Property Valuation
Market value in a Wyoming appraisal is defined as the most probable price a property would bring in:
AA forced sale or auction
BAn arm's length transaction between a willing buyer and willing seller, both knowledgeable and acting without undue pressure✓ Correct
CA transaction between family members
DA transaction involving foreclosure proceeds
Explanation
Market value assumes a hypothetical transaction: a willing buyer and willing seller, both reasonably knowledgeable, acting without compulsion, and negotiating at arm's length. It is not the same as price actually paid.
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