The Docket: Virginia Supreme Court Holds ‘Fair Market Value’ Provides no Certainty to Price

February 25, 2021

Stephen Gregory, underwriting counsel for WFG National Title Insurance Co., provided today’s review of a decision by the Virginia Supreme Court that considered whether an option to purchase a decedent’s real property at “fair market value” provided sufficient certainty as to the sale price to warrant specific performance of a contract for sale. Read on to learn why this case is important to the title industry.

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