CFR > Title 45 > Subtitle B > Chapter XVI > Part 1631 > Subpart E – Real Estate Management
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Terms Used In CFR > Title 45 > Subtitle B > Chapter XVI > Part 1631 > Subpart E - Real Estate Management
- Appraisal: A determination of property value.
- Contract: A legal written agreement that becomes binding when signed.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Personal property: All property that is not real property.