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Real estate title fraud is a growing concern for homeowners, and it’s important to know how to protect yourself. Title fraud occurs when someone steals your identity and then uses that information to register a mortgage or transfer ownership of real estate without your knowledge or consent. This type of scam is becoming increasingly common, so it’s essential to take the necessary steps to ensure you are not taken advantage of.

1. Protect Your Personal Information

One way to protect yourself is to ensure your personal information is secure. Sensitive information such as your name, address, date of birth, and bank account information can be used by fraudsters to open fraudulent accounts and take out loans in your name. Always make sure to destroy documents containing personal information by tearing them into small pieces or burning them.

2. Secure Your Online Accounts

Another way to protect yourself from title fraud is to ensure your online accounts are secure. If a fraudster is able to gain access to your accounts, they can use the information to make purchases in your name or steal your identity. Use strong passwords, and different passwords, and change them often. Additionally, you should enable two-factor authentication when available. Never share your passwords or PINS with anyone.

3. Purchase a Homeowner’s Policy of Title Insurance

Title Insurance provides protection in the event of a fraudulent mortgage or transfer being registered on your property. Without a title insurance policy, you may incur costs including legal expenses to prove ownership of the property. Title insurance can be purchased through your real estate lawyer. . The cost of the policy is nominal compared to the potential headache of title fraud without insurance.

Real estate title fraud can be devastating for both buyers and sellers alike; however, there are several steps you can take to protect yourself from becoming a victim of this type of scam. Be sure to protect your personal information from theft. Also, ensure your online accounts are safe from hackers. Finally, purchase a title insurance policy to ensure that you are protected in the event of a title fraud. By following these tips, you can ensure that the title to your property remains safe from title fraud.