Protect against deed fraud
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- เผยแพร่เมื่อ 26 ต.ค. 2016
- New companies are popping up to sell protection and monitoring services for land owners. They are warning against deed fraud. In this video Michelle explains what that is and how you can protect yourself.
If someone steals my home title and gets a loan against it...it would be the loan company that would be the one scammed not me...just because the loan company did not do a perfect identity check of the true ownership of the deed, title etc.
I figured you would have a cat on your lap when you turned around like from a James Bond movie 👍
Hi @NynthWorld Great idea!
@@FinelyRevealed Classic 👍
why would they allow this with out ID with people coming in. They should have two ID's.
greatly appreciative for this information
Thank you so much, I appreciate this information.
Thank you very much !
Nice Bond Villain chair turn!
Thanks :D
@@FinelyRevealed glad you have sense of humor 😁.
All kidding aside. Your video and wealth of information is greatly appreciated.
Thanks sharing your knowledge.
Thank you for this wonderful video. What role does the county assessor's office play in verifying the authenticity of the legal documents submitted to the county recorder's office?
Hi Calvin and thanks! The county officials where land records are recorded ( a clerk, register of deeds, recorder of deeds etc) are only checking their index of properties to match up the documents received and filed so that when they are asked to report on filings that they are reporting the correct items on the appropriate piece of property. They will check documents submitted for filing as to the form of the document- example cover sheets or margins etc but they are not concerned with the content. The assessor is generally charged with assessing and collecting tax and don't have any duties regarding documents filed. They will be sending tax notices etc as the filing party designates. Hope this helped!
verifying the ID of the person taking the documents to be filed?
Would someone have to keep paying for title insurance on a yearly basis, or is the title insurance paid only when the property is bought?
Hi @ScreamingDean Title insurance is purchased at the time the property is purchased - there are no other charges unless there are addenda or endorsements added later. If the title insurance is insuring draws on construction or wor then there may be fees charged in connection with that. For the standard purchased property it is a one time expense.
Thank You!!
Thanks for the information. Very interesting. Who or where do you buy title insurance from after you paid your property in full?
Thank you for watching and for the question Ana. Once purchased (usually part of your purchase of the property ) the title insurance covers your ownership until you sell the property or pass on and it goes to your decendants or heirs. If you did not buy title insurance at the beginning then just contact a title insurance company now- get a commitment and buy a policy.
Can you purchase Title Insurance after you've already bought the house? Also, do you have to go through the lender who carries the Note on your property?
Great question! Yes you can purchase title insurance after you bought the property if that was not part of your transaction. You do not need to involve your lender- but you might save money by using the same title company the lender used for its mortgage policy. So you could call the lender and ask for their loan policy number and the company who issued it.
Nice intro... i thought you were gonna turn around with a joint, hence the pot plant next to you 😂
Yes , i know that is not a pot plant🤯
Outstanding!!!!!
Thanks Lawrence!
Someone needs to ask Title Lock type companies what properties they have ever got back to the rightful owner or prevented from being stolen in the first place by collecting their monthly premium????
If you pay cash for the full price of the property or a home, is title insurance issued by the title company?
Hi @akaimon3 Yes, title insurance policies are available for purchase in this type of transaction. We will do a new video on the process.
Please talk about refreshing the policy because many of my properties I own and have owned for years prices have risen.
Personally I use trusts by holding properties in something other than my own name thank you for your time
The land we buy is masu.. field.
Is there a way to buy property and not let anyone have access to your title, such as paying cash or prohibiting any copy made of the title? Thus making it impossible for any type of crook to come tamper with the title.
HI @AbelMalcolm - it's not a huge problem and land records are public - check your credit regularly and get title insurance and you will be fine.
The deed is available online including your signature, etc. It is all managed as if we were living in the stone age where people used the online tools for honest purposes.
THANK YOU SOOO MUCH FOR SUCH AN EXTENSIVE WEALTH OF INFORMATION WITHOUT A FEE!
I’m almost certain your life is extremely blessed as a result…because the law of sowing and reaping is real…give and it shall be given.
Smiles, hugs, and gratitude♥️
Thank you and happy to help!
What happens if your title company goes out of business?
What you are probably referring to would be the title agent-= those are the local companies that process paperwork for the insurance companies. The title insurance companies would likely sell or merge but not go out of business. Good question though- will check the policies for any further information.
Hi. So I purchased this land to build a house. Iam about 60% done with the build and now got into an issue. One year ago I purchased the land and I just found out that the same seller had sold it to someone else. The first owner bought the same land two years ago and paid it cash and went with a tittle company to have it done right with no issues. I went with the same tittle company that the first owner used and I also bought the Tittle Insurance. Because the first owner purchased the land first they are entitled to the land and for me to get the land back now she’s asking for double the amount that she had purchased the land. She’s asking for double the amount because she feels that this is causing her emotional distress. Tittle insurance they are willing to pay me back for the full amount of the price that I paid for the land but they refuse to pay for what I have spent to build the house. So my question is who’s at fault the seller for committing fraud or the tittle company for not doing a proper research on the lot that it was clear to buy? Any help on this will be very appreciated it. I live in Texas so not sure how the laws will be here.
Thanks again.
Hi @Ram so sorry about this situation. Please consult an attorney in your area. The improvements on the land are considered part of the land- so your policy will need to be reviewed by an attorney before going further with the title company to be sure you do not forfeit any rights that you have. You should be made whole in this situation but you should get the advice of an attorney.
@@FinelyRevealed hi thank you for your advice. I did hired an attorney. Seems like it will be a little hard to get the tittle company to pay for any damages for the reason that there’s a law that protects the tittle insurance. Since it’s a case that it’s not common according to my attorney they can only pay whatever the cost was of the land. As far as any loss for materials that was used to build the house that won’t be covered. Doesn’t make sense to me since the Tittle
Company was also at fault for not doing the proper research on the tittle deed. I will have to get more information regarding the improvement of the land are considered part of the land. Thank you very much and for responding. 😊
@@ramsam8989 shouldn't the title insurance for the 1st buyer pay them?
If a property sold with a quitclaim deed .
Is there a way to get title insurance .
HI Campeche- good question! Yes you can get title insurance when property is transferred with a quit claim deed - just be prepared for additional documents that the title co will want to be signed.
I have title fraud I'm trying to figure out how I do this cheaply so they forged my dad's signature with her daughter notary and put in her name. I have all paperwork
HI @Vicki The easiest, cheapest and quickest way is to make a claim under the title insurance policy issued to your Dad when he bought the property.
Somebody recorded a UCC filing using my address as a debtor With the California Secretary of State how do I get into court to have this removed it’s a fraudulent filing I have home title lock what else can I do nobody understands what are UCC filing is
HI Melissa. The easiest thing to do is to contact the creditor and send them a letter demanding that the lien be immediately released. Their information is on the UCC-1 document.
What about if you paid cash
Hi @Maria you as the buyer should purchase title insurance. The lender's policy is to protect their lien. Your policy is to protect your ownership.
So, title insurance doesn't only covering the period through which the loan is funded? Your saying title insurance is for the entire life of the mrtgage loan... In my case 30 years.
Hi @Angie you understood correctly - the insurance is for the entire time the mortgage is outstanding when it insures the lender. When it insures the owner it is for the entire time the property is owned.
Okay, and if someone fraudulently takes out a mortgage on my house after the loan is funded? Thank You
The house insurance is holder with man my housdem... lawyer dorg carre
I thought turning your chair around was comical. So you normally are facing the back wall when not recording? Lol!!!
The man married buy house for two name but the man hold insurance...✍️
ARE deed fraud and title fraud the SAME or DIFFERENT?
HI @Miss Deb They can be the same - but not necessarily. Deed Fraud is someone either modifying a deed to add something - think forgery- like adding or changing a name. Title fraud can be a person representing just by stating so, that they own something when they do not. Deeds are used to transfer real estate. Title to real estate refers to the owner. However there are boat and car titles that show ownership. Hope that helps.
@@FinelyRevealed thanks!
Help
SON EMBEZZLED CASH AND LISTED AS JOINT TENSANTS HES RUNING FROM ME HAS NOT BEEN IN PICTUTR 4 YRS NOW I WAS CONSIDERING CALIF CODES TO SEVERE THEN PUT IN A TRUST THEN REMOVE OR QUITE TILE AS A CO OWNER OR DEED VOID THE LAW ISNT AFTER HIM I DONT WANT JAIL OR CAR OR CASH BACK JUST THE HOUSE NAME TO BE MINE AS SOLE OWNER IM GOIG TO LOOK INTO LIEN ON HIS SHARW AND VOID GIFT DEED RULES
Good video. Very informative... I would definitely consider changing your intro. Swinging around in the chair is not the best way to start. Simply facing the camera and starting your pitch is good enough. Are you an attorney? It looks like you are from the book shelves. If so,state that as it adds credibility to your video.... I almost canceled and went on to the next video but you spun around just in time and I stayed to watch. Glad I did.
Hi @Greg Thanks and welcome. Changes are underway - stay tuned.
the land records staff must be relying on the attorneys doing house sales to check people's ID? If the person has a fake ID and signs similar to the current owner signature on the deed then it seems they may be able to get away. Waiting for a missing property tax bill is way too late to find out you own nothing.
There are many services that people say are not needed like ID/credit protection and now deed checks, but try sorting out issues after many months they have happened.
If you catch things on the same day they happen there is no way for them to sell or get a loan before you can reach out to the land records staff to question something you did not authorize and also contact any bank that loans are applied against.
This kind of fraud would seem to be something that would involve more than just the person trying to take the title away.
D
I have 10 houses 9 of them are rentals. The only time I have a problem is when there vacant. When my houses are vacant I use "Google Alerts" to send an Email out once a day notifying me if the property in question is mentioned. I got an alert a few years back of a person that was advertising my house for rent for $800 a month all utilities paid and you would own it after 7 years. The rent rate at the time was $1,350 per month. I answered the ad and met the person trying to steal my house. I got the license plate of his car. He didn't have a key to the house and told me the owner was out of town. I didn't confront him in anyway, even though I owned the house. Law enforcement wouldn't do anything since money didn't exchange hands. I notified the Bank's private police ( I asked the thief where to deposit the money and he gave me his banking information) and the company that had the ad and they took care of it for me. I guess what I will do now is have a IFTTT script written and have the bots check once a day if there are any changes with the Appraisal district information and send me an Email if there are any changes.
Good work Kent. Make sure you have your title insurance policy - that is who would take care of any filing attempts. Most of this type just tries to take money. Thanks very much for sharing this.
What does “IFTTT” mean?