“Fair market value” means the price a seller is willing to accept and a buyer willing to pay on the open market and in an arm’s length transaction.
Cal. Health & Safety Code § 25395.73
Definitions
Known as the California Land Reuse and Revitalization Act
The act spans §§ 25395–25395 (48 sections).
Added by Stats. 2004, Ch. 705, Sec. 1
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.