Property Valuation
In a Kansas appraisal, 'arm's length transaction' means:
AThe buyer and seller are family members
BA transaction between unrelated parties acting freely in their own interests✓ Correct
CA foreclosure or distressed sale
DA sale where the seller is the lender
Explanation
An arm's length transaction is one between unrelated, independent parties both acting freely in their own best interests — the type of sale used as a comparable in appraisals.
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