highest and best use

highest and best use
In real estate valuation (e.g. in condemnation proceedings) the use of land or buildings which will bring the greatest economic return over a given time. This method of valuation requires expert to determine what condemned property's fair market value would realistically be if owner were hypothetically allowed to adapt his property to its most advantageous and valuable use. Raleigh-Durham Airport Authority v. King, 75 N.C.App. 57, 330 S.E.2d 622, 626

Black's law dictionary. . 1990.

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  • Highest and best use — is a concept in real estate appraisal. It states that the valueof a property is directly related to the use of that property; the highest and best use is the reasonably probable use that produces the highest property value. This use, the Highest… …   Wikipedia

  • highest and best use — geriausias turto panaudojimas statusas T sritis turto vertinimas apibrėžtis Efektyviausias, kiek fiziškai įmanoma, teisiškai leidžiama ir finansiškai galima, vertinamo turto panaudojimas. atitikmenys: angl. highest and best use šaltinis… …   Lithuanian dictionary (lietuvių žodynas)

  • highest and best use — In real estate valuation (e.g. in condemnation proceedings) the use of land or buildings which will bring the greatest economic return over a given time. This method of valuation requires expert to determine what condemned property s fair market… …   Black's law dictionary

  • best use — In eminent domain, the value of property considering its optimum use at a given time and hence the money which should be awarded for such governmental taking; used commonly as highest and best use , (q.v.) …   Black's law dictionary

  • best use — In eminent domain, the value of property considering its optimum use at a given time and hence the money which should be awarded for such governmental taking; used commonly as highest and best use , (q.v.) …   Black's law dictionary

  • use — verb To make use of; to convert to one s service; to employ; to avail oneself of; to utilize; to carry out a purpose or action by means of; to put into action or service, especially to attain an end. State v. Howard, 221 Kan. 51, 557 P.2d 1280,… …   Black's law dictionary

  • use — 1 / yüs/ n 1 a: an arrangement in which property is granted to another with the trust and confidence that the grantor or another is entitled to the beneficial enjoyment of it see also trust; statute of uses in the important laws section ◇ Uses… …   Law dictionary

  • Value-in-use — is the net present value (NPV) of a cash flow or other benefits that an asset generates for a specific owner under a specific use. In the U.S., Value in Use is generally estimated at a use which is less than highest and best use, and therefore… …   Wikipedia

  • most suitable use valuation — For gift and estate tax purposes, property that is transferred normally is valued in accordance with its most suitable or highest and best use. Thus, if a farm is worth more as a potential shopping center, this value will control even though the… …   Black's law dictionary

  • most suitable use valuation — For gift and estate tax purposes, property that is transferred normally is valued in accordance with its most suitable or highest and best use. Thus, if a farm is worth more as a potential shopping center, this value will control even though the… …   Black's law dictionary

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