Auction Terminology

Authentication – The real deal!  What the item actually is and not what it is believed to be.

Appraisal – an estimate or opinion of value based upon relevant and factual data, as of a given date,and is usually in writing.

Order of sale – a matter of a division of the property in a sequential order in which the property will be sold.

Estate – this is a term that refers to everything you owe and own - Personal and real property that you possess.

Testate – a person that dies with a will; if valid, it is admitted to probate for administration.

Probate – Court directs process of administration of the will.

Intestate – when a person dies without a will and leaves no heirs. Disposition of estate is made according to statutes of decent.


                     

 


      Darlene Bullock
      4635 Scrubgrass Road
      Grove City, PA16127
      814-786-7129
      dbullock1515@verizon.net

 





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       Auctioneer ID # 9563

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