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LSDefine

Simple English definitions for legal terms

simulated transaction

Read a random definition: indenture of a fine

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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love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
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bodyadaya
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let it rock
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How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
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Cornell
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@HopefullyinLawSchool What's YM?
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oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
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your*
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I fear I realized too late
babycat
14:20
another victim claimed
concorde
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pwned
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Might have to send in addendums for that
Dkk
14:26
No wave, so sad.
WorthlessAttractiveZombie
14:28
What are the odds that berk releases later today?
babycat
14:28
@Dkk: And here I thought you were a prophet. Smh.
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