Definitions for "fair market value"
The price that an interested but not desperate buyer would be willing to pay...
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.
The price that a willing buyer and a willing seller would agree upon; The highest price that a buyer is willing to pay and the lowest price that a seller is willing to accept.
The amount that would be agreed upon by two independent persons. The amount to be received in the ordinary course of business in an arm's length transaction. To Top
The value of the leased equipment at the end of the lease term in an arms-length transaction.
The current value of an asset, e.g., the amount at which an asset could be sold or purchased in an arm's-length transaction.
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.