Market Value V. Actual Cash Value

Definition of "Market value v. actual cash value"

Jason Nicolai real estate agent
Jason Nicolai, Real Estate Agent

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.

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