13-711. Fair market value; definition.
Fair market value is considered to be the highest amount of cash a willing seller would take, and a willing buyer would offer, for the property if it were offered for sale in the open market for a reasonable time to find a purchaser, buying with knowledge of all the uses to which the property is suitable or adaptable; the seller not being required to sell nor the purchaser being required to purchase.
USE NOTE
This instruction is necessary in every condemnation case, except when the only property interest involved is that of the tenant.
You are being directed to the most recent version of the statute which may not be the version considered at the time of the judgment.