Tuesday, November 26, 2013
WATCH OUT FOR REAL ESTATE SCAMS ON VACANT PROPERTIES
A recent article in the OC Register reported a 5
year prison sentence for a man forging deeds on vacant properties and then
renting them and collecting those rents.
The unfortunate part of this scenario is for the homeowner who may have
moved out of a distressed property or simply moved and had not yet disposed of
the existing property and now have to deal with tenant's rights, as well as a
forged deed. Fortunately, the ALTA
Residential title policy protects against after close of escrow forgery. Not all title companies issue this
policy or do so automatically without Western Region Exceptions, but Fidelity
National Title does. Always check
to make sure you receive this superior title policy when you are purchasing a
home.
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