If Your Home Is Assessed for $200,000, the Market Value

question 23

True/False

If your home is assessed for $200,000, the market value of the home should be less than $200,000.

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Definitions:

Wagering Purposes

refers to the use of funds or resources for betting or gambling activities.

Co-Insurance

A type of insurance coverage in which the insurer and the insured share losses incurred according to a specified formula.

Insured

A person or entity covered by an insurance policy, receiving protection against specified risks or damages.

Risk Of Loss

In contractual terms, refers to which party bears the financial burden if the goods are damaged or lost before delivery is completed.