Full and Fair Cash Value

From GM-RKB
(Redirected from Fair market value)
Jump to navigation Jump to search

A Full and Fair Cash Value is a market value that a willing owner sells an asset or property to a willing buyer.



References

2022

  • (Wikipedia, 2022) ⇒ https://en.wikipedia.org/wiki/fair_market_value Retrieved:2022-11-30.
    • The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several regulatory bodies. [1] In litigation in many jurisdictions in the United States the fair market value is determined at a hearing. In certain jurisdictions, the courts are required to hold fair market hearings, even if the borrowers or the loans guarantors waived their rights to such a hearing in the loan documents.

2022

2016

  • http://www.brooklinema.gov/378/Definitions
    • QUOTE: Full and Fair Cash Value - The assessors are required to assess all property at its "full and fair cash value," a term which could also be described as "market value" or "fair market value." Massachusetts General Laws define full and fair cash value as the price an owner willing, but not under compulsion, to sell, ought to receive from one willing but not under compulsion, to buy.

2008


  1. to wit, Internal Revenue Service Notice 2005-43