What is highest and best use?
The reasonably probable use of a property that is legally permissible, physically possible, financially feasible, and maximally productive. Often produces a different value than the current use.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.