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LSDefine

Simple English definitions for legal terms

simulated sale

Read a random definition: Advocate General

A quick definition of simulated sale:

A simulated sale is when someone pretends to sell something, but no money or ownership is actually exchanged. This is usually done to try and hide the property from creditors. It's like playing pretend, but with real things.

A more thorough explanation:

A simulated sale is a type of sale where no price or consideration is paid, and there is no intention to transfer ownership. This type of sale is usually done to try to protect property from creditors. It is also known as a simulated transaction.

For example, if a person owes a large amount of money to creditors, they may try to transfer ownership of their property to a friend or family member through a simulated sale. However, since no actual transfer of ownership takes place, this type of sale is not legally valid.

Simulated sales are fraudulent and illegal. They are often used to hide assets from creditors or to avoid paying taxes. It is important to consult with a legal professional before engaging in any type of sale to ensure that it is legal and valid.

simulated judgment | simulated transaction

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another waitlist today chat, it's so joever
eggan
14:48
H i personally think you have great stats its just too late in the cycle to be applying places. if you dont get in anywhere you should consider R&R
eggan
14:49
bc at those stats you should have gotten into UGA and FSU
OrangeThing
14:58
Just deposited at UT Law
OrangeThing
14:59
It's been fun. Met a lot of great people here, most of whom I don't speak to anymore after the dox. No hard feelings to them really. Everyone else, good luck with the rest of the cycle
ParallelAgreeableOrangutan
15:01
@hcarralero2005: UGA was a mess this cycle. It's not you, it's them
15:02
i'm wondering if i should do a seat deposit at hofstra- i'm waiting on 10 plus schools still
15:06
when's it due
15:06
4/15
15:07
shit it's a pretty good chunk of money I'd def deposit but not till the day before
Fo tee five minutes till Fo pm
15:34
it's conditional tho unfortunately
15:35
hell nah what are the condiitions
MrThickRopes
15:50
WAVES TN?
MrThickRopes
15:50
WAVES FO PM?
none, they hate us
MrThickRopes
15:59
fucks
MrThickRopes
15:59
I need al a bama
CheeseIsMyLoveLanguage
16:01
Is anyone else feeling weighed down by the idea of taking on debt or making a big move while the economy is so uncertain?
MrThickRopes
16:03
bro think ima pay off my loans
16:04
mf you better collections is no joke
CheeseIsMyLoveLanguage
16:05
I guess there's always that route! 😂
[] c0bra1
16:14
damn my wake forest withdrawal didnt help the wl ppl 💀
MrThickRopes
16:15
what they gon collect frum me
MrThickRopes
16:15
nothin
Fuck fo pm
MrThickRopes
16:24
thas right
BlueFalcon95
16:25
Das right
hey, just so u all know - i just farted
i luv u all and will be seeing u all shortly
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