Home theft is commonly linked with offenses such as burglary and home invasion, yet homeowners may overlook the risks associated with title theft. Fortunately for Arizona residents, Maricopa County released their own title fraud self-monitoring system – and it’s free.
What is Title Fraud?
Title fraud, also known as deed fraud or property fraud, occurs when someone unlawfully transfers ownership of a property to themselves or another party without the rightful owner’s knowledge or consent. This fraudulent transfer is typically achieved through forged signatures on property documents, fraudulent deeds, or other deceptive means. Once the fraudster gains control of the property’s title, they may attempt to sell or mortgage the property, steal its equity, or engage in other illegal activities. Title fraud can have severe financial and legal consequences for the rightful property owner, including loss of ownership rights, financial liabilities, and difficulties in reclaiming the property.
Title Fraud Insurance
The best way to protect yourself against title fraud is to acquire title fraud insurance. Home Title Lock has been a consistent leader in this particular market. This kind of insurance essentially wraps a “virtual barrier” around the home, which allows the insurance provider to detect fraudulent activity and combat it as soon as it is detected. It is a cost-effective safeguard, considering Home Title Lock offers an “Essential Protection” plan for just under $20 a month.
Maricopa County’s New Monitoring System
Maricopa County has launched a no-cost self-monitoring initiative aimed at combating title fraud. This program allows users to input their email addresses along with personal or business names they wish to monitor. Subsequently, users will receive email notifications whenever a new document is recorded under the specified names at the Maricopa County Recorder’s office. Functioning akin to Google Alerts, this service keeps users informed about recordings associated with their identity or business. Each email notification includes a link enabling users to review the document in question. Should users detect potential fraud, they are empowered to alert the authorities promptly, thus halting fraudulent activities. It’s important to note that this system only tracks documents recorded subsequent to the user’s sign-up, meaning ongoing fraud may not be detected by the service.
Users can sign up for the service using this link: https://Recorder.Maricopa.Gov/MaricopaTitleAlert/
