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The incident is just the latest example of what the FBI says is a growing and troubling new form of fraud affecting unsuspecting landowners nationwide. When a man claiming to own a vacant Randolph ...
For one thing, if the targeted property is vacant land, it can be months — or even years — before the real owner even discovers the fraud. Also, this type of scam is not a separate category in ...
In 2022, the FBI received 11,727 real estate-related complaints with losses of over $396 million, an 86% increase versus 2020 levels.
This technique was used notably by the Gulf American Land Corporation in the communities of Cape Coral and Golden Gate Estates, Florida (for which they were found guilty of fraud by the Florida Land Sales Board [7]). It was a form of confidence trick. The new owners came to find their land was underwater in a swamp or in some other way ...
The Interstate Land Sales Full Disclosure Act of 1968 (ILSFDA or ILSA or "Act") was an act of Congress passed in 1968 to facilitate regulation of interstate land sales, to protect consumers from fraud and abuse in the sale or lease of land.
Blighted land in Philadelphia. Land banking is the practice of aggregating parcels of land for future sale or development.. While in many countries land banking may refer to various private real estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities tasked with managing an inventory of surplus land.
It's a dangerous time to be a real estate investor scouting out parcels of land. The United States Secret Service Cybercrime Investigations division "has observed a sharp increase in reports of ...
Vacant possession refers to the typical condition in which a seller must hand over a property to a buyer upon completion, or a tenant must return the property to a landlord at the end of a lease. In simple terms, it means that the rightful person, such as a buyer or a landlord, can peacefully and fully utilize the property.