Register

Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

Flip

ub. Slang. 1. To buy and then immediately resell securities or real estate in an attempt to turn a profit. 2. To refinance consumer loans. 3. To turn state's evidence. flip mortgage. See MORTGAGE.

flip mortgage

A graduated-payment mortgage allowing the borrower to place all or some of the down payment in a savings account and to use the principal and interest to supplement lower mortgage payments in the loan's early years.

land flip

Real estate. A transaction in which a piece of property is purchased for one price and immediately sold, usu. to a fictitious entity, for a much higher price, to dupe a lender or later purchaser into thinking that the property is more valuable than it actually is.