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Fiduciary Administration, South Carolina Law > Gift Taxes > Flashcards

Gift Taxes Flashcards

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1
Q

What is the definition of Fair Market Value?

A

The price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts.

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Fiduciary Administration, South Carolina Law (5 decks)

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