FAIR MARKET VALUE
1. Value to the taker
2. Value to the owner
See 67 Yale L.J. 61
JKEY WAVS: I ,
Di a/L Va 4i
^ .(' /^7> --
FMV only a "tool" to assist in determining what is full compensation.
Jacksonville Expressway Authority vs. DuPree Co., 108 So 2d 289
See Nichols Vols. 4,5
Orgel Valuation Under Eminent Domain
* It is the owner's property rights that are protected not his in-
vestment. There is no guarantee that he will necessarily receive
his investment back.
U.S. vs. Powelson, 319 U.S. 266, 63 S. Ct. 1047, 87 L.Ed. 1390
SRD vs. Stack, 231 So. 2d 859
FMV is the amt. of money that a purchaser willing but not obligated
to buy the property would pay an owner willing but not obligated
to sell, taking into consideration all uses to which the property
is adapted and might be applied in reason.
This definition includes for condemnation purposes uses permitted
by reasonably probable future changes in zoning.
Sec: 116 So. 2d 762
In determining the willing buyer willing seller test of market
value the csurtsahave held that all factors should be considered
that reasonably would be given weight in negotiations between a
seller and a buyer. Swift & Co. vs. Housing Authority of Plant City,
106 So. 2d 616.
Part of the test:
1. Fair sale resulting from fair negotiations.
2. Neither party acting under compulsion of necessity.
3. Both parties have knowledge of all relevant facts.
4. Sale without peculiar or special circumstances.
5. Reasonable time in which to find a buyer.
. L I"
See: Holt and Barns 7 Miami Law Q. 147 at 156,157
1 Orgel 20
See Vol. 6 The Practical Layiver P. 46