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.
Popular Real Estate Terms
A forced sale or forced liquidation typically means an involuntary sale of valuables or property for financial reasons. If an unpredictable or uncontrollable event emerges, a seller must ...
Written statements about a person or business that are malicious, unfounded, and damaging. It is the basis for legal action. ...
Depressed or raised framed in portion of a wall, ceiling, or door. A panel board pattern is decorative and gives the effect of a series of highlighted squares or rectangular pieces. ...
America remains a top tourist attraction worldwide, with over 79 million foreign visitors a year. Many are seduced by the American Dream and sooner or later they wonder how they could ...
Property tax rate whereby each mill is $1 of tax assessment per $1,000 of assessed property value. For example, a house in Los Alamitos is assessed at $200,000 and the millage rate is 10 ...
Interest rate that exceeds the rate on the old loan but in less than the rate on new loans. It is usually offered by the lender to encourage home buyers to refinance existing, low interest ...
Time interval between buying a real estate investment and selling it. A sound way to determine the return from a real estate investment is over its life. For example, if land was bought on ...
Inventory that is marketed and sold by an entity. ...
The allocation method estimates the value of the property’s land by gathering information from comparable properties. The allocation method of estimating site value is ideal, however, ...
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