California Government Code 53868 – The legislative body shall determine the fair market value of the …
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The legislative body shall determine the fair market value of the property or lien and that value is the minimum price receivable on the sale.
(Added by Stats. 1949, Ch. 81.)
Terms Used In California Government Code 53868
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.