I thought I'd post this recent article on cases of forged deeds on the rise. As I recently posted, South Florida has always had some of the highest numbers of real property fraud in the country. This shows the value of having title insurance, but as I also have posted in the past, unless you get a policy for the value of your purchase price plus the value of the improvements you plan on making, you'll be self insured for the latter if the fraud comes to light after you've started the rehab.
Fraudsters target property owners in historic Black neighborhoods in South Florida (local10.com)
Do you have any links to information about how this is happening - basically any links with real data and information rather than just a "this is happening" type story?
Of course I don't know the specifics of this alleged fraud but there are many variations on how the fraud can be pulled of. In many of the title claims involving forged deeds I handled, all communications between the parties were handled via email. Nobody ever actually spoke to anyone. Someone submits a contract to the title agent. The agent orders a title commitment from the underwriter and prepares the closing docs and emails them to the various parties, i.e. closing statements, deed to be signed, affidavits, wiring instructions. The deed and closing funds are returned to the closing agent and the deed is recorded and the funds disbursed. Voila, a fraud has been perpetuated. In this Gibson case apparently someone is going to take a $230k loss.
I didn't read the articles attached to the links so I can't vouch for their accuracy.
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