A price that would induce a willing purchaser to purchase or a willing seller to sell in an open market transaction; the price a property would bring at a fair sale between parties dealing on equal terms.
For participants in employee stock option plans: The price per share used by your company, as determined in your plan document, to set the Exercise Price and calculate the gain on an exercise for tax purposes.
The market at which a piece of property would sell between a reasonably informed buyer and a reasonably informed seller. In real estate markets, comparable recent sales help the buyer and seller decide the fair market value.
The highest price a property would bring if offered for sale in a competitive market for a reasonable time period, with both buyer and seller being fully aware of all the property's present and future uses without being compelled to conduct the transaction.
The value of your account as of December 31, 2001 (the last business day of the year) as shown on your year-end statement and Form 5498 (if applicable). The fair market value is calculated by multiplying the number of shares in your fund (s) by the net asset value (s).
Fair market value is the price that the property, services or assets would sell for in an open market. If no reliable price quotes are available, then the fair market value is based on a good-faith approximation of the value.
Amount at which property would be transferred between a willing buyer and a willing seller, neither of whom are under compulsion to purchase or sell and both of whom have reasonable knowledge of facts relevant to the property.
Choose this option for a specified term (1 to 5 years) and there are two options at the end of the lease term. The equipment may be purchased for the fair market value (FMV) or returned to the leasing provider with nothing further to pay. The FMV is typically 10% of the original cost of the equipment. The benefits of an FMV lease are lower monthly payments and potential tax benefits (discuss with your tax advisor).
Fair market value is the price you would have to pay to buy a particular asset or service on the open market. The concept of fair market value assumes that both buyer and seller are reasonably well informed of market conditions, that neither is under undue pressure to buy or sell, and that neither intends to defraud the other.
This is what the leased equipment would be worth on the open market at the termination of the lease. The lessee usually has the option to purchased the leased equipment at the end of an agreement at the Fair Market Value price.
A term usually found in appraisals that attempts to determine the cash price that would likely be negotiated between a willing seller and willing buyer in a reasonable amount of time. For a sale to be considered a reflection of "Fair Market Value", it must meet all the conditions of a fair sale whereby: (1) both buyer and seller act prudently, knowledgeably and under no necessity to buy or sell i.e., other than in a forced or liquidation sale, (2) the property must be offered on the open market for a reasonable amount of time, taking into consideration the property type and local market, and (3) payment is made in cash or terms equivalent to cash. When a sale is unlikely, i.e., when it is unlikely to be completed within 12 months, the appraiser must discount all cash flows generated by the property to ascertain the estimate of Fair Value.
A terms used frequently by appraisers referring to their judgement and opinion about an object's likely sale price if offered for sale by a willing buyer. Since the auction process is open to all bidders, a sale at auction is considered to be a measure of Fair Market Value.
Also referred to as FMV, it is the price an item will sell for. In real estate different methods including sales comparison method are used in determining the fair market value of a property. The lender may appoint an appraiser to determine the fair market value of a property before disbursement of funds.
The price at which a property would change hands from a willing seller to a willing buyer, where neither party is under a compulsion to sell or buy and where both have reasonable knowledge of all pertinent facts. Also, Market Value
The estimated price at which an asset or service would pass from a willing seller to a willing buyer, assuming that both buyer and seller are acting rationally, at arms length, in an open and unrestricted market, when neither is under compulsion to buy or sell and when both have reasonable knowledge of the relevant facts. It is also presumed that the price is not affected by special or creative financing or sales concessions granted by anyone associated with the sale.
The price a use asset would fetch if sold on the market today. Homes and real estate typically increase in value while automobiles and some personal property, such as computers and appliances, usually decrease in value over time.
is defined by Louisiana Revised Statute 47:2321 as follows: "Fair Market Value is the price for property which would be agreed upon between a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used." Finding the "fair market value" of your property involves discovering the price most people would pay for it in its present condition. It is not quite that simple, however, because the assessor has to find what this value would be for every property every year. The assessor's job doesn't stop there. He must immediately begin gathering sales and other data for future years as the market is constantly changing.
The highest monetary price or its equivalent available in a competitive markets as determined by negotiation between an informed, willing, and capable buyer and an informed and willing seller. Also called market value.
The price at which property is transferred between a willing buyer and a willing seller who have reasonable knowledge of all pertinent facts and neither being under any extraordinary compulsion to buy or sell.
For purposes of the Pinelands waiver program, the value of a parcel of land based on what a willing buyer will pay a willing seller in an arms length transaction, knowing the parcel needs but does not have a Waiver of Strict Compliance. The determination of fair market value will account for how much the parcel will contribute to the value of a larger, developable parcel.
The estimated amount at which the property might be expected to exchange between a willing buyer and a willing seller, neither being under compulsion, each having reasonable knowledge of all relevant facts, with equity to both.
The price at which an item can be sold by a willing seller to a willing buyer, neither of which are under any pressure to buy or sell. Furthermore, it's assumed that both parties are dealing rationally, have knowledge of relevant facts, and are not related.
The highest price on the date of the valuation that would be agreed to by a seller, being willing to sell but under no particular or urgent necessity for doing so, nor obligated to sell, and a buyer, being ready, willing and able to buy but under no particular necessity for so doing, each dealing with the other with full knowledge of all uses and purposes for which the property is reasonably adaptable and available.
The net book value on the balance sheet reflects fully depreciated assets, which may or may not have a value that exceeds NBV. In most cases, real property (e.g. real estate) is the leading candidate to be restated as a balance sheet item at fair market value (FMV).
The price at which property is transferred between a willing buyer and a willing seller, each of whom has reasonable knowledge of all pertinent facts and neither being under any compulsion to buy or sell
The price at which property would be transferred between a willing buyer and willing seller, each of whom has a reasonable knowledge of all pertinent facts and is not under any compulsion to buy or sell.
The appraiser's opinion of value as written in his or her appraisal report should reflect the fair market value of the property -- what a willing seller would pay a willing buyer in an arm's-length transaction.
The highest price available in an open and unrestricted market between informed, prudent parties, acting at armâ€™s length and under no compulsion to transact expressed in terms of money or moneyâ€™s worth.
an appraisal term for the price which a property would bring in a competitive market, given a willing seller and willing buyer, each having a reasonable knowledge of all pertinent facts, with neither being under any compulsion to buy or sell.
The price at which property would change hands between a willing buyer and a willing seller. Special IRS rules apply to the valuation of charitable gifts. For more information on this topic, visit the IRS website at www.irs.gov and read the following publications: Publication 526 - Charitable Contributions and Publication 561 - Determining the Value of Donated Property.
The value of an asset at the termination of the lease often determined by an agreement between lessor and lessee, or alternatively by appraisal or open bidding. A Fair Market Value lease is also referred to as a "True Lease" or a "Tax Lease."
The value of a piece of equipment if the equipment were to be sold in a transaction determined at arm's length, between a willing buyer and a willing seller, for the equivalent property and under similar terms and conditions. Simply, the actual market value of the leased asset.
What a willing buyer would pay a willing seller if neither were under any compulsion to buy or sell; the standard by which property is valued for estate-tax and other purposes. The fair market value of a gift of a listed marketable security is the average of its high and low quotations on the date the gift is made. For assets whose worth is not publicly listed, an appraisal is usually required to ascertain the fair market value.
Often arrived at by looking at the prices of similar properties in a given area, the fair market value will be mutually agreed upon by the buyer and seller, ie: neither party is forced into agreeing the price and terms of the transaction.
the price for property which would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used(as defined by Louisiana Statute 47:2321).
An appraisal term. It is the price that you, the buyer, are willing to pay and that the seller is willing to accept for a piece of property. In arriving at the price, both you and the seller must be reasonably aware of the pertinent facts and be under no obligation to buy or sell.
The price an item would sell for, assuming the buyer and seller both have reasonable knowledge of the item's worth and are not under pressure to buy or sell. In real estate, to determine fair market value it is common to compare other similar properties sold near the same time as your property. Also called true market value or current market value.
The highest monetary price which a property would bring, if offered for sale for a reasonable period of time in a competitive market, to a seller who is willing but not compelled to sell, from a buyer, willing but not compelled to buy, both parties being fully informed of all the purposes to which the property is best adapted and is capable of being used.
The value at which estate property is included in the gross estate for federal estate tax purposes; the price at which property would change hands between a willing buyer and a willing seller under any compulsion to buy or sell with both having knowledge of all the relevant facts.
There are many different variations on the precise definition of this term. It is basically the value of a property on the open market that represents what a seller would reasonably sell the property for and what a reasonable buyer would purchase the property for given the presumed value of other similar properties that have recently sold in the same or similar market.
The price at which a willing seller will sell, and a willing buyer will buy, in an arm's length transaction when neither is under compulsion to sell or buy and both have reasonable knowledge of relevant facts.
1st and 2nd Occurrence The price which a willing buyer will pay a willing seller for a piece of real estate. The above definition is only a general definition. You should note that the exact definition of fair market value depends on where (the jurisdiction) the property being bought or sold is located, on state/local case law and on other state/local legal issues.
The appraiser's definition is “the price at which a willing buyer would purchase a property and a willing seller would sell the same property, when neither party is under any compulsion to buy or sell, and each party has full knowledge of all pertinent facts relating to the sale.” Professional appraisers use several different methods for estimating fair market value depending on the type of property involved.
The value placed on an item or service by an informed buyer and seller, neither being under pressure to buy or sell. Items that are not traded frequently may require an expert appraisal to determine fair market value.
The price at which an asset- timber, for example-would change hands in a transaction between a willing, informed buyer and a willing, informed seller. In a Section 631 (a) transaction, the timber or other asset must be valued as it existed on the first day of the owner's tax year, regardless of any changes that subsequently happen to it or to the market. Also see “Section 631 (a) transaction.
The price which a property might reasonably be expected to realize when sold by a willing seller to a willing buyer in an arm's length transaction, after adequate exposure to the market. Determined by a comparison of the subject property to other similar properties in a similar area that have sold recently.
This is the future value of the equipment at lease termination. The Lessee will have the option to negotiate it's then fair market value and purchase the equipment. Otherwise, the Lessee can either return the equipment with no further obligation or continue to lease the equipment for an additional twelve months at the original leases payment. The FMV Leases may also qualify as a tax deductible operating expense (please consult your accountant for your particular tax situation).
A hypothetical number representing the most probable price that would be paid for a property by average, informed purchasers. Federal Public Defender An attorney employed by the federal courts on a full-time basis to provide legal defense to defendants who are unable to afford counsel. The judiciary administers the federal defender program pursuant to the Criminal Justice Act.
is the price that the Buyer is willing to pay and that the Seller is willing to accept for a piece of property. In arriving at this price, the Buyer and the Seller must be reasonably aware of the pertinent facts and not be under any duress to buy or sell.
The amount of money paid for a property offered on the open market for a reasonable period of time with both buyer and seller knowing all the uses to which the property could be put and with neither party being under pressure to buy or sell.
Fair Market Value is the value or price that is established in a transaction in which a property is sold in the open market with a reasonable time for the seller to find a purchaser. Both the seller and purchaser should be attempting to maximize their gains while neither is in a position to take advantage of the other. See page 27.
The fair market value is the value (generally, what a willing buyer would pay to a willing seller) of an asset or assets of an IRA as of a certain date. The December 31 fair market value of total IRA assets must be provided to each IRA holder and the IRS each year.
The price for a property in a fair and competitive market. The sale price of your home is a true value if it's freely available on the open market. This means that all potential buyers know that a home is up for sale and have an equal opportunity to bid for it. Even if you sell your home for less than you would have liked, this price is still fair and square. The price of a home sold in court actions, such as a foreclosure or bankruptcy is not the fair market value.
The price at which property would change hands between a willing buyer and a willing seller, where both parties have reasonable knowledge of the relevant facts and neither party is under any compulsion to buy or sell.
Also known as Objective Value or Market Value; it is the price which a willing seller agrees is the most probable price the property will bring on the open market and a willing buyer is agreeable to pay. (This assumes that neither party is under severe pressure to buy or sell.)
An amount that would be paid by a willing seller and accepted by a willing buyer, both of whom are under no compulsion to buy or sell and both of whom have full knowledge of the significant facts about the property.
The price a market-educated buyer will pay and a market-savvy seller will accept for property given that neither the seller nor the buyer is under duress caused by a divorce, an unanticipated job transfer, or some other circumstance that puts either party under pressure to perform quickly. Related Glossary Terms: market value
The price established in a free market between a buyer and seller in an arms length transaction where neither one is compelled to buy or sell. In an appraisal, this is the final value derived after examining the Sales Comparison, Cost, and if applicable, Income approaches; sometimes referred to as "Market Value."
The amount at which an asset could be bought or sold in a current transaction between willing parties, that is, other than in a forced or liquidation sale. If a quoted market price is available for a financial instrument, the fair market value to be used is the product of the number of trading units of the instrument times the market price per unit.
Amount that could be received on the sale of real estate when there is a willing seller and buyer. It is a term generally used in property tax and condemnation legislation, meaning the market value of a property.
Fair Market Value is a term in both law and accounting to describe an appraisal based on an estimate of what a buyer would pay a seller for any piece of property. It is a common way of evaluating the value of property when assessing damages to be awarded for the loss of or damage to the property, generally in a claim under tort or a contract of insurance.
Portion of a mortgagor's monthly payments held by the lender or servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due. Also known as impounds or reserves in some states.