Divorce Dex.com: Replacement Cost; Replacement Value; Reproduction Cost

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Definition Replacement Cost; Replacement Value; Reproduction Cost - what it costs to replace or rebuild.

Application in Divorce Replacement is the estimated cost to construct, at current prices, a building with utility equivalent to the building being appraised. Replacement assumes the use of modern materials and current standards, design, layout, and quality of workmanship. The replacement embodies all the subject property’s attractions and deficiencies.

Some buildings -- for example, the Vatican -- are said to be priceless because they could not be replaced at any cost.

As it applies to divorce actions, the term replacement cost may enter into negotiations of real property.

Typically, the replacement cost of building is much higher, expressed in nominal dollars, than the original cost because of inflation and appreciation.

Compare Fair Market Value.

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