§2.02 Fair Market Value

The value of a marketable asset in marital dissolution cases is the "fair market value," which is the highest price on the date of valuation that would be agreed to by [Marriage of Cream (1993) 13 CA4th 81, 89]:

• A seller, being willing to sell but under no obligation or urgent necessity to do so; and
• A buyer, being ready, willing, and able to buy but under no particular necessity for so doing.

Valuation of items of community property in a dissolution proceeding is a question of fact for you to decide. [Marriage of Asbury (1983) 144 CA3d 918, 923.]