fair market value


: a price at which buyers and sellers with a reasonable knowledge of pertinent facts and not acting under any compulsion are willing to do business

Examples of fair market value in a Sentence

Recent Examples on the Web In an open-end lease, if the value of the car is less than the salvageable value, the lessee might need to pay for the difference between the salvageable value and the car's fair market value. Elizabeth Rivelli, Car and Driver, 12 July 2023 Prescott was getting paid fair market value and was smart in seeking a shorter contract extension. Calvin Watkins, Dallas News, 20 Aug. 2023 Albert provides expert witness testimony for both plaintiffs and defendants, helping determine and establish fair market value and providing impartial professional opinion. Debbi Compton, USA TODAY, 17 Aug. 2023 In a 4-2 vote, the City Council endorsed an amendment to an ordinance that will relinquish the use of the Upper Pontalba Apartment unit back to the French Market Corporation to be leased at fair market value. Louis Casiano, Fox News, 10 Aug. 2023 These cases usually involve an advertiser, talent, or music publisher finding themselves in a case regarding rights issues and fair market value disputes over advertising use of a name, likeness, or piece of music. Debbi Compton, USA TODAY, 17 Aug. 2023 Opponents said the measure would discourage landlords from making their properties available to rent because they would be prevented from charging fair market value. Laurel Rosenhall, Los Angeles Times, 3 Aug. 2023 Public listings attract competing offers and can better determine fair market value. Anjeanette Damon, ProPublica, 2 Aug. 2023 Your car has a higher fair market value than its residual value. Ashley Donohoe, Car and Driver, 14 July 2023 See More

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'fair market value.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1891, in the meaning defined above

Time Traveler
The first known use of fair market value was in 1891

Dictionary Entries Near fair market value

Cite this Entry

“Fair market value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/fair%20market%20value. Accessed 25 Sep. 2023.

Legal Definition

fair market value

: a price at which buyers and sellers both having reasonable knowledge of the property and being under no compulsion are willing to do business

More from Merriam-Webster on fair market value

Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!