solicitor may have taken 10k less from us, but no solicitor does that without illegal reason hes saying hes charged us or dealt the house at 10k less but its all looking like fraud day by day. dad said its under the table money. whats this mean
2007-12-26 11:00:23 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
money that is paid under the table is paid secretly, usually because it is illegal
2007-12-26 11:21:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
There are a number of ways the term "under the table money" is used. One of them is frequently used to defraud a lender by the buyer paying a certain amount for a property and the seller giving the buyer some of it back without anyone else knowing about it. The lender would lend on the higher amount than was actually paid.
Another way would be to defraud the property tax collectors by the contract having a lower amount than the buyer agrees to pay. The additional payment is made under the table so no one else sees it.
Another way is to cheat someone that is putting up an equal sum for a property as you are per a contract and then the seller giving you part of your money back because he is actually selling for less.
By now I think you get the idea.
Take a look at the free report foreclosures and other real estate matters on the site at http://profitinforeclosures.com
2007-12-26 11:23:29 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I have 22 years in the mortgage business and I have to say that your question/statement above is very confusing. Is there any way you can explain it better?
Under the table money means there is more to the transaction that what is disclosed, and yes, it is illegal.
2007-12-26 11:36:31 · answer #3 · answered by godsgrace1976 1 · 0⤊ 0⤋
Under the table means covert, not out in the open. In other words, it's probably illegal.
2007-12-26 12:48:57 · answer #4 · answered by Debdeb 7 · 0⤊ 0⤋
under the table is money that IS illegaly done so that it doesnt hve to be hown on income tax and if it is somehow found out you can be proecuted for fraud.also there are alot of scammers out there and when the things are done "under the table" you have no paper trail and no wy to prosecute him for ripping you off because if you admit to doing under the table deals as your defense, you will go to jail.
2007-12-26 11:06:25 · answer #5 · answered by tigercub1 5 · 1⤊ 0⤋
under the table money probably refers to illegal transaction of money
2007-12-26 11:04:31 · answer #6 · answered by Anonymous · 0⤊ 0⤋
It means, him giving you the money illegally.
2007-12-26 11:07:52 · answer #7 · answered by Hanna 6 · 0⤊ 0⤋
It basicly meaning cheating someone for their money when they dont know it
2007-12-26 11:03:57 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I want to ask the same question as the op.
2016-08-26 14:07:33 · answer #9 · answered by ? 4 · 0⤊ 0⤋
it means the government doesn't know about it. there is no taxes, or all that crap.
2007-12-26 11:04:23 · answer #10 · answered by Anonymous · 1⤊ 0⤋