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How is the deed meaningless? Isn't it a legal doc showing transfer of ownership? If the town has the deed for 10 Church St., showing Jane Cook owns it, how is it possible that someone else can record a deed for that same property with the same town clerk's office? Is it b/c the town clerk does not check?
The deed doesn't have pictures of the owner on it. The scammer pretends to be the owner and sells the property, transferring the deed to the new buyer. You can do an entire sale without having an attorney or title company involved. The only thing to get around if you have a cash buyer is the notarization of the deed.
"A Long Island doctor claims a nearly $1.5 million house is being built on the vacant Connecticut lot that’s been in his family for 70 years without his knowledge because of a stunning fraud scheme, according to a federal lawsuit.
Dr. Daniel Kenigsberg’s jaw dropped when he swung by what used to be his empty lot in Fairfield, Connecticut — only to find a partially constructed three-story house on the property.
The pricey home, which boasts four bedrooms and four full bathrooms, has transformed a parcel previously covered in trees into a now-stalled construction project.
“I was living my life normally until May 31st,” Kenigsberg told the Washington Post, “and all of a sudden, this happened.”
The property was fraudulently transferred to Sky Top Partners LLC for $350,000 in October 2022, according to the federal lawsuit obtained by The Post."
Scam that led to surprise $1.5M house in CT might have been multi-state scheme, officials say
"As legal wrangling intensifies over a house in Fairfield built on land the developer bought as the victim of a scam, the FBI appears to have evidence the fraudulent sale was part of a multi-state swindle, perhaps by the same people."
It happens because Buyers do not perform sufficient due diligence to ensure it is not a scam/scammer. Many land only transactions wind up being without title searches/title insurance which can help prevent that. There are many seller to buyer direct transactions that have no middleman/third party safeguards against this.
Do you understand what a deed is and how recorded deeds work? The deed showing Jane Cook as the owner will be replaced with a deed showing Frank N. Beans as owner if Jane Cook sells/transfers the ownership to Frank. Plain and simple.
Right, but we're talking about a situation in which Jane Cook has not transferred ownership to the seller. So how is a deed meaningless?
Right, but we're talking about a situation in which Jane Cook has not transferred ownership to the seller. So how is a deed meaningless?
A Deed isn't meaningless--it's essential. I have no idea why Rabrrita chose to call the Deed in these cases "meaningless." Probably just a poor choice of words. (I'll give them the benefit of the doubt.)
Generally, recording offices do not check the veracity of a Deed. They simply don't have the resources to do so. If presented with a notarized Deed in the proper form, they generally go ahead and record it.
100% accurate. If one steals or fabricates one of those notary stamps you can do a lot of damage.
A Deed isn't meaningless--it's essential. I have no idea why Rabrrita chose to call the Deed in these cases "meaningless." Probably just a poor choice of words. (I'll give them the benefit of the doubt.)
I meant meaningless as in it's not like a car title that requires the owner to provide that physical/original State issued instrument to the buyer. In most places, Real Estate Deeds are just a new written legal instrument each time that essentially is filed to replace the existing one. As mentioned by others, if it looks like a duck, smells like a duck and quacks like a duck, it's accepted as a duck. I think there are many who think one gets an official paper deed from the government that they hide away under the mattress and like on TV or the movies, when selling it gets signed over at the kitchen table to be legal. But, i see how my use of "meaningless" wasn't explain fully.
I meant meaningless as in it's not like a car title that requires the owner to provide that physical/original State issued instrument to the buyer. In most places, Real Estate Deeds are just a new written legal instrument each time that essentially is filed to replace the existing one. As mentioned by others, if it looks like a duck, smells like a duck and quacks like a duck, it's accepted as a duck. I think there are many who think one gets an official paper deed from the government that they hide away under the mattress and like on TV or the movies, when selling it gets signed over at the kitchen table to be legal. But, i see how my use of "meaningless" wasn't explain fully.
Well...okay. But car titles can be forged, too. Just like passports, driver's licenses and official-looking I.D. cards.
Well...okay. But car titles can be forged, too. Just like passports, driver's licenses and official-looking I.D. cards.
Ahh but according tot he FBI, the vast majority of title frauds falls into one of three groups:
1. The title is a pure fake (counterfeit) or the seller alters a real title in which case it should (probably wont) be accepted by the state so legal transfer of the vehicle ownership will not occur.
2. The seller uses duplicate titles to sell the vehicle to multiple people at the same time. Each state handles this differently with most initially accepting the original tile over a duplicate to establish new ownership.
3. The seller is conned into legally signing over the title in some scam or con. Again, each state handles this differently depending on the circumstances with most motor vehicle accepting the legal valid signature as a transfer.
If they get hold of the actual physical tile, sure signatures and identity can be faked but that title will be needed in hand. Without the legitimate physical title or E-Title access codes, there is no transfer of ownership. Real Estate just need new written papers, the old physical paper deed really are not required in this transaction.
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