Florida is not immune to title fraud, and it has spread rapidly throughout the state. In 2018, one group of individuals stole 44 homes valued at $12 million. These thieves targeted distressed homes and used the title fraud as a cover for stealing more homes. Property Appraiser Marty Kiar came up with a free program called Owner Alert to prevent such fraud. The program alerts property owners of title problems, and requires a simple online registration.
Home title fraud happens when a criminal scours electronic records for a home that has equity, forges the owner's signature on the deed, and files a fraudulent bill of sale with the county recorder. The criminal then disappears, leaving the homeowner with the bill of sale. Unfortunately, most victims of title theft don't discover the scam until their home is foreclosed on. This can cost them their home equity, and even their home.
If you suspect that you have been a victim of title fraud, a Folsom real estate lawyer should review your options. If you were ripped off, you may be able to file a complaint with your state insurance department. You may also want to contact your state attorney general's office or local fraud bureau. Once you find a company that has committed title fraud, contact them to file a complaint. Then, the attorney general's office will investigate the case.
Another type of title fraud involves the illegal transfer of ownership of property. For example, a real estate broker may misrepresent the ownership of a property in order to secure a mortgage loan. In these instances, the title fraud is done by using a deceitful deed. As a result, the new owner may be able to reclaim ownership of the property. The Bukh Law Firm will aggressively defend your rights.
There are also several types of title fraud insurance. You can choose to have a title lock insurance policy or get a home title monitoring program. A home title lock insurance program alerts you whenever a change in the ownership of a property occurs. The program may also alert you to identity theft or title fraud. Even though these products talk about reclaiming ownership of a home, you can't prove it with such programs. A title lock insurance program may be helpful if you are concerned about the safety of your family.
Fraudsters often use phishing emails to obtain sensitive information from their victims. Often, these emails ask for money or personal information. While the scam is not very common, the financial loss a victim can suffer can be enormous. In many cases, the scammer can get away with it, stealing over $300,000 in the process. Despite the fact that it's an increasingly common crime, the criminals who commit title fraud rarely get caught. It's possible that your family is a victim of such fraud.
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