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LSDefine

Simple English definitions for legal terms

land flip

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A quick definition of land flip:

Term: LAND FLIP

Definition: A land flip is when someone buys a piece of property for a low price and then quickly sells it for a much higher price to trick a bank or future buyer into thinking the property is worth more than it really is. This is not an honest way to do business and can cause problems for everyone involved.

A more thorough explanation:

Definition: A land flip is a real estate transaction where a property is bought for a low price and then quickly sold for a much higher price to deceive a lender or future buyer into thinking the property is worth more than it actually is. This is often done by selling the property to a fake buyer or entity.

Example 1: John buys a piece of land for $50,000. He then creates a fake company and sells the land to the fake company for $200,000. John then uses the fake sale to convince a lender to give him a loan for $200,000. This is an example of a land flip.

Example 2: Sarah buys a house for $100,000. She then quickly sells the house to her friend for $300,000, even though the house is not worth that much. Sarah's friend uses the inflated price to get a larger loan from a bank. This is also an example of a land flip.

These examples illustrate how a land flip can be used to deceive lenders or future buyers into thinking a property is worth more than it actually is. This can lead to inflated prices and loans that are not based on the true value of the property.

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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
9:42
My name is renard99 and I just sent @babycat feet pics
glovediedthisishismom
9:42
nobody is at the office today they should let little glovey go home and watch harry potter
Dkk
9:49
Lmfao, Gross
Dkk
9:49
@glovediedthisishismom: Watch it at the office!
Dkk
9:50
Proton vpn and https://en.solarmovie-official.lol/
let little glovey go home!
babycat
9:55
it’s true he sent me feet pics (unsolicited!)
babycat
9:56
poor little glovey
babycat
9:56
it’s illegal to make you work on a snow day
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