open market value

open market value
In the context of property transactions, the best price that might reasonably be expected for property, or an interest in property, from an unconnected third party on a certain date. A valuer would normally base such a valuation on an average of values for similar properties or interests and would not take into account an unusual transaction.
The term may have a particular meaning, depending on context. For example, many leases will specify exactly what is meant by open market value (or open market rent) in the context of a rent review.
Related links

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

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  • open market value — OMV See market value …   Big dictionary of business and management

  • market value — market capitalization The value of a company obtained by multiplying the number of its issued ordinary shares by their market price This may differ widely from the book value of the company. (open market value; OMV) The value of an asset if it… …   Big dictionary of business and management

  • Market value — For values of entire markets, see Market size. Market value is the price at which an asset would trade in a competitive auction setting. Market value is often used interchangeably with open market value, fair value or fair market value, although… …   Wikipedia

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  • Open market operations — (also known as OMO) is the buying and selling of government bonds on the open market by a central bank. It is the primary means of implementing monetary policy by a central bank. The usual aim of open market operations is to control the short… …   Wikipedia

  • market value — n 1: the price at which a buyer is ready and willing to buy and a seller is ready and willing to sell 2: market price (1) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • market value — ► NOUN ▪ the amount for which something can be sold in an open market …   English terms dictionary

  • Below Market Value — refers to the process of buying real estate property below the cited open market value and refinancing the property using a mortgage loan to enable the buyer (investor) to purchase the property from the seller (vendor) for little or No Money Down …   Wikipedia

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