“Fair market value” means the price a seller is willing to accept and a buyer willing to pay on the open market and in an arm’s length transaction.
(Added by Stats. 2004, Ch. 705, Sec. 1. Effective January 1, 2005. Repealed as of January 1, 2027, pursuant to Section 25395.109, with continuing effect as provided in Section 25395.110.)
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