Deed theft is running rampant in Florida and other states in the U.S. as scammers shop for ways to get rich at the expense of innocent victims. Deed theft, which is when someone transfers the legal title to property without the real property owner knowing about it now makes up more than an estimated $30-million in transactions a year in Florida alone.
The majority of the transactions involve vacant land. Nearly two out of three deed thefts are committed involving bare land, while only 16 percent are single family homes. Many thefts are committed using fraudulent id’s representing the sellers in foreign countries. Scammers forge documents using not only fake id’s but also recently opened bank accounts, to which they have funds wired.
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