Protecting Your Home: Understanding And Preventing Title Fraud In Florida

Are you considering a move to sunny Florida? Well, in this blog I will be discussing a topic that might not be on your radar but should be-title fraud. You might be wondering why you should be concerned about title fraud. Unfortunately, it happens more frequently than you think. Imagine discovering that your home has been stolen from you. It might seem like a far-fetched scenario, but it occurs more than you'd expect. So, let's delve into, why it happens, and most importantly, what you can do to protect yourself.

Let me share a shocking real-life example with you: there was a married couple in Florida. One of the wives worked in a hospital district, while the other was involved in the real estate industry. The wife from the hospital district would gather confidential information, including Social Security numbers, from people who had passed away. She would then pass this information on to her spouse in the real estate industry. This real estate savvy wife would check if the deceased individuals had property in Broward County, whether there were heirs, or if the property were ownerless. They would then file fake deeds on these properties, extort money from unsuspecting victims, mortgage the properties, and even rent them out, raking in profits amounting to millions of dollars.

Fortunately, thanks to the collaborative efforts of local authorities like the Broward Sheriff's Office, Gregory Tony, the state Attorney’s office, and the US Attorney’s office, justice was served, and both perpetrators are now serving time in prison.

So, let's start with how title fraud occurs. Unfortunately, it's relatively easy for fraudsters to pull it off. They typically target vulnerable individuals, such as seniors and those with low income. These scammers create fraudulent documents and physically submit them to the county clerk's office. Once these fake documents are filed, the ownership of the property is transferred to the scam artists with no actual monetary transaction or involvement of third parties.

In some cases, title fraudsters go to extreme lengths, filing fraudulent lawsuits to claim ownership of the properties and impersonating property owners or banks in court proceedings. This crime can result in substantial financial losses and a tremendous emotional toll on victims.

Why has title fraud persisted for so long?  Firstly, it's been relatively easy to execute. Second, the perpetrators often went undetected and unpunished. They stole properties without facing legal consequences, emboldening them to continue their criminal activities.

Thankfully, Broward County has seen significant steps to combat title fraud. Marty Kiar, the tax appraiser, has partnered with law enforcement, lawyers, and attorneys to bring these criminals to justice. As a result, they've worked on 189 cases, with 52 currently active cases, resulting in 17 state and federal arrests, numerous convictions, and the prevention of millions of dollars in fraudulent property transfers.

So, what can you do to prevent yourself as a homeowner? One effective measure is to sign up for e-mail and text alerts through the Broward County Tax Appraisers office. This service will notify you if there's any change in ownership for your property. It's a simple yet powerful way to stay informed and act promptly if any suspicious activity occurs.

In conclusion, while tile fraud is a serious issue, there are steps you can take to safeguard your home and investments. By staying informed and utilizing available resources, you can reduce the risk of falling victim to this type of crime.