Connecticut General Statutes > Chapter 453 – Recreation and Natural Heritage Trust Program. Connecticut Heritage Areas
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Terms Used In Connecticut General Statutes > Chapter 453 - Recreation and Natural Heritage Trust Program. Connecticut Heritage Areas
- Contract: A legal written agreement that becomes binding when signed.
- Devise: To gift property by will.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.