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Term Definition Purpose of Appraisal - the stated scope of an appraisal assignment, e.g., a divorce settlment.
Application in Divorce Very often in a property settlement, a divorcing couple must have a business appraised. From this, a fair market or appraisal gives the starting point for negotiations.

Depending upon the circumstances of the appraisal, the appraised value of a closely held business may fluctuate.