Brief definition of a market value agreement:
As defined by the BC. Courts, market value is:
"The highest price in terms of money at which property will sell, if exposed for sale
in the open market, allowing a reasonable time to find a purchaser buying with a full
knowledge of all uses and purposes to which it is adapted and for which it is
capable of being used."
Implicit in this definition in the consummation of a sale as of a specific date and
the passing of title from seller to buyer under conditions whereby:
The Subject Property
1. buyer and seller are typically motivated; and
2. both parties are informed or advised, and acting in what they consider their
both best interests; and
3. a reasonable time is allowed for exposure in the open market; and
4. payment is made in terms of cash in Canadian dollars or in terms of
financial arrangements comparable thereto; and
5. the price represents a normal consideration for the property sold,
unaffected by special or creative financing or sales concessions granted
by anyone associated with the sale.
6. (personal services) approval by notaries public of BC. concludes the final sale.
Period. Sold to new owners !
