Usufruct
R.S. 47:2321

Fair market value; defined ACTIVE

Fair market value is the price for property which would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances; it shall be the highest price estimated in terms of money which property will bring if exposed for sale on the open market with reasonable time allowed to find a purchaser who is buying with knowledge of all the uses and purposes to which the property is best adapted and for which it can be legally used.

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JSON Markdown Source (legis.la.gov)

References

None.

Cited by

History

  • enactment Acts 1976, No. 705, §1, eff. Aug. 4, 1976

Section navigation

Cite R.S. 47:2321

Bluebook
La. Rev. Stat. Ann. § 47:2321 (2026).
Permalink
https://theusufruct.com/rs/title-47/section-2321
BibTeX
@misc{larevstat-47-2321,
  title        = {La. Rev. Stat. Ann. § 47:2321},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-47/section-2321},
  note         = {Snapshot 2026-05-22}
}