Frequently Asked Questions|

Fair market value is defined by LA Revised Statute § 47: 2321 as follows:

“Fair Market Value is the price for a property which would be agreed upon between a willing and informed buyer and a willing and informed seller under the 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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