Appraisement (Lat. appretiare, to set a price upon), a valuation of property by persons authorized to make it by the law or by stipulation between the parties. The three principal kinds of appraisement known to American law are: of the inventoried property of decedents and insolvents; of property taken for public use; and of real estate seized upon execution. In some states the creditor may enforce a sale of his debtor's lands without a previous appraisement; in others an appraisement is a necessary prerequisite. In some states land once sold on execution is irredeemable by the debtor; in others he has a right to redeem it within a reasonable period, six months or a year, at the appraised value, with interest. There are states where the creditor has no right to sell upon execution, but may take the property of his debtor in payment so far as it goes, at two thirds of the appraised value; in case of refusal the levy is discharged, and the creditor must pay costs.