{"id":218283,"date":"2024-02-05T19:49:39","date_gmt":"2024-02-05T19:49:39","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/does-fair-market-value-account-for-air-rights\/"},"modified":"2024-02-05T19:49:39","modified_gmt":"2024-02-05T19:49:39","slug":"does-fair-market-value-account-for-air-rights","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/does-fair-market-value-account-for-air-rights\/","title":{"rendered":"Does fair market value account for air rights?"},"content":{"rendered":"

Air rights, the legal right to use the space above a property, have gained significant importance in today’s urban landscape. With cities becoming more densely populated, developers are constantly seeking ways to maximize the value of their properties. The question arises, does fair market value accurately account for air rights?<\/p>\n

The concept of fair market value refers to the price at which a property would change hands between a willing buyer and a willing seller, with neither party being under any compulsion to buy or sell. However, when it comes to air rights, the situation becomes a bit more complex. While fair market value can take into account the value of a property and its improvements, it may not explicitly consider the potential value of the air rights.<\/p>\n

The answer to the question “Does fair market value account for air rights?” is no, it does not explicitly account for air rights.<\/b> Fair market value typically focuses on the value of land and existing structures, without factoring in additional potential air rights developments. Therefore, if air rights have substantial value in a particular location, they may not be adequately reflected in the fair market value.<\/p>\n

To shed further light on this topic, here are some commonly asked questions related to air rights and fair market value:<\/p>\n

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