Pennsylvania § 703 - Fair market value.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 703 — Fair market value., with citation guidance and answers to common questions.
§ 703. Fair market value.
Fair market value shall be the price which would be agreed to by a willing and informed seller and buyer, taking into consideration but not limited to the following factors:
(1) The present use of the property and its value for that use.
(2) The highest and best reasonably available use of the property and its value for that use.
(3) The machinery, equipment and fixtures forming part of the real estate taken.
(4) Other factors as to which evidence may be offered as provided by Chapter 11 (relating to evidence).
Cross References. Section 703 is referred to in section 521 of this title.
Frequently Asked Questions About Pennsylvania § 703
What does Pennsylvania Consolidated Statutes § 703 cover?
Section 703 ("Fair market value.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 703?
A common citation format is "Pennsylvania Consolidated Statutes § 703" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 703 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.