Lot Scam: Identity Theft and Theft of Property Titles in South Florida
A Real-Life Scam
Jeff Torrey, a Pompano Beach resident, was about to achieve his retirement plans by selling his 7,500-square-foot vacant lot. However, this month, his plans were almost ruined. He started receiving calls about the listing of his lot for sale for $160,000. The problem was that he never listed the property.
The Imposter
A realtor said he was contacted by a man posing as Torrey, who provided a fake driver’s license and an email address with Torrey’s name. The imposter listed the property on the Multiple Listing Service (MLS). Torrey was unaware of the listing until he was contacted about it. He used his address to search for the listing on Zillow and found his lot listed with every real estate company in the world.
"Had I Not Called the Real Estate Companies, I Would Have Had to Spend a Lot of Money with Lawyers to Reverse It," Torrey recalled.
A Common Target for Scammers
Broward Property Appraiser Marty Kiar stated, "Vacant lots are targeted constantly by criminals." He described South Florida as the "title fraud capital of the world." Lots like Torrey’s are easy pickings because many people don’t live on them.
Protecting Property Owners
Kiar introduced Owner Alert, a free service that notifies property owners via email and text messages when a property change is made. However, by the time the property owner receives the alert, the fraudulent deed transfer may have already occurred.
Prevention is Key
Kiar emphasized the importance of being vigilant and acting quickly to protect properties. He hopes that the newly passed law, making it a felony to advertise property that’s not yours, will help catch scammers. "I wish there was a way to stop it beforehand, but there isn’t. So, people should be very vigilant."
Conclusion
The story highlights the importance of being aware of the potential for identity theft and property title scams, especially for property owners with vacant lots. It is crucial for property owners to stay informed and vigilant, and to take immediate action when notified of a change in property ownership.
Frequently Asked Questions (FAQs)
Q: What is the most targeted type of property for scammers?
A: Vacant lots, as they are easier to target and sell without being occupied by the property owner.
Q: How do property owners find out about a property change if they’re not informed through Owner Alert?
A: Property owners are advised to regularly check their property information on real estate websites and with their local government to stay up to date.
Q: What is the best way to prevent these scams?
A: Be vigilant, stay informed, and act quickly if you receive any suspicious notifications or emails related to your property.
