Title fraud exists and has unfortunately happened in sunny South Florida. As a buyer, homeowner and seller, it is important to know what to be aware of in regards to title fraud, and to better understand ways in which this nightmare can be spotted and avoided.
Real estate title fraud happens when an individual fraudulently interferes with the ownership or the title of a property. There are ways for homebuyers in Florida to steer clear of this, however it has been known to occur due to negligent handling or management of personal details and information, as well as misguidance by the wrong title company.
Choosing the right title company is key!
It is helpful for buyers to understand the step-by-step process of becoming homeowners in Florida and to be aware of title fraud. To understand more about this procedure, consult with an expert Real Estate Attorney such as, Kadoch Law Group. This team of experienced Real Estate Attorney’s in Florida will help to prepare you against title fraud and efficiently guide you all the way to closing day, ensuring you know what to expect throughout the entire process.
After a home is purchased, the buyer has also bought the title, which are the rights to the purchased property. The title company chosen has the duty to register the buyer as the official owner of the home. Title fraud can occur when the personal data and documents provided are collected and then used as a type of identity theft, where someone uses this information to impersonate you. For example, this can happen when false identification is used to forge documents.
A criminal hacker can use personal details to transfer someone else’s property into their name, and/or to secure a new mortgage and disappear, without completing any payments. If this occurs, the bank may think you are the one not making your mortgage payments, and this can result in the beginning of a foreclosure process.
To protect yourself from this horror story, ensure that all of your personal details remain confidential. This is especially necessary when sending or receiving phone calls and e-mails from unknown people, and when using unsecure sites on the Internet. In addition to this, it is also beneficial to keep any sensitive details (e.g. social security card) in a secure place. It is highly recommended that you do not carry all of your important IDs in your wallet. To be extra careful, checking your credit reports every few months (three-six months) can also help you to detect any fraudulent usage.
Why settle for less when you can get an experienced attorney on your team? If you are looking to buy a house, are having problems with your tenant, or are simply trying to find someone to navigate your contracts and simplify the buying and selling process for you overall, give us a call and we will provide the best possible service to you as we do with all of our clients!