fair market value
(redirected from Fair Market Values)Also found in: Dictionary, Legal.
Fair Market Value
A subjective estimate of what a willing buyer would pay a willing seller for a given asset, assuming both have a reasonable knowledge of the asset's worth. Fair market value is important in both law and accounting. In the former, it is often used in assessing damages as the result of a lawsuit. In the latter, determining the fair market value of an asset (e.g. after depreciation) is important to determining the amount of tax owed on it.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
fair market value
The price at which a buyer and a seller willingly consummate a trade.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
Fair market value.
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. It also assumes that neither is under undue pressure to buy or sell, and that neither intends to defraud the other.
Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
fair market value
The amount that a willing buyer would pay a willing seller for property after reasonable exposure to the marketplace.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
Fair Market Value (FMV)
The amount at which property would change hands between a willing buyer and a willing seller, neither being under compulsion to buy or sell and both having reasonable knowledge of the relevant facts.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary