Definition of "Fraud"

Sandy Plachecki   real estate agent

Written by

Sandy Plachecki elite badge icon

Plachecki Home Sales @ eXp Realty

deliberate action by an individual or entity to cheat another causing damage. There is typically a misrepresentation to deceive, or purposeful withholding of material data needed for a proper decision. An example of fraud is when a property manager falsifies records in order to steal money. Falsification of a tax return by an individual. Examples of tax fraud are intentionally not reporting taxable income or overstating expense. tax fraud is a criminal act.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

Specific portion of a larger land tract. A parcel can also be a lot in a property subdivision. ...

Amount of money that must be charged or invested in the initial stage of a business transaction to demonstrate good faith as well as to help offset some expenses. For example, the customary ...

Legal obligation to pay for a benefit received as if a contract has actually occurred. This may arise in a few cases so that an equitable situation occurs. An example is when a homeowner ...

Reward for investing. The real estate investor must compare the anticipated return for an investment with the associated risk. The return includes: Appreciation (or depreciation) in ...

Also known as adjoining landowners or abutting owners, adjoining owners are property owners whose property touches a common property. The definition of adjoining property owners is those ...

Clay-baked, glazed piping that is not damage by water. It is often used in underground drainage. ...

Basis for the valuation of property acquired from a decedent for tax purposes. The unified transfer tax in 1976 provides for the valuation of property to be the adjusted basis immediately ...

Wires, such as for electricity, places beneath the floor of a structure. ...

The American Planning Association, also known as APA, is a nonprofit professional organization representing the US’s urban planning field. The APA provides extensive educational ...

Popular Real Estate Questions