Congratulations on paying off your house! It’s an important financial milestone. However, it’s essential to remain vigilant about protecting your property from various forms of fraud, including home title theft. Title theft, also known as deed fraud or property title fraud, occurs when someone fraudulently transfers ownership of your property to themselves or another party.
Here are some steps you can take to protect yourself from title theft:
Monitor Your Title:
Regularly review your property’s title and deed records. You can obtain a copy of your property’s title from your local county clerk’s office or through an online title search service. Look for any suspicious or unauthorized changes in ownership or liens against your property.
Title Insurance:
Consider purchasing title insurance if you haven’t already. Title insurance can provide financial protection in case someone fraudulently tries to take ownership of your property.
Secure Personal Information:
Protect your personal and financial information, including documents related to your property, such as the deed, mortgage papers, and tax records. Store these documents in a secure location, such as a safe or a secure filing cabinet.
Use Strong Passwords:
If you use online services for property-related matters, ensure you have strong, unique passwords for your accounts. Enable two-factor authentication wherever possible.
Be Wary of Unsolicited Offers:
Be cautious about unsolicited offers or letters related to your property. Scammers may send fake notices or offers to try to trick you into signing over your property.
Verify Requests:
Before taking any action related to your property, especially if it involves changes to ownership or financial transactions, verify the legitimacy of the request. Contact your local government office or a trusted legal professional to confirm the request’s authenticity.
Stay Informed:
Stay informed about common scams and fraud tactics. Knowledge is your best defense against title theft and other forms of fraud.
Report Suspicious Activity:
If you suspect any fraudulent activity related to your property, report it immediately to your local law enforcement, your county clerk’s office, and your title insurance company if you have one.
TL;DR Title theft is a serious issue. Taking proactive steps to protect your property and staying vigilant can help prevent it from happening to you. If you have any concerns about the security of your property title, consider consulting with a real estate attorney or a title insurance professional for further guidance.