Article 2. Evidence of Market Value of Property - California Evidence Code Section 818

818.  For the purpose of determining the capitalized value of the
reasonable net rental value attributable to the property or property
interest being valued as provided in Section 819 or determining the
value of a leasehold interest, a witness may take into account as a
basis for his opinion the rent reserved and other terms and
circumstances of any lease of comparable property if the lease was
freely made in good faith within a reasonable time before or after
the date of valuation.

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Last modified: February 16, 2015