Online property information aids deed thieves
Online property information is making it easier for swindlers to forge deeds so they can sell vacant homes to unsuspecting buyers.
The problem is particularly bad in New York City, where 120 cases are being investigated, the Wall Street Journal (sub. req.) reports.
The city posts online copies of deeds, mortgages, liens and other documents. That makes it possible for scammers to see information such as owners’ signatures, addresses, emails and phone numbers. The information also makes it easier to obtain owners’ Social Security numbers.
David Szuchman, chief of the investigative division of the Manhattan District Attorney’s office, tells the Wall Street Journal that the online records have become “one-stop shopping for fraud.”
The New York City Department of Finance is trying to stop the fraud by notifying property owners when a new deed is recorded for their property.
Detroit and Chicago are also reporting increased deed fraud. Cook County, which includes Chicago, is currently investigating 62 cases.
See also:
ABAJournal.com: “Deed thieves use sham companies to hide their identities”
