![]() They also target homes owned by older adults, who may be especially susceptible to fraud. Home title thieves can target anyone, but they often target vacant homes, vacation homes and rental property where the owner isn’t on-site all year round. Who is likely to be targeted by home title fraud? They could even sell the home without you being aware of it. They could refinance the property and turn all your equity into cash – then run off with the cash. They might take out a home equity loan and fail to make payments on it. If a home title thief transfers the deed of your home into their name, they can do whatever they want with the property. Once a home title thief has illegally transferred the title, the new owner can then sell the home, or raid the available equity, all without the owner being aware of it.Įmail Facebook LinkedIn Reddit Twitter What Happens if a Property Title Is Stolen? They then use that false identity to transfer the home’s title to themselves or another person. The thief creates false documents to establish the fraudulent identity, often including Social Security, driver’s license and other ID documents. Home title theft is a type of identity theft in which a thief fraudulently puts a deed (the document stating that you own the home) in their own name. In many cases, the title is jointly owned, as when spouses purchase a home together and have both their names on the deed.Įven if you’ve taken out a mortgage to buy the home, the ownership rests with you, not with the mortgage company (unlike when you buy a car, when the lender is likely to hold on to the car’s technical ownership until you finish paying for it). When you buy a home, the home’s ownership and title pass to you. The title to a home is a shorthand way of referring to its legal ownership and all the rights that go along with it. Keep reading to learn more about home title theft and how you can prevent it from happening to you. The good news is that you can protect yourself from this type of insidious fraud and theft. It happens when a thief forges your signature and/or steals your identity, stealthily taking over the deed to your home. ![]() The idea of home theft may never have occurred to you – after all, how could anyone walk away with your home in their back pocket? When you think of theft, you probably think of someone stealing your wallet, your phone or maybe even your car.
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