In a recent article here on AR, Margaret Rome Baltimore 410-530-2400 discusses the pros and cons of Title Lock Insurance.
Title Insurance Yes-Title Lock Insurance Maybe Not
The article is important because with the tools available online it has become easier than ever for scammers to record legal (or illegal) documents without showing up in a government office.
Here in Arizona, we do see Title Fraud. Most often it happens to vacant land. People come from other parts of the country buy a parcel of undeveloped land and then hold it for 20 or 30 years as an investment. Then after 20 years discovered the property had title changes recorded via Quit Claims or counterfeit sales contracts.
Maricopa County, where I live and work, has recently implemented a free service that alerts property owners of any new claims against their holdings.
I suspect many county governments across the country are implementing the same systems. Here's the link to the Maricopa County website: Maricopa County Title Alert
If you know of a similar system in your hometown feel free to post the link in the comments. This is an important value-added nugget for real estate professionals to share with their clients.
Joe Domino is a Realtor® serving the Phoenix/Scottsdale area. Need more information? Or to Search for your next home, visit www.Scottsdale-AZHomes.com
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