Appraisal - Law Dictionary Search Results
Home Dictionary Name: appraisal Page: 2closing 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 ...
alternate valuation
alternate valuation : the appraisal of a deceased person's gross estate at the fair market value six months after the person's death ...
Mahr (dower)
Mahr (dower), Mahr (dower) is neither dowry nor price for marriage: As explained in an old judgment by Justice Syed Mahmood, maher is 'not the exchange or consideration given by the man to the woman, but an effect of the contract imposed by law on the husband as a token of respect for its subject: the Woman'. Giving a correct appraisal of the concept of maher, the Privy Council once described it as 'an essential incident to the status of marriage'. On another occasion it explained that maher was a 'legal responsibility' of the husband. These judicial observations evidence a correct understanding of the Islamic legal concept of maher. Its substitute, a valid retirement, or by death, which by terminating the marriage, puts an end to all the contingencies to which it is exposed; and on the other hand the woman becomes entitled to it as soon as she has surrendered her person. Justice Mahmood has described the nature of mahr in Abdul Kadir Salima. According to him: Dower (mahr), under the M...
According to law
According to law, the High Court under the revisional jurisdiction is obliged to test the order of the Rent Controller on the touchstone of 'whether it is according to law' and for that limited purpose may enter into re-appraisal of evidence for the purpose of ascertaining whether the conclusion arrived at by the Rent Controller is wholly unreasonable or is one that no reasonable person acting with objectivity could have reached on the material available. Chandrika Prasad v. Umesh Kumar Verma, (2002) 1 SCC 531 (534): AIR 2002 SC 108.According to law, judgment leading to a miscarriage of justice is not a judgment according to law, Shiv Sarup Gupta v. Dr. Mahesh Chand Gupta, (1999) 6 SCC 222....
appraise
appraise ap·praised ap·prais·ing : to estimate the value of : make an appraisal of ap·prais·er n ...
bioassay
appraisal of the biological activity of a substance by testing its effect on an organism...
valuation
valuation 1 : the act or process of valuing [actuarial of the assets and liabilities of a state pension fund] ;specif : appraisal of property [ of marital property is a factual finding that will not be upset unless clearly erroneous "Jensen v. Jensen, 458 N.W.2d 391 (1990)"] 2 : the estimated or determined value (as market value) of a thing [the total assessed of property in the district] ...
origination
origination the process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property appraisal. Source: U.S. Department of Housing and Urban Development ...
opinion
opinion 1 a : a belief stronger than impression and less strong than positive knowledge b : a formal expression of a judgment or appraisal by an expert see also opinion testimony at testimony compare fact 2 a : advice or evaluation regarding the legal issues involved in a situation given by an attorney to a client [an of title] called also legal opinion see also opinion letter at letter b : an advisory opinion issued by an authorized public official (as an attorney general) or a recognized body (as the American Bar Association) 3 a : the formal written expression by a court or judge of the reasons and principles of law upon which the decision in a case is based compare holding, judgment, ruling advisory opinion : a nonbinding opinion or evaluation of a court or other judicial or quasi-judicial authority or body regarding the effect of the law on a situation that does not present an actual controversy between parties [to answer questions which were not brought before this Court...
obsolescence
obsolescence : a loss in the utility or value of property that results over time from intrinsic limitations (as outmoded facilities) or external circumstances NOTE: Obsolescence is usually distinguished from depreciation and physical deterioration. eco·nom·ic obsolescence : obsolescence that results from external factors (as location) that render a property obsolete, no longer competitive, unattractive to purchasers or investors, or of decreasing usefulness [claimed that the appraisal failed to account for economic obsolescence resulting from an adjacent waste facility] func·tion·al obsolescence [fək-shə-nəl-] : obsolescence deriving from a lack of adequate or appropriate equipment, space, or design ...
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