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A buyer of real estate who has no interest in owning what he/she buys. That is, if a developer wishes to buy up a large amount of land without attracting attention, he/she may hire dummies to purchase (with the developer's capital) on his/her behalf. The dummies in turn re-sell (or simply give) the properties to the developer.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


A straw man, as when a developer desires to purchase a number of properties in order to assemble them and build a shopping center but is afraid that owners will increase their asking prices if they know the true name of the buyer. Owners sell to the dummy, who then transfers to the developer.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
When you set up for a triple, throw both dummies to the spots you've already worked as memory retrieves.
Joan explains that they don't actually give the dummies to the piglets as it is feared they might choke on them.
Neath Port Talbot Flying Start speech and language therapist Deborah Douglas said: "Although dummies have their place as a comforter for very young babies, by the age of one the dummy should be gone.
Wines For Dummies caters to the beginner and novice wine-drinker and was developed to make wine experiences easier.
The cake dummies have numerous uses as an alternative to decorating a real cake and can be an inexpensive way of providing a cake shaped base or tiered cake.
"We need one male and two female full size shop dummies."
The Web site, part of a chain dealing in a popular range of guide books on various topics, has announced a contest the winner of which will (http://etips.dummies.com/contest.asp?sid=9SH5RP5KTNX7XBXNP95D&id=149) win one Surface for Windows RT and one copy each of the book Windows 8 for Dummies and Surface for Dummies.
Siri For Dummies provides tips and tricks on using Siri for iPhone 4S and Voice Dictation for iPhone 4S and the new iPad.
The data collected from Hybrid III dummies over the years have helped improve airbags, seat belts, and other vehicle-safety features.
A cottage industry has sprung up where coloured gems, plastic beads and magnets are added to dummies and bottles.