Nowadays, there is no shortage of crooks out there trying to steal money through fraud and deception. We hear about it all the time, but does it extend to property? Can someone steal your property with a fake deed?
How Does Theft Through Fake Deeds Work?
Bad faith actors can log onto a land records website and grab a legal description of property for a small price. This means that they can forge the deed document with some simple editing skills. Signatures of property owners can also be sourced from any records that are publicly available, and the thieves can easily mimic or copy this signature.
With the signed fake deed in hand, they are now able to record the transaction of the sale onto the land records without the original owners of the property finding out. It could involve the help of an attorney as well, if they happen to be a little removed from morality. Teams of fraudsters can definitely create havoc.
Do You Have Protection?
If you’re the real owner of a property, would you still be protected if your property was taken through fraud? This is undoubtedly the question that weighs most when something like this pops up.
The answer is yes, you are protected, but the process of proving that the transaction was fraudulent and reversing it is quite difficult. The property is still yours because the deeds do not have your real signature on them. Fraudsters can also be prosecuted for their crimes, and an attorney can help you sort the situation out.
However, again, it is difficult and costly and can be very tricky to navigate through.
Is Theft Through Fake Deeds a Concern?
As scary as it sounds, the good news is that it’s not actually a very likely threat to many homeowners because the process involved is so complicated and difficult. However, it’s not impossible – it has happened before, and it continues to happen, which makes it a concern.
Depending on your location, you may be able to get further protection because of witness requirements to deed signing. In any case, being aware of the risk means you can better protect yourself against it.
How to Protect Yourself Against Fake Deed Fraud?
Title insurance is a way to protect yourself against the issue. With title insurance, you don’t get the typical types of insurance, but a service that monitors your deed and lets you know if all is well at intervals. If there’s any suspicious activity, you will be updated, but there is usually no resolution provided and you would have to find an attorney to handle your case on your own.
If you’re looking for an Probate lawyer Brooklyn who can help you navigate through tricky and scary topics like fake deed fraud, we can help! Visit our website to learn more about Real Property Law firm NYC
Ledwidge & Associates
