"luv" is a laid back version of the word love. This word doesn't exist and is usually a word used with friends. Commonly used for people who think it's cool to type like a monkey with a keyboard. You shouldn't use this word if you're using it towards your boyfriend, girlfriend, wife, husband, etc. when typing, because it doesn't show off how much you really love them.
If you truly love someone, stop being a dick and spell it correctly.
I broke up with Shane last weekend because he kept telling me he 'luved' me.
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