Fair Market Value

Fair market value (FMV) is an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market. An estimate of fair market value may be founded either on precedent or extrapolation. Fair market value differs from the intrinsic value that an individual may place on the same asset based on their own preferences and circumstances.Since market transactions are often not observable for assets such as privately held businesses and most personal and real property, FMV must be estimated.
Posts about Fair Market Value
  • 5 Ways An Insurance Company Can Respond To Your Claim

    … reliable new parts for the repairs. Pay the value of a totaled car: Some accidents result in damages that cost more than the estimated worth of the car. This is when a vehicle is totaled. If you have full coverage on your car, the insurance company often pays you the car’s market value minus the deductible you’re required to pay. While…

    Jared Staver/ Chicago Personal Injury Lawyer- 20 readers -
  • Whistleblower Receives $4.5 Million Award

    … administration suggested that his high salary from the hospital was predicated on the hospital making money from ancillary testing and services such as imaging. When Hammett balked and refused to send more patients to the hospital for testing, he claims he was suddenly fired. After his termination, Dr. Hammett fell on hard times. His non-compete…

    Due Diligence- 9 readers -
  • Missouri Deficiencies After Foreclosure

    … a deficiency. In many cases, the deficiency can cost thousands of dollars. If you go through a foreclosure in Missouri and the foreclosure sale price does not cover the entire debt, your lender may sue you to collect the entire “deficiency” even if the sale price is less than the property’s fair market value. Missouri Supreme Court On April 17, 2012…

    www.kcarplaw.com- 31 readers -
  • Looking for Detroit Tenet – Vanguard Hospital Whistleblowers – Upcoding & Kickback

    … that are not medically necessary and improperly performed / supervised services can all be violations of the False Claims Act and eligible for an award. Unlike Arizona, Michigan also has a state Medicaid fraud law meaning it is often possible to receive two awards in Michigan, one for Medicare and one for Medicaid. To qualify for an award, one must have…

    Due Diligence- 22 readers -
  • Can You Keep Your Household Items in Bankruptcy?

    … Can You Keep Your Household Items in Bankruptcy? Posted on Jan 28, 2016 By Heather Banks January 28, 2016 by Heather Banks Daily, I speak to individuals who have borrowed money from a loan company and pledged their household goods as collateral. These loans are most often at very high interest rates and require that the borrower pledge nearly…

    Bond and Botes- 26 readers -
  • Charitable Giving and Tax Deductions

    … Charitable Giving and Tax Deductions Posted on Dec 08, 2015 By Kathryn Davis December 8, 2015 by Kathryn Davis The holiday season is upon us once again. This time of year, many people are motivated to give to charities. While there are many obvious benefits to charitable giving, one additional benefit to the giver is that their contribution…

    Kathryn Davis/ Bond and Botes- 38 readers -
  • Can You Keep the Household Goods You Pledged to a Finance Company?

    … bankruptcy you can propose to redeem the collateral. Redeeming is paying the fair market value of the collateral, not what you owe on the debt. Be sure to tell your attorney what you believe you could sell the items for (yard sale, craigslist, pawn shop, etc.) when you go over the paperwork for preparing the petition. Your attorney then will file a motion…

    Cynthia Lawson/ Bond and Botes- 34 readers -
  • Reaffirmation of Debts

    …. Sounds pretty good, right? Well, not so fast. The legal effect of a reaffirmation agreement is to exempt the debt you owe on the car from the bankruptcy discharge you get at the end of your case. In other words, you still owe the full balance of the debt even after your bankruptcy case is over. As long as you pay your car note on time each month…

    Ed Woods/ Bond and Botes- 31 readers -
  • Florida Hospitals Fight Medicare Fraud Kickback Case

    … at Melbourne Internal Medicine Associates (“MIMA”) through a variety of techniques including: “granting them the exclusive ability to invest in and own portions of subspeciality healthcare facilities that ultimately proved very profitable”; paying them as “Medical Directors” even though these positions required little or no work; offering them exclusive…

    Due Diligence- 38 readers -
  • Is it Time to Appeal Your Property Assessment?

    … value of your property and in most cases does not equal 100 percent of the fair market value of your property, is established by the county once every few years and remains fixed as property values move up and down. So if your assessment is too high, either because it was originally assessed too high or because of a decrease in your property’s…

    Prince Law Offices, P.C.- 9 readers -
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