market value

  same as fair market value. (1) the highest price a buyer will pay and the lowest price a seller will accept when both are acting free of compulsion, with full knowledge and within reasonable amount of time; (2) as defined by the courts, it is the highest price estimated in terms of money which a property will bring in if exposed for sale in the open market, allowing a reasonable time for a purchaser with knowledge of the property's use and capabilities for use.

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