Market value

{
  "id": "MLC-T-LAW-003169",
  "term": "Market value",
  "field": "Law",
  "definition": "The most probable price that a property should bring in a competitive and open market under all conditions requisite to a fair sale. This assumes the buyer and seller are acting prudently and knowledgeably, and that the price is not affected by undue stimulus. It is a key metric for property taxation, insurance valuation, and real estate transactions.",
  "url": "https://mlchart.com/terminology/law/market-value/"
}