Protecting your Identity: Safeguarding Against Title Theft

In our increasingly connected world, identity theft has become a prevalent issue affecting millions of individuals. While most people are familiar with credit card fraud or online scams, another form of identity theft that often goes unnoticed is title theft, also known as Deed Theft. Title theft occurs when a fraudster gains unauthorized access to your property’s title, allowing them to assume ownership and potentially wreak havoc on your financial and personal life. In 2021 there was more than $350 Million in damages with just over 11,500 occurances. In this blog post, I will shed light on the dangers of title theft and provide actionable tips to protect yourself from falling victim to this insidious crime.

1. Understanding Title Theft: The Silent Threat. Title theft occurs when a criminal steals your property’s title through various means, such as hacking into databases, forging documents, or exploiting vulnerabilities in the title transfer process. Once they gain control over your property’s title, they can fraudulently sell or mortgage the property, leaving you with the burden of proving your rightful ownership. It most prevently happens to elderly people or those who don’t have family or friends watching out for them.
2. Signs of Title Theft: Stay Vigilant. Detecting title theft can be challenging, but there are signs to watch out for. Stay vigilant and be on the lookout for these warning signals:

• • Unexplained Notices: If you receive unexpected mail or notifications regarding your property, such as tax bills or foreclosure notices, that you didn’t initiate, it could be a sign of title theft.
  • Missing Documents: Keep track of your property-related documents, including deeds, titles, and mortgage agreements. If any of these documents go missing or you notice alterations, it could indicate fraudulent activity.
  • Inaccurate Property Information: Regularly review property records and check for any discrepancies in ownership details or changes in property descriptions that you didn’t authorize.

3. Protecting Against Title Theft: Shield Your Property. Prevention is key when it comes to title theft. Take proactive measures to protect your property and mitigate the risk of falling victim to this crime:

• • Secure Important Documents: Keep physical copies of your property-related documents, such as deeds and titles, in a safe and secure location, such as a fireproof home safe or a bank safe deposit box. Additionally, store digital copies in password-protected and encrypted storage.
  • Monitor Property Records: Regularly review your property’s records, including public databases and county land records. Look for any unauthorized changes or suspicious activity and report it immediately to the appropriate authorities.
  • Work with Professionals: When buying or selling property, consult reputable real estate agents, attorneys, and title companies to ensure secure and legitimate transactions. Verify their credentials and conduct thorough research before engaging their services.
  • Consider Title Insurance: Title insurance can provide financial protection in the event of title theft or other related issues. It can cover legal expenses and help restore your rightful ownership.

4. Stay Informed: Educate Yourself and Spread Awareness Keep yourself informed about the latest scams and fraud techniques related to title theft. Stay updated on security best practices and share this knowledge with friends, family, and your social media network. Awareness is a powerful tool in combating identity theft.
5. Report Suspicious Activity: Take Action If you suspect title theft or encounter any suspicious activity related to your property, report it to the appropriate authorities immediately. Contact your local law enforcement agency, your state’s real estate board, and the Federal Trade Commission (FTC) to report the incident and seek guidance.

Title theft poses a significant threat to homeowners and can have severe financial and emotional consequences. By understanding the risks, staying vigilant, and implementing preventive measures, you can fortify your property against title theft. If you suspect you may be a victim, start your research to make sure you are not! You can contact your Realtor, a real estate attorney or title company and ask for help in locating public documents if you feel you are not able to it yourself. It is important to note that title theft is not that common and reported reported incidences decrease every year.  Not because of insurance but because real estate professionals, title companies, banks, ect, all continue to develop more strict guidelines and requirements and make greater efforts to protect against this. Remember, knowledge is power, so educate yourself and others to create a community that is resilient against identity theft in all its forms.