fair market value

fair market value
fair market value n: a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business

Merriam-Webster’s Dictionary of Law. . 1996.

fair market value
The amount for which property would sell on the open market. This is distinguished from "replacement value," which is the cost of duplicating the property.
Category: Bankruptcy, Foreclosure & Debt
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Nolo’s Plain-English Law Dictionary. . 2009.

fair market value
USA
fair market value, Also known as FMV.
The price determined in an arm's-length transaction between a willing buyer and a willing seller in a free market.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


fair market value
n. Market value, the price that can be had for property in a reasonable commercial marketplace; in corporate law, the intrinsic value of shares of stock, for purposes of determining a buy-out price.

Webster's New World Law Dictionary. . 2000.


fair market value
The amount for which real property or personal property would be sold in a voluntary transaction between a buyer and seller, neither of whom is under any obligation to buy or sell.

Dictionary from West's Encyclopedia of American Law. 2005.


fair market value
I
The amount for which real property or personal property would be sold in a voluntary transaction between a buyer and seller, neither of whom is under any obligation to buy or sell.
 II The value for which a reasonable seller would sell an item of property and for which a reasonable buyer would buy it.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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. Real estate appraisers will use "comparable" sales of similar property in the area to determine market value, adding or deducting amounts based on differences in quality and size of the property.
   See also: appraise, appraiser, market value

Law dictionary. . 2013.

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Look at other dictionaries:

  • Fair market value — (FMV) is a term in both law and accounting that is based on the economics term of market value. It is also a common basis for assessing damages to be awarded for the loss of or damage to the property, generally in a claim under tort or a contract …   Wikipedia

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  • 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. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms… …   Glossary of Bankruptcy

  • fair market value — The amount at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts. By fair market value is meant the price in …   Black's law dictionary

  • fair market value — The amount at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of the relevant facts. By fair market value is meant the price in …   Black's law dictionary

  • Fair Market Value — The price that a given property or asset would fetch in the marketplace, subject to the following conditions: 1. Prospective buyers and sellers are reasonably knowledgeable about the asset; they are behaving in their own best interests and are… …   Investment dictionary

  • fair market value — noun : a price at which both buyer and seller are willing to do business * * * fair market value, a value established by a buyer with a clear intention to buy and a seller with a clear intention to sell, both of whom are acquainted with market… …   Useful english dictionary

  • Fair Market Value Purchase Option — The right but not the obligation to buy a leased asset at the end of the lease term for a price that represents the item s then current worth. The Fair Market Value Purchase Option does not provide the purchase price in advance, but as long as… …   Investment dictionary

  • fair market value — Actual value or value in money. Re Patton, 227 Wis 407, 278 NW 866, 117 ALR 140. That which property will sell for as between one who wants to purchase and one who wants to sell; in the absence of a ready market and a market price, a constructive …   Ballentine's law dictionary

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