Independent Contractors Appraisers Law and Legal Definition

An appraiser is a professional who makes appraisals of the value of property. to professionally evaluate the value of property including real estate, jewelry, antique furniture, securities, or in certain cases the loss of value (or cost of replacement) due to damage. This may be necessary in determining the value of the estate of someone who has died, particularly when the items must be divided among the beneficiaries, to determine the value of assets for insurance coverage, to divide partnership assets, set a sales price, determine taxes, or make insurance claims. There are licensing and ethical standards applicable to professionals in the appraisal field.