 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
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 free of undue pressure
to trade.
2. A reasonable time period is given for the transaction
to be completed.
Given these conditions, an asset's fair market value
should represent an accurate valuation or assessment
of its worth.
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 free of undue pressure
to trade.
2. A reasonable time period is given for the transaction
to be completed.
Given these conditions, an asset's fair market value
should represent an accurate valuation or assessment
of its worth.