Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 28. Transportation |
Chapter 20. STATE HIGHWAYS AND ROUTES |
Article 6. Land Purchase, Sale and Condemnation |
Sec 28-7091. Definition of market value
Latest version.
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For the purposes of this article, "market value" means the most probable price estimated in terms of cash in United States dollars or comparable market financial arrangements that the property would bring if exposed for sale in the open market, with reasonable time allowed in which to find a purchaser, buying with knowledge of all of the uses and purposes to which it was adapted and for which it was capable.