The FBI is sending an urgent warning to homeowners to beware of title theft, the latest of various moves fraudsters make in order to steal a property owner’s identity and sell their land out from under them. Land theft is on the rise, with the FBI saying scammers tend to prey on the elderly. They are more at risk because they are more likely to own vacant pieces of land that they’ve had for some time, and more likely to own homes without mortgages on them. In Maine, Massachusetts, New Hampshire and Rhode Island, 2,301 victims lost more than $61.5 million to title theft. Time is of the essence, so as soon as victims find out this has happened, they need to report it, ideally within 24 hours. That makes it easier for law enforcement to get the money back to the victims. The National Association of Realtors has offered tips to help real estate agents and homeowners avoid getting caught in this scam.
- • Avoid remote closings, if possible.
- • Ask for in-person identity checks.
- • Request copies of documents that only the property owner would have, including a copy of the most recent tax bill, utility bill, or survey when the property was purchased.
- • Send a certified letter to the address of record on the tax bill.
- • Look up the phone number by reverse search or through the phone carrier.
- • Call to verify the public notary and confirm that he/she attested to the documents.
- • Sign up for a notification alert at the registry of deeds, which will alert someone when a document is recorded for their property.
