By Kathy Stokes, AARP Fraud Watch Network™
For many Americans, their home is their greatest asset. Deed fraud, also known as title theft, occurs when someone uses stolen personal information and forged documents to illegally transfer ownership of a property. Criminals may then attempt to sell the property and disappear with the proceeds.
How It Works
- Criminals combine information from public records with stolen personal data to forge property documents.
- Vacant land, second homes, vacation properties, and homes with significant equity can be attractive targets.
- A fraudulent deed may be used with a stolen identity to attempt to sell the property.
Protect Yourself
- Check whether your state or county offers free property-record alerts that notify you when documents involving your property are filed.
- If you own vacant or unoccupied property, inspect it regularly or ask someone nearby to watch for unexpected activity.
- Review your title insurance coverage and be cautious of services marketed as “title lock” insurance.
- If you discover deed fraud, contact law enforcement, your county recorder’s office, and your title insurance company immediately.
Knowledge gives you power over scams. AARP Fraud Watch Network™ provides information and resources to help consumers recognize and avoid fraud.
Read more articles from VOM Magazine here: https://www.veteransoutreachministries.org/vom-magazine/
