Full and Fair Cash Value

A Full and Fair Cash Value is a market value that a willing owner sells an asset or property to a willing buyer.

References

(Wikipedia, 2022) ⇒ https://en.wikipedia.org/wiki/fair_market_value Retrieved:2022-11-30.
- The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several regulatory bodies. ^[1] In litigation in many jurisdictions in the United States the fair market value is determined at a hearing. In certain jurisdictions, the courts are required to hold fair market hearings, even if the borrowers or the loans guarantors waived their rights to such a hearing in the loan documents.

https://carta.com/blog/what-is-a-409a-valuation/
- QUOTE: ... A 409A valuation is an independent appraisal of the fair market value (FMV) of a private company’s common stock (the stock reserved mainly for founders and employees). This valuation from section 409A of the IRS’s internal revenue code (IRC) determines the cost to purchase a share.
  Long story short: You can’t offer equity without knowing how much a share is worth. So if you want to offer equity, you’ll need a 409A valuation. ...

http://www.brooklinema.gov/378/Definitions
- QUOTE: Full and Fair Cash Value - The assessors are required to assess all property at its "full and fair cash value," a term which could also be described as "market value" or "fair market value." Massachusetts General Laws define full and fair cash value as the price an owner willing, but not under compulsion, to sell, ought to receive from one willing but not under compulsion, to buy.

(MA DoR, 2008) ⇒ Massachussets DoR. (2008). “Municipal Finance Glossary.” Massachussets Department of Revenue - Division of Local Services
- QUOTE: Full and Fair Cash Value (FFCV) – Fair cash value has been defined by the Massachusetts Supreme Judicial Court as “fair market value", which is the price an owner willing but not under compulsion to sell ought to receive from one willing but not under compulsion to buy. It means the highest price that a normal purchaser not under peculiar compulsion will pay at the time, and cannot exceed the sum that the owner after reasonable effort could obtain for his property. A valuation limited to what the property is worth to the purchaser is not market value. The fair cash value is the value the property would have on January first of any taxable year in the hands of any owner, including the present owner. “ (Boston Gas Co. v. Assessors of Boston, 334 Mass. 549, 566 (1956))