Examlex
Match the description below with the correct item from this list.
-Jock itch
Inheritance
Assets received from someone who has passed away, often subject to specific laws and taxes.
Fair Market Value
The price at which an asset would sell in the marketplace between a willing buyer and seller, each having reasonable knowledge of all relevant facts.
Long-Term Gain
Profit from the sale of an asset held for more than a specific period, typically one year, qualifying for preferential tax treatment.
Parcel of Land
A specific piece of land, defined by boundaries, that can be owned or bought.
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