such fee patent had never been issued "U.S. Code"] NOTE: Allotm...
fee simple
fee simple pl: fees simple [simple without limitation (as to heirs) and unrestricted (as to transfer of ownership)] : a fee that is alienable (as by deed, will, or intestacy) and of potentially indefinite duration ;esp : fee simple absolute in this entry fee simple absolute : a fee that is freely inheritable and alienable without any limitations or restrictions on transfers and that is of indefinite duration NOTE: A fee simple absolute is conveyed by language granting the estate “to the grantee and his or her heirs,” “to the grantee, his heirs and assigns,” or “to the grantee.” The term heirs is considered in this context a word of limitation, and so this does not create a future interest in the estate in the heirs but simply makes the estate freely alienable. fee simple conditional : a fee granted to an individual and to that individual's descendants which is subject to a reversion or remainder if the grantee has no lineal descendants but wh...
Fee
Fee [fr. feoh, Sax.; fee, Dan., cattle; feudum, Med. Lat.; feu, Scot.], property peculiar; reward or recom-pense for services. See FEES. Also an estate of inheritance divided into there species: (1) fee-simple absolute; (2) qualified or conditional or base fee, including (3) fee-tail, formerly fee-conditional. By the (English) Law of Properties Act, 1925, s. 1, a fee-simple absolute in possession and a term of years absolute are the only estates in land capable of being conveyed or created at law. All other estates in land take effect as equitable interests [ibid., s. 1 (4)]. See FEE-SIMPLE.A charge for labour or services esp. professional services; Black's Law Dictionary, 7th Edn., p. 629.A 'fee' is generally defined to be a charge for a special service rendered to individuals by some governmental agency. The distinction between a tax and a fee lies primarily in the fact that a tax is levied as a part of a common burden, while a fee is a payment for a special benefit or privilege, Com...
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