What is LawBrain?
It's a living legal community making laws accessible and interactive. Click Here to get Started »

Actual Cash Value

From lawbrain.com

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 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.

Contributors

Admin, FindLaw Nira, FindLaw_Crystal