Deed theft is a property fraud where criminals illegally record deeds in their name to take over properties, often targeting elderly, out-of-state, or vacant homeowners by forging signatures and notary documents; this fraud allows perpetrators to extract equity through illegal mortgages and loans, leaving victims with years of legal battles to recover their property.
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The Real Estate Scam Every Homeowner Must KnowAdded:
Someone could literally steal your house. All it takes is one fake document and boom, your house is gone. This is called deed theft and it is on the rise throughout the US and New York has reported over 3,500 reported cases alone. And this is something you need to be aware of if your house is paid for or especially if you have rentals or investment properties, you could be a prime target or be being targeted as we speak. So we need to talk about how to be aware, how to prepare, and how to avoid it. So that's what we're going to talk about here today. And basically what deed theft is is when somebody illegally transfers the title of your property into their name and then they start taking out loans on the property, lines of credit, and it's happening all over the place. So we need to know how to avoid it. Now it's Dustin Hiner and this channel's dedicated to tax lien and deed investing. So it's appropriate that we talk about some deed theft as well because a lot of the folks who tune in here buy investment properties through tax deed auctions. So when it comes to deed theft, you know, the worst thing that could happen is if you have an investment property, you put your money to it and you don't know what's happening behind the scenes and somebody records a fake document. They take out all of the equity because they go to the bank, they get an illegal mortgage, and then you're stuck with the bill. So these types of rackets are happening, this type of fraud is on the rise, and you really need to be aware of it and protect yourself. So that's what we're going to talk about here today and if you're just tuning in, we got I think over 3,400 videos on tax liens and deeds. We're the number one channel to help tax lien and deed investors and we have our tax lien school as well that shows you how to get started. So you're in the right place if you want to learn about tax liens and deeds and deeds. So in a nutshell, like I mentioned, deed theft is when somebody illegally records a deed in their name and takes over transfer of the property. And then what they could do is they can even sell the property, they could be renting out and collecting income. So this can happen and it is happening where the owner doesn't know sometimes for months or sometimes years. So, some of the easy low-hanging fruit that these guys are going after are elderly homeowners and especially out-of-state homeowners or if they're vacant or inherited properties that maybe don't have a lot of action.
And what they're doing is they're forging the signature on the deed, they're faking the notary, they're doing identity theft, and then the next thing you know, your property has vanished out from under you and people are taking advantage and you can be caught up in years and years of legal fighting just to uh fix this.
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