Homebuyers are often cautioned to carefully review any paperwork they receive during the closing process, and for good reason. In Gwinnett County, Ga., authorities are raising a red flag over reports of an ongoing quit claim scam involving empty properties near Atlanta.
Based on a number of reports made to the Gwinnett County Police Department, investigators say scam artists are actively targeting prospective buyers of vacant owner-occupied and rental properties in the area. The scam is primarily perpetrated via forged signatures, fake identification documents and fraudulent quit claim deeds.
These falsified deeds are being used by scammers to sell properties they don’t actually own to unsuspecting buyers or coerce money from the property’s legitimate owners. Investigators caution homebuyers to carefully examine any quit claim deeds and conduct a thorough title search before following through with a purchase.
Police officials also recommend enrolling in the Fraud Alert Notification System, a free program that sends alerts when deeds, liens or mortgages are filed on a registered property. This tool can help ensure that title holders and property owners aren’t being targeted or used in a scam without their knowledge.
Victims of this scheme and others like it are urged to report any suspicious activity to their local authorities.
Despite recent legal efforts to curb deed theft and title fraud schemes such as this – including HB 1292, which went into effect at the beginning of the year – scammers continue to find new ways to extract wealth from potential victims.
Jon Dovidio, vice president of EquityProtect, said it remains vital for the public to remain on alert and practice due diligence.
“EquityProtect applauds Georgia for passing HB 1292, a step toward better protection for homeowners,” he said in a press release. “However, the recent Metro Atlanta warning about scammers stealing home titles highlights the limitations of the current Filing Activity Notification System (FANS), which is reactionary and insufficient for at-risk homeowners.”