Fair Market Value
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FAIR MARKET VALUE - The price (cash or equivalent) that a buyer could reasonably be expected to pay and a seller could reasonably be expected to accept, if the business were for sale on the open market for a reasonable period of time, ...
Fair market value: The market price for an asset as would be agreed to by a willing buyer and a willing seller.
Fee simple ownership: Property ownership where one person or entity holds the entire ownership interest.
Fair market value The hypothetical most probable price that could be obtained for a property by average, informed purchasers.
Fair Market Value:
That hypothetical value of a piece of property, given a willing purchaser and a willing vendor, and a reasonable amount of time for the property to be exposed to sale.
fair market value
n. the amount for which property would sell on the open market if put up for sale. This is distinguished from "replacement value," which is the cost of duplicating the property.
Fair market value
A hypothetical number representing the most probable price that would be paid for a property by average, informed purchasers.
Fair market value - The value for which a reasonable seller would sell an item of property and for which a reasonable buyer would buy it.
Fair market value: The price that a willing buyer and a willing seller would agree to.
fair market value : a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business ...
Fair market value
Definition - Noun
: a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business
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Even where there is no contract, per se, there may be a cause of action where a person gives value to another under circumstances that would cause the first person (if reasonable) to believe the second person will give fair market value for what he ...
B sues T and recovers the fair market value of the labor he performed for T during those 9.5 months. Note that in this instance, because B is in breach of his contract with T, B cannot recover more than the contract rate for his labor.
Appraisal: The procedure for determining the fair market value of an asset for equitable distribution in divorce.
Antitransfer Laws Laws that penalize people who, in order to become eligible for means-tested benefits such as SSI and Medicaid, have transferred their assets to others for less than fair market value.
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Courts commonly order appraisals in probate, condemnation, bankruptcy or foreclosure proceedings in order to determine the fair market value of property.
The process is also known as "condemnation" and the land taken by eminent domain must be acquired from the owner at reasonable compensation (fair market value) and meet requirements related to the degree of public use or community improvement that ...
occurs when the cost of repairing the damage to a vessel is greater than the market value of the vessel at the time of the accident. Most marine insurers will not pay to fix a vessel if the cost of those repairs exceeds the vessel's fair market value.
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