The widespread availability of searchable land records, advanced internet tools, and the heavy use of electronic communication have made “title theft” a growing threat. This type of property fraud can leave unsuspecting homeowners devastated, as seen in the case of a South Carolina couple who recently lost their retirement property. Criminals used forged documents and stolen identities to sell their land without their knowledge, wiring the funds overseas. By the time the couple discovered the crime, another home was already under construction on their property.
This crime often combines identity theft and mortgage fraud, enabling criminals to manipulate public records, forge documents, and execute fraudulent sales. While it’s unsettling to think this could happen, there are steps you can take to protect yourself.
Protect Your Personal Information
- Freeze Your Credit: Contact the major credit bureaus to freeze your credit to prevent anyone from opening new accounts or making changes without your permission.
- Monitor Your Credit Report: Regularly review your credit reports for unusual activity, such as unfamiliar accounts, unexpected credit inquiries, or changes in your personal information like addresses or names.
- Secure Documents: Safeguard sensitive paperwork like passports, social security cards, deeds, and tax filings.
Monitor Your Property Records
- Review Public Records Regularly: Periodically check online property databases to ensure your records are accurate and unchanged.
- Sign Up for Property Fraud Alerts: Enroll in free county fraud notifications that notify you of changes to public records linked to your name. Massachusetts residents can sign up at cns.masslandrecords.com.
Strengthen Transaction Security
- Use Title Insurance: When buying property, secure owner’s title insurance to protect against claims like fraudulent sales or liens.
- Verify Buyer and Seller Information: Work with trusted, licensed real estate agents and attorneys to vet parties involved in transactions.
- Beware of Suspicious Offers: Be cautious about low-ball offers or rushed sales that bypass due diligence.
By staying vigilant and taking proactive measures, you can significantly reduce the risk of property fraud. However, if you stop receiving property tax bills or notice unauthorized activity, contact your local tax assessor’s office, and report any discrepancies to the registry of deeds, law enforcement, or your state attorney general’s office.
