Search results for: “deed fraud”
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Quitclaim Deed Fraud Spikes, Prompting Boston FBI Action and a New Law in Maine
In the real estate world, people continue to talk about an alert published by the Boston Division of the Federal Bureau of Investigation. Its April alert flagged a spike in the improper use of quitclaim deeds. Why the spike? Certainly more boomers are leaving their homes, making theft easier to carry out. And perhaps more…
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Opinion: Who Really Wins? New York’s Deed Fraud Bill Protects Title Insurers, Not Homeowners
New York lawmakers have introduced Senate Bill 7732 as a response to the growing crisis of deed fraud — a real and rising threat to property owners across the country. On the surface, the bill looks like reform. But a closer look reveals what it really is: a convenient liability shield for title insurers.
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Modern Inconveniences: Remote Transactions and Deed Fraud
A CBS news outlet says online swindlers are “overwhelming county deed offices” throughout the state of Maine. Worse, it’s left targeted title owners scrambling to recover their properties. Many are forced to take their cases to the courts for quiet title actions. A senior FBI agent in Maine, Christopher Peavey, spoke with CBS Channel 13…
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Real Estate Law Enforcement: Catching Up to Deed Fraudsters
Some years back, the state of Georgia, under the Georgia Code (GA § 44-2-43), made stealing houses by recording fraudulent or counterfeit real estate deeds a felony, incurring 1-10 years in prison. Witnesses who help perpetrate Georgia deed fraud are subject to the same potential penalties. Georgia is not alone in its resolve. The FBI…
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First American Title Presents “Order Insights”: Real-Time Fraud Alerts for Deed Transfers
Fraudsters never rest. So it’s good to know that one of the major U.S. title companies is fortifying its security system to protect deed transactions from bad actors. First American Title, the well-known title insurance and settlement services firm, has introduced Order Insights. The company calls it a real-time, transaction-based fraud alert system. All agents…
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Bad Deeds Shouldn’t Go Unpunished: Fraud Updates From All Over
A quitclaim deed is a useful tool, when created by the right hands and transferred for the right reasons. But in the hands of forgers and swindlers, these instruments harm people. Especially seniors, the families of deceased homeowners, and people who don’t live in their homes. But actually, anyone could be caught up in a…
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New Fraud Fighter: The Good DEED Act
Deed fraud infects cities and counties all over the United States. This kind of fraud involves forging a deed, impersonating someone who holds a title to a home, or falsely authorizing a transfer of real estate ownership. It’s essentially a home-stealing scheme. Now, lawmakers are taking action to make life harder for deed thieves. In…
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Viral Fraud: More Deed Crime Targets in the Coronavirus Economy
Well-known schemes are being repackaged for the time of COVID-19. Here’s an overview of how real estate fraudsters are approaching their targets — and how to avoid becoming one. Scams flare up during natural disasters and financial crises, so we can expect a spike in deed fraud in 2020 and beyond. Battered by the pandemic,…
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The Quitclaim Deed and Fraudulent Real Estate Transactions
Quitclaim deeds show up commonly in fraudulent real estate transactions. This type of deed fraud can impact elderly people, buyers purchasing real estate from strangers without warranty, renters who are paying someone who is not a legitimate owner, and anyone involved who might buy, sell, or own property. Here, we examine how it happens and…
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Ohio Cancer Survivor Recovers Home After Quitclaim Fraud
A Dayton homeowner finally got her deed back. The title to Robin M’s home was swiped out from under her while she was undergoing cancer treatments two years ago. Last year, she proved that her property was taken from her by deed theft. The Common Pleas Court of Montgomery County, Ohio determined that her Dayton…
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Setting the Example: Bergen County Migrates 370,000 NJ Deeds to the Blockchain
Bergen County, New Jersey has jumped on the blockchain train. The county is digitizing all of its property records. The County Clerk has inked a five-year contract with Balcony Technology Group, a blockchain-focused records company based in New Jersey. Once they’re digitized, 370,000 property deeds (representing $240 billion in property value) will migrate to…
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Will Pennsylvania Criminalize Deed Theft?
Deed fraud, or deed theft, is the improper transfer of property ownership by deceit. In most states, it’s a very rare incident. But when it happens, it’s devastating. State criminal laws do generally deal with theft, forgery, and fraud. And yet, many don’t have a specific law for deed theft. In Pennsylvania, Representatives Christopher…
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Say It Ain’t So: A Pennsylvania Notary, Stealing Deeds?
The point of having a deed notarized is to ensure its legitimacy. Or so most people would think. A notary public is appointed by the state to witness the signing of legally significant papers, including deeds used to transfer home properties. Honesty and integrity are key traits for anyone performing this role. But recently,…
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Quitclaim Deeds and Senior Homeowners: Convenience with Caution
When someone wants to know which kind of document makes it easy to pass real estate ownership, the quitclaim deed comes to mind. Convenient? You bet. And quite often, this convenient document is the senior’s deed of choice. This is because so many seniors decide, at some point in their lives, to transfer their homeownership…
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Ghoulish: Who Steals Deeds From the Dead?
In Houston, stealing deeds from dead people is a thing. Investigators are looking into a deed fraud scheme carried out by three people. These people allegedly laundered deeds of dead homeowners through their limited liability companies. Then they sold the homes to unsuspecting buyers. They’ve pulled in hundreds of thousands of dollars. “This is no…
