Artificially increasing an undeveloped land parcel’s book value far over its fair market value . Fraudulent, illegal practice. Colluding buyers typically buy and sell the same property several times among its members. Each time the price increases. The group then sells the property, or get a loan to develop it, at an unrealistically high price. This robs its buyers or lenders of large sums when the property’s value sinks back to its true market value.
Black’s Law Online Dictionary
