Appraisement. An appraisement signifies generally any valuation of property; but in England the term is also used technically to denote a valuation by two sworn appraisers under a distress for rent. Where the value of the appraisement does not exceed £5, a stamp of threepence is required, and if over £500, the duty is £1; between these amounts ad valorem stamp-duties from sixpence to fifteen shillings are exigible. Appraisements are exempted from duty if they are made (1) For the information of one party only; (2) In pursuance of the order of any Admiralty Court, or Court of Appeal therefrom; (3) For the purpose of ascertaining legacy, succession, or inventory duties; (4) With reference to the property of a bankrupt; (5) For Income-tax purposes.
An appraiser is a person licensed to make appraisements or valuations. The cost of the annual license is £2, but licensed auctioneers and attorneys require no special license. The appraiser is bound to write out the appraisement on duly stamped paper under a penalty of £50, and any person receiving or paying for an unstamped appraisement is liable to forfeit £20.