Market Value V Actual Cash Value

Definition of "Market value v. actual cash value"

Value of property as established by the price a willing buyer would pay for property purchased from a willing seller, compared with the replacement cost of damaged or destroyed property minus depreciation and obsolescence. Usually, replacement cost basis is used in property insurance to indemnify an insured for damaged or destroyed property.

Have a question or comment? We're here to help.

*** Your email address will remain confidential.

Search Real Estate Terms

Popular Real Estate Terms

Popular Real Estate FAQ