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fair market value

   Also found in: Legal, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.04 sec.
fair market value
n.
The price, as of a commodity or service, at which both buyers and sellers agree to do business.


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? Mentioned in ? References in periodicals archive
 
Thus protected, the LLC successfully sold the property at fair market value after agreeing to assign the insurance policy to the new owner.
A taxpayer may deduct the fair market value of an auto if the charity intends to make "significant intervening use of or "material improvement to" the car.
You will need to find the fair market value of the home and the farmland—both their actual value and rental value.
 
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