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The Potential Effects on Title from ID Theft The
Potential Effects on Title from ID Theft Being
Mr. or Mrs. Nice guy is not good business and if you own rental property, you
are in business. Potential scenario, tenant, that you thought was a good person,
honest and all that, turns out to be a very good scammer. This tenant has a
title search done on the property to find out if any mortgages or other
encumbrances against the property, best case for them, no existing mortgage.
They already have a lease with your signature so they list the house for sale
forging your signature, sell the house, again forging all the documents, and
off they go with the proceeds. This is another form of ID theft that, like
most, includes a forgery. What
could you have done to prevent this? Did you get some forms of
identification form the tenant? Did you have a credit check run on these
folks? Did you have an attorney draft the lease? Once again, as a
rental property owner you are in a business, and need to protect yourself
with some simple due diligence. A store bought lease may not be the best
product available. Yes it may cost a few dollars, but think of the real
potential loss. Do
you have a claim against the Title Insurance Company that insured the new
buyer? Yes you may have, assuming that Title Insurance was acquired. At
Benchmark Title when our closers suspect anything strange due to the actions
of the parties, and believe me peoples faces tell a lot, we will check the
file for any prior documents signed by the parties and review them for
potential irregularities. Have we ever found any? Yes we have. We have
had people tell us they left their identification out in the car, go to get
it and never return. Could this happen to you? You bet it could! Be aware, it
pays you to be cautious and seek expert advise. Sometimes it may cost you a
couple of dollars, but well worth the protection. Any
questions can be directed to Benchmark Title at 618-239-3750. Please feel
free to call or email:
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Contact us today for a quote! Why wait? You can place your
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