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
Computer software packages designed to serve mortgage banking functions, such as mortgage loan accounting/servicing, loan origination, loan processing, lease/financial/investment analysis, ...
Not attached to any parcel of land but merely a personal right to use the land of another. ...
Trade group of predominately land developers. ...
Combination of IRC 1034 and 121 dealing with the sale of a personal residence with the once-in-a-lifetime $125,000 exclusion that may be available for the "over-55" seller. Should the ...
A public officer given the right to authenticate a document, accept a person's oath, administer depositions, and to conduct other activities in commercial business. An official seal is used ...
A judicial ruling in which the rights and claims of the parties have been considered. A final ruling on some aspect formed after all the facts have been taken into account. In Real ...
Latin term meaning legal capacity to act on behalf of oneself. ...
State tax based on the value of property received through inheritance. The tax is paid by the recipient not the estate. Tax paid to the government or state upon the death of the taxpayer ...
Privilege granted by a franchiser to a franchisee permitting the latter to operate using the franchiser's name. The franchisee must pay a franchise fee for such right. In addition, the ...
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