Legal Definitions - most suitable use

Definition: The most appropriate or profitable use of a property.

Example: A vacant lot in a residential area may have the most suitable use as a location for a single-family home, rather than a commercial building or a park.

This term is often used in real estate valuation to determine the fair market value of a property. It considers the potential uses of the property that would generate the most profit or benefit. The example illustrates how the most suitable use of a property can vary depending on the location and zoning restrictions.