Protecting Elderly Homeowners from Title Fraud

Deed theft, also known as title fraud, is a serious problem that can have devastating effects on homeowners. It involves criminals stealing your property by forging documents to transfer ownership without your knowledge. This guide will help you understand how to spot potential scams and take steps to protect yourself from becoming a victim. What is Deed Theft? Deed theft occurs when someone illegally transfers the ownership of your property to themselves or another party. This often involves forging your signature and creating fake documents to make the transfer appear legitimate. The thief then records these documents with the local government, making it look like they own your property. How to Identify Deed Theft Scams Recognizing the signs of deed theft early can help you prevent it. Here are some red flags to watch for: 1. Unexpected Mail: If you receive mail addressed to someone else at your home, especially from banks or government agencies, it could indicate that someone has fraudulently claimed your property. 2. Unfamiliar Names on Your Property Records: Regularly check your property records online or at your local records office. If you see any names other than yours, it’s a major warning sign. 3. Bills for Services You Didn’t Order: Receiving bills for utilities, repairs, or other services that you didn’t request can be a sign that someone else is trying to use your property. 4. Threatening Letters from Banks or Lenders: If you receive letters about unpaid loans or mortgages that you didn’t take out, it could mean that a fraudster has taken out a loan against your property. 5. Changes to Your Property’s Mailing Address: If you notice that the mailing address for your property has been changed without your approval, it could be a sign of fraud. How to Avoid Deed Theft Scams Preventing deed theft involves being proactive and taking steps to secure your property. Here are practical tips to help you avoid becoming a victim: 1. Monitor Your Property Records: Regularly check your property records to ensure that no unauthorized changes have been made. Many counties offer online access to these records, making it easy to keep an eye on your property. 2. Secure Your Personal Information: Protect your personal information by shredding documents before disposing of them, using strong passwords for online accounts, and being cautious about sharing information on social media. 3. Sign Up for Title Monitoring Services: Consider enrolling in a title monitoring service, like Padlock Title. These services keep an eye on your property records and alert you to any suspicious activity. 4. Use a P.O. Box for Mail: Using a P.O. Box for important mail can prevent thieves from intercepting your mail and using it to steal your identity. 5. Be Cautious with Unoccupied Properties: If you own a second home, vacation property, or rental, make sure it is regularly checked. Have a trusted friend or neighbor keep an eye on it and pick up any mail. 6. Report Suspicious Activity: If you notice any signs of deed theft, report it to the authorities immediately. Contact your local property records office, the police, and your lender if necessary. Steps to Take if You Suspect Deed Theft If you think you might be a victim of deed theft, it’s important to act quickly. Here are the steps you should take: 1. Contact Your Local Property Records Office: Notify them of the suspected fraud and ask for a copy of any documents filed under your property. They can provide you with information on recent changes to your property’s title. 2. Hire a Real Estate Attorney: An attorney with experience in real estate law can help you navigate the legal process of proving fraud and restoring your property rights. 3. File a Police Report: Report the fraud to your local law enforcement agency. They can investigate the crime and help you take legal action against the perpetrator. 4. Notify Your Lender: If a fraudulent loan has been taken out against your property, inform your lender immediately. They can help stop further financial damage. 5. Check Your Credit Report: Review your credit report for any unauthorized loans or accounts opened in your name. You can get a free credit report from each of the three major credit bureaus once a year. Protecting Yourself in the Future Preventing deed theft is an ongoing effort. Here are some additional steps you can take to keep your property safe: 1. Educate Yourself and Stay Informed: Stay updated on the latest tactics used by fraudsters and learn about new ways to protect yourself. Knowledge is your first line of defense. 2. Keep Important Documents Secure: Store property deeds, mortgage documents, and other important papers in a safe place. Consider using a safe deposit box for added security. 3. Use Strong Passwords and Update Them Regularly: Protect your online accounts with strong, unique passwords and update them regularly. Avoid using easily guessed information like birthdays or common words. 4. Set Up Alerts on Your Bank Accounts: Many banks offer alert services that notify you of suspicious activity on your accounts. Set these up to stay informed about any unauthorized transactions. 5. Stay Vigilant: Regularly review your property records, credit reports, and bank statements for any signs of fraud. The sooner you spot something suspicious, the quicker you can act. Padlock Title Protection Deed theft is a serious crime that can have lasting impacts on homeowners. By staying informed and taking proactive steps to protect your property, you can reduce the risk of becoming a victim. Regularly monitor your property records, secure your personal information, and consider using a title monitoring service like Padlock Title. If you suspect fraud, act quickly by contacting the proper authorities and seeking legal assistance. Protecting your home is an ongoing effort, but with vigilance and the right tools, you can keep your property safe from deed theft.