Ok my two cents. Fair market value of the land is reasonable. Perhaps some small amount extra for the time its been in your family and the sentimental value. But that isn't much. Fair value is fair value. Its not that different from selling a house (yes you don't have to sell your house ...at least a lot of the time you don't HAVE to). There isn't a homeowner out there that hasn't thought their house was special and worth more than the market really puts it at. Land is no different.