Code of Civil Procedure - CCP
PART 3. OF SPECIAL PROCEEDINGS OF A CIVIL NATURE [1063 - 1822.60]
( Part 3 enacted 1872. ) TITLE 7. EMINENT DOMAIN LAW [1230.010 - 1273.050]
( Title 7 repealed [comm. with Section 1237] and added by Stats. 1975, Ch. 1275. ) CHAPTER 9. Compensation [1263.010 - 1263.770]
( Chapter 9 added by Stats. 1975, Ch. 1275. ) ARTICLE 4. Measure of Compensation for Property Taken [1263.310 - 1263.330]
( Article 4 added by Stats. 1975, Ch. 1275. ) 1263.320.
(a) The fair market value of the property taken is the highest price on the date of valuation that would be agreed to by a seller, being willing to sell but under no particular or urgent necessity for so doing, nor obliged to sell, and a buyer, being ready, willing, and able to buy but under no particular necessity for so doing, each dealing with the other with full knowledge of all the uses and purposes for which the property is reasonably adaptable and available.
(b) The fair market value of property taken for which there is no relevant, comparable market is its value on the date of valuation as determined by any method of valuation that is just and equitable.
(Amended by Stats. 1992, Ch. 7, Sec. 2. Effective January 1, 1993.)