By now most real estate licensees have heard about deed fraud and its quick eruption on Arizona.
Arizona DRE Commissioner Nicolson remarked on deed fraud at her confirmation hearing. I have now met several REALTORS® who have had some experience with attempted or confirmed deed fraud.
Some of the most targeted properties are mortgage free, vacant, raw land, and investment/rental properties. Aside from outright deed fraud, there are also fraudulent HELOCs.
The American Land Title Association has produced a one page reference sheet for consumers and real estate professionals showcasing red flags to be watched for and suggested actions to prevent deed fraud. The short video below explains how title insurance helps protect homeowners.
The FBI and the Arizona State Attorney General have additional information on deed fraud and how they investigate and prosecute this crime.
Maricopa County recently launched an online sign up so property owners will be notified when documents are recorded in their name. Pinal County also provided a notification process.
If your county does not provide this service, make it a habit to search your property online regularly. The sooner you find the fraudulent recorded document, the better the chances of correcting the problem and providing law enforcement timely information.