"Fair Market Value" vs. "Replacement Value"



For purposes of completing Schedule B for a consumer bankruptcy, should
the "current value" be according to fair market or according to replacement?

(The "exemptions" statute 11 USC § 522 defines "value" as fair market value.

The "disclosure" statute 11 USC § 527 states that the "debt relief
agency" must tell the client that the "value" for assets in the filings
must be the replacement value.)


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