dual contracts real estate

(1) dual contracts shall mean two written contracts entered into between identical contracting persons in identical capacities concerning the same parcel of real property, one of which states the true and actual purchase price and one of which states a purchase price in excess of the true and actual purchase price and is used as an inducement to make a loan commitment on such real property in reliance upon the stated inflated value; and (2) fraudulent instrument shall mean any paper, document, or other form in writing that is intentionally used as subterfuge or device to induce the making of a loan or the extension of credit as a part of a transaction whereby either the title to real property is transferred or valuable improvements are placed on real property in this state, whether for the benefit of the inducer or another.

b.  a fraudulent instrument is any paper, document or other form in writing that is intentionally used as a subterfuge or device to induce the making of a loan or the extension of credit as a part of a transaction whereby either the title to real property is transferred or valuable improvements are placed on real property in this state, whether for the benefit of the inducer or another.

c.  no person, firm or corporation, or any agent or employee of any such firm or corporation shall, with intent to defraud: (2)  substitute one instrument in writing for another and by such means cause the making of a loan or the extension of credit, with respect to transactions whereby either the title to real property is transferred or valuable improvements are placed on real property in this state, whether for the benefit of the inducer or another; (3)  induce by any fraudulent instrument in writing the making of a loan or the extension of credit as a part of a transaction whereby either the title to real property is transferred or valuable improvements are placed on real property in this state, whether for the benefit of the inducer or another. for the second and all following violations the penalty shall be a fine of not less than one thousand dollars nor more than five thousand dollars.

illegal practice of having two contracts for the same transaction. one contract may be used as a subterfuge to achieve the second contract. need help from a illegal or unethical practice of providing two different contracts for the same transaction. the one for the larger amount is used to apply for a loan, while (1) dual contracts shall mean two written contracts entered into between identical contracting persons in identical capacities concerning the same parcel of, dual contracting in colorado real estate, dual contract sma, dual contract sma, dual contract real estate definition, dual disposition.

this is an illegal or unethical practice of providing two different contracts for the same transaction. most often, the contract for larger amount is used to a. as used in this part the term “dual contracts” means two written contracts (1) make or issue a dual contract for the purchase of real property, or. it is a class 3 misdemeanor for any person to knowingly make, issue, deliver, or receive dual contracts for the purchase or sale of real property., unconscionable contract, bilateral contract, voidable contract, house under contract meaning, wholesale real estate contract.

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