It’s a sad truth that criminals can easily gain access to your home title and potentially cause devastating financial losses. Title theft, deed fraud, and home title monitoring are all important topics for homeowners, buyers, sellers, title insurance agents, and real estate agents alike.
Title theft occurs when a criminal removes you from your home’s title by forging their name on a document and refiling it with the county records office. This process is relatively simple for them to complete but could be financially devastating for any homeowner who falls victim to the scheme.
Deed fraud is another form of identity theft where criminals use fake names or stolen identities in order to take out loans or refinance mortgages without the homeowner’s knowledge or consent. They may also sell the property without permission as well as commit other forms of financial fraud such as credit card scams or bank account takeovers.
Home title monitoring is an important step in protecting yourself against these types of crimes. It involves regularly checking public records to ensure that no changes have been made to your home’s title without your knowledge or consent. You should also consider setting up alerts so that you will be notified if any changes occur on your property record in case something does happen while you’re away from home or unable to check it yourself.
Finally, it’s always best practice to keep copies of all documents related to your property ownership including deeds and titles in secure locations such as safety deposit boxes at banks just in case they ever become necessary during legal proceedings involving disputes over ownership rights. Additionally, make sure that anyone involved with buying, selling, or refinancing homes understands what steps need taken when transferring ownership rights between parties so there are no surprises down the line!
Home title theft and deed fraud are serious issues that can have devastating consequences for homeowners. Fortunately, there are steps you can take to protect yourself from these crimes.
Whether you are a first-time homebuyer or a seasoned property owner, this information about home title theft will provide you with valuable insights into how to protect your assets and minimize the risk of title theft.
Real estate fraud is a serious issue that can have devastating consequences for homeowners, home buyers, and title insurance agents. Homeowners should be aware of the different types of real estate fraud schemes so they can protect themselves from becoming victims.
