- A portion of the earth’s surface extending downward to the center to the earth and upward into space, including all things permanently …
- Land and anything permanently attached to the land whether by nature or by person.
- an identified parcel or tract of land, including improvements, if any.
- Term for land and all fixtures to land, including buildings and other improvements.
- Land, including all inherent natural attributes and man-made improvements of a permanent nature placed thereon.
- Land and anything permanently affixed to it, including buildings, fences and other items attached to the structure.
- One who is licensed by the state to carry on the business of dealing in real estate. A broker may receive a commission for his or her part in bringing together a buyer and seller, landlord and tenant, or parties to an exchange.
- Land and all physical property on, below or attached to the land. Houses, sewers, trees and fences are all real estate.
- A term which is used to describe land. Real property is transferred by a deed. All other property is known as personal property.
- Land and its appurtenances (attachments such as buildings or other structures or improvements)
- Includes real property, leasehold and business whether with or without premises, fixtures, stock in trade, good of chattels in connection with the operation of the business.
- This refers to the physical land and appurtenances, including structures affixed thereto. In some states, by statute, this term is synonymous with real property.
- This is the land, appurtenances and all structures erected thereon. Usually used synonymously with real property.
- A piece of land and whatever physical property is on it.
- land, improvements to the land (buildings), a mine or quarry, minerals, standing timber and any estate or interest in the previously mentioned property.
- Commonly used to mean land and whatever is attached to land (such as houses, trees, fences and the like).
- Homes, offices, or other land or buildings that you can invest in. An investor might choose to invest in a house if he thinks it is in a market where property values will rise in the near future.
- is land and any additions and improvements, such as buildings, sewers, sidewalks, and anything else considered to be permanently attached to the land. …
- Land and those things erected or growing upon it, such as buildings, fences or crops. The term embraces items such as light, plumbing and heating fixtures when permanently attached.
- Land including all the natural resources and permanent buildings on it. Specialized technician A person with the knowledge and skill needed to carry out a specific technical procedure.
- A section of land including all the natural resources (above and below the surface) and any permanent buildings or structures located on it. See also “Real Property.”
- This is the land itself and all things permanently attached to it.
- Such gifts will be counted at fair market value as determined by a qualified third-party appraiser, subject to IRS rules and regulations.
- Land or land and improvements. Statutory law may broaden a definition of real property to include, for example, mineral rights or machinery permanently attached to a building. …
- real property: property consisting of houses and land
- Real estate or immovable property is a legal term (in some jurisdictions) that encompasses land along with anything permanently affixed to the land, such as buildings. …
Land titles are deemed to be the ultimate proof of ownership of a parcel of land which is generally accepted the world over. From various land management and title insurance firms come a risk of fake ones which have managed to pass through all the screening and verification processes that are put in place to check for such fake titles. Even with the event of digitization, most land management authorities still rely on the paper forms which signifies ownership and any other fact that may have to do with the land in question. Read the rest of this entry »
In Las Vegas, a former real estate agent was found guilty for participation in a real estate fraud scheme. Linda Marie Knot who schemed people that netted more than $10 million was sentenced by Judge Kent J. Dawson to serve a total of 70 months in prison, An additional 5 years of supervised release plus a $3.9 million forfeiture. The scheme was simple but very effective. It happened 6 years ago and it involved 13 new homes. Kot caused material misstatements to be placed on loan applications, so she can make large commissions. Kot had three other co-conspirators, Hugo Coutelin, Jeff Thomas and Michael Perry. They all plead guilty for scheming. Coutelin and Perry were each sentenced to 15 months in prison. Thomas was sentenced to the time he had already served.
This incident should serve as warning to people who are in the process/considering to buy real estate. Scams are done everyday without being noticed so take extra precaution.
Mortgage fraud is simply when you lie in your real estate application, even if you think that the lie is completely harmless. Here are some common examples of mortgage fraud.
Undisclosed kickbacks. This is when you make a deal with the home seller asking him or her to give you money to do repairs and the lender doesn’t know about it because you failed to disclose it in the purchase contract.
Silent second mortgage. You can commit this mortgage fraud by borrowing a down payment from the seller in exchange for giving him or her an unrecorded second mortgage that the lender does not know about.
Claiming occupancy. Lenders usually give less favorable terms and higher interest rates to non-owner occupants because the lender has higher risk in the deal.
Inflating the purchase price. If you send a false contract with a higher sales price in the hopes of getting a higher appraisal, you are committing mortgage fraud.
Be a hero in the neighborhood: stop real estate fraud.
Stopping real estate fraud requires awareness, consciousness and guts to expose those you know to be fraudulent transactions.
A neighborhood association in North Minneapolis successfully abated the illegal practices of Jonathan Helgason, a licensed realtor and Thomas Balko, a licensed appraiser and owners of several companies.
The neighborhood association became suspicious of the sales conducted by said perpetrators. Soon enough, a member of the Minneappolis City Council reported the matter to federal, state and county investigators thus leading to the fall of the two real estate bad guys.
Be a hero too. Help stop real estate fraud. Don’t be afraid to report any shady deals to the authorities.
Real estate frauds will not be as rampant as they are today if people are more militant in combating these unlawful practices.
Sometimes, in our eagerness to get a nice deal, we tend to forget the simple and basic tenet of transacting business. Then of course, we tend to be over confident and over trusting we neglect our sensibilities. We give away confidential information. We even get careless with our documents. And worse, when we see we are halfway through the deal already, we entrust the rest of it to our agents or sellers. Then we become willing victims.
There are so many greedy, conniving people in this world that you always have to be extra careful so that you don’t get cheated. Specially when it comes to investments. Some people can be gullible and trustworthy and they end up in a tight spot. So, do not allow yourself to be a victim. Here are some things you need to think of before you give your full trust to a person.
Make sure that you know every single detail about the person and company you are dealing with. Do a lot of research! ASK EVERY QUESTION POSSIBLE. Do not be embarrassed to do this. Every customer has the right. Ask for an NBI clearance and General Information Sheet to check the credibility of the real estate company. Also, make sure you get your own lawyer in on it too. Everything has got to be written down and made legal.
There are a lot of religious communities in the world today. These local communities, that share ties of trust, belief and love, will usually go out of their way to help and cooperate with one another. Unfortunately, this trust is also used by unscrupulous individuals to con and steal from their fellow men. In real estate terms, it’s called affinity fraud, where someone uses their position in a religious community to build faith with investors. The people responsible for such scams are usually people who have a high-standing, or are looked up to and respected in their community. Affinity fraud is very devastating to the individual and to the whole community, oftentimes, because of the large number of investors, resulting in hundreds of millions of dollars scammed. This is especially tragic in light of the fact that most investors are regular workers, who may have lost not only their trust, but also their life-savings.
You’ve probably seen advertisements for foreclosure rescue specialists claiming that they can save your home and if it sounds too good to be true, it probably is. They might appear to be totally sympathetic, but they’re only there to get the title away from you. So-called foreclosure rescue specialists will ask you to sign a warranty deed, quitclaim deed, grant deed, or other sorts of property deeds while making promises that they will be unable to fulfill. Read the rest of this entry »
These days “fraudsters” are becoming more inventive. One type of real estate fraud is done by a supposedly “new” multi-level marketing company. In countries that are “havens” of networking companies,this is especially true and it works like a magnet for retirees, overseas workers, anybody who wants to have their own house and lot, housewives, practically anybody who wants to earn big, and those who have savings and are looking for a business to put their hard earned money into. These companies would attract people with a ready networking group, whose members are each willing to invest a considerable amount of money, telling them that for every recruit , they reach a certain sales level position in the company, and they will also earn from the cash investments of their recruit up to the nth degree PLUS the PLUM, which is their “dream home”. This is where fraud sets in. If the networker has not done his homework, meaning the company was not given a thorough background check as to its company history including its affiliates, reliability, credibility and capability to deliver products (actual houses that are already built and ready for occupancy), then they could be in for a shock and total disappointment not to mention the loss of their investment, because there is no actual house and lot that will be given.These companies usually develop tie ups with developers/building contractors to show prospective investors that they have the capability to build houses. However, the usual scenario is that the networking company uses the people’s investment to finance their other businesses, a method which creates an adverse effect. Eventually, a number of investors have fulfilled all the requirements for them to be entitled to their “dream home” but it (the house) can’t be built and given to those entitled to it yet because there is actually no money that can be used to do so. The recruit’s dream home remained just that – a dream!