abstract The common definition o...

abstract

The common definition of highest and best use is redundant and ambiguous. Its vagueness imparts itself to different interpretations and frequently causes otherwise similar appraisals to expiration in irreconcilable value conclusions. This paper reveals the inconsistencies and then currents a new definition--specific with defer to to user and timing of the use--that is precise, clear, and universally applicable.

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Precise, clear definitions are the foundation of any corpse of knowledge. Appraisal is no exception. Among the many terminuss in our lexicon, three stand not at home as being most critical: market value, appraisal, and highest and best use. Others are important,