Your home's title and mortgage are stored and available online. Thieves use this information to transfer you off your home's title. Once they have the paperwork forged, it's just a quick trip to the county recorder's office to file the "updated" paperwork. Also, with the convenience of being online, many offices allow paperwork to be digitally transmitted...no need to leave their keyboard!
Once filed, the majority of County Recorder’s offices assume that the paperwork is genuine and the previous property owner is informed. Unfortunately, there is no consistent system to authenticate the filed paperwork.
Now thieves take out massive loans using your home's equity. You wont know until you get late payment notices.
Protect Your Property from Fraudulent, Mistaken, or Otherwise Illegitimate Filings.
Over 50 million documents are recorded per year in the USA, con artists can easily file a document against your property. By simply recording a document there can be major consequences to your home value, even your property ownership.
Grant Deed/Warranty Deed
Definition: Used in some states for the sale or transfer of real property from one person or entity to another person or entity. Must be notarized and signed by both parties.
Scenario: Scammer forges and records new deed becoming the new owner, takes out a large loan on the property, doesn’t make payments on the loan sending your property into foreclosure.
Title Lock: Owner would be notified that the name on the Grant Deed/Warranty Deed had been changed and stop the scammer before the loan is obtained.
Definition: Document of conveyance of real property that passes any title, claim, or interest that the grantor has in the premises but does not make any representations as to the validity of such title.
Scenario: Scammer forges a Quitclaim Deed making himself the new property owner and sells or borrows against the property.
Title Lock: Owner would be notified that the Quitclaim Deed had been filed. In many cases Title Lock can help prevent the sale of or borrowing against the property.
Definition: The holding of an estate or property jointly by two or more parties, the share of each passing to the other or others upon death.
Scenario: A caretaker (could be anyone though) changes the deed adding themselves as a Joint Tenancy. After the death, scammer files an Affidavit of Death of Joint Tenant. They are now the sole owner of the home.
Title Lock: Find out if you or your family is already a victim. Title Lock can tell if your family's property has become the target of a Joint Tenancy scam.