Fraud

Fraud is intentional deception to secure unfair or unlawful gain in a real estate transaction, making contracts voidable and potentially resulting in criminal liability.

Fraud TypeDescription
MisrepresentationFalse statements of material fact
ConcealmentHiding known defects or issues
Identity fraudImpersonating owner or buyer
Document forgeryFake title deeds or approvals
Phantom salesSelling non-existent property
Legal ConsequencesPenalty
Contract voidabilityVictim can rescind
Criminal prosecutionImprisonment possible
Financial penaltiesFines imposed
Damages awardCompensation to victim
Professional sanctionsLicense revocation


Related Terms

Material FactsDisclosureContract VoidabilityDue Diligence Authentication

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