Terms Used In California Codes > Education Code > Title 1 > Division 1 > Part 10.5 > Chapter 1 > Article 2 - Disposal of Sites

• 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}
• license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7
• persons: includes corporations, firms, partnerships and associations existing under or authorized by the laws of this State or any other State, or any foreign country. See California Business and Professions Code 16702
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• State: means the State of California, unless applied to the different parts of the United States. See California Business and Professions Code 21
• Subdivision: means a subdivision of the section in which that term occurs, unless some other section is expressly mentioned. See California Business and Professions Code 15