CFR > Title 36 > Chapter II > Part 223 > Subpart B > Appraisal and Pricing
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Terms Used In CFR > Title 36 > Chapter II > Part 223 > Subpart B > Appraisal and Pricing
- Appraisal: A determination of property value.
- Contract: A legal written agreement that becomes binding when signed.
- 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.