Alabama Code 35-6A-6. Determination of value of property; appraisal; notice and hearing
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Terms Used In Alabama Code 35-6A-6
- Appraisal: A determination of property value.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- following: means next after. See Alabama Code 1-1-1
- property: includes both real and personal property. See Alabama Code 1-1-1
- Sole ownership: The type of property ownership in which one individual holds legal title to the property and has full control of it.
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
