Simple English definitions for legal terms
Read a random definition: general statute
Definition: The most appropriate or profitable use of a property.
Example: A vacant lot in a residential area may have the most suitable use as a location for a single-family home, rather than a commercial building or a park.
This term is often used in real estate valuation to determine the fair market value of a property. It considers the potential uses of the property that would generate the most profit or benefit. The example illustrates how the most suitable use of a property can vary depending on the location and zoning restrictions.
most-significant-relationship test | most-suitable-use value