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LSDefine

Simple English definitions for legal terms

simulated transaction

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A quick definition of simulated transaction:

A simulated transaction is when someone pretends to sell something, but no money or ownership actually changes hands. 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 transaction is a type of sale in which no price or other consideration is paid or intended to be paid, and in which there is no intent to actually transfer ownership. This type of sale is usually done in an attempt to put property beyond the reach of creditors.

For example, if a person owes a large amount of money to creditors, they may try to sell their property to a friend or family member for a very low price, but with the understanding that they will continue to use and control the property as if they still owned it. This is a simulated transaction because there is no real transfer of ownership, and the seller is trying to hide their assets from their creditors.

Simulated transactions are illegal and can be challenged in court by creditors or other interested parties.

simulated sale | simulatio latens

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14:15
sad. imagine being here in 2005/2010 when it was 100 operational. woe is me
@llama: back when 160s meant t14
14:16
born too late to experience full LSD born too soon to explore the galaxy
14:16
^ gets it
lilypadfrog
14:16
https://www.lsd.law/users/creep/cryptanon this is one of the guys who made the website
14:16
@lilypadfrog: wow more recent than i would have wagered
14:17
how is it so that I creep a rando and their app year is 2005-2005?
14:17
2005-2006* for example
renard99
14:18
^ find that rando in your circle and ask them where they've stored all their cycle letters
ReminiscentZestyFish
14:18
Vandy??
renard99
14:18
Possibly in a dark corner of the attic in a box
VANDY
soyalmondoatmilk
14:18
vandy A let's gooooo
all the Vandy
ReminiscentZestyFish
14:18
Aint no way
jackfrost11770
14:19
Wow that's awesome nothing from vandy
GreyCeaselessMammoth
14:19
what
GreyCeaselessMammoth
14:19
fuck
renard99
14:19
@soyalmondoatmilk: Congratulations!!!
jackfrost11770
14:19
I applied in November
jackfrost11770
14:19
Idk when the As did
GreyCeaselessMammoth
14:19
does anyone know if they usually release all at once or waht
nothing
jackfrost11770
14:20
Well I hope not otherwise I'm screwed
jackfrost11770
14:21
Anderson cooper PLEASEEEEE
For ED and their last wave of decisions it was an email all at once
GreyCeaselessMammoth
14:22
ugh
gonna go cry
jackfrost11770
14:22
Ugh
jackfrost11770
14:22
:(
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