Actual Cash Value

Author:Jeffrey Lehman, Shirelle Phelps
 
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The fair or reasonable cash price for which a property could be sold in the market in the ordinary course of business, and not at forced sale. The price

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it will bring in a fair market after reasonable efforts to find a purchaser who will give the highest price. What property is worth in money, allowing for depreciation. Ordinarily, actual cash value, fair market value, and market value are synonymous terms.

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