What happens if someone steals the deed to your house?
What Happens If A Property Title Is Stolen? If someone steals your property title, a lot can happen. The thief could sell your property or refinance it, not pay the mortgage and allow it to enter foreclosure. The theft of your deed is the result of identity theft.
Can someone steal the title to your home?
Savvy thieves are able to forge documents, commit fraud, and steal the title/deed to your home, potentially to sell the property to someone else and reap the proceeds, or use their fraudulent ownership to access a lending tool and extract the home’s equity.
How is home title theft possible?
Property title theft most commonly occurs when one person fraudulently puts the deed to a house in another person’s name, refinances a home’s mortgage, or takes out a brand new mortgage using a home’s value as collateral. The thief can refinance the mortgage, cashing out the equity and walking away with the difference.
How do I file for a lost deed in Texas?
You may obtain Texas land records, including deeds, from the county clerk in the Texas county in which the property is located. You can search online for a deed in some counties, or else request the deed from the clerk in person, by mail, phone, fax or email.
Is Home title theft really a problem?
The short answer is yes, home title theft can happen. But you should know the details first before you start worrying too much about this new form of identity fraud. Nevertheless, the idea that someone is trying to steal the title to your home is horrifying.
What’s the difference between a deed and a title?
The Difference Between A Title And A Deed A deed is an official written document declaring a person’s legal ownership of a property, while a title refers to the concept of ownership rights. In this way, a book title and a property title are the same: neither are physical objects, but rather concepts.
What is difference between title and deed?
The Difference Between A Title And A Deed A deed is an official written document declaring a person’s legal ownership of a property, while a title refers to the concept of ownership rights. A deed, on the other hand, can (and must!) be in your physical possession after you purchase property.
How do I transfer a deed to my house after death in Texas?
Now, people can convey clear title to their property by completing a transfer on death deed form, signing it in front of a notary, and filing it in the deed records office in the county where the property is located before they die at a cost of less than fifty dollars.
Can someone sell a house if your name is on the deed?
A house cannot be sold without the consent of all owners listed on the deed. When selling a home, there are different decisions that need to be made throughout the process. Decisions such as hiring a listing agent or negotiating a price are often challenging enough without having to agree with the co-owner.
What is deed in Texas?
Texas Property Deeds. A deed is a document that establishes legal and equitable title to real property. When you buy a house in Texas, you get a few very important documents, including a warranty deed and a document called deed of trust. The warranty deed transfers ownership of the property from the seller to you.
How to protect your home from deed theft?
In your absence from your home, have mail forwarded or ask someone you trust to pick up mail or visit your home. Visit a vacant house periodically to ensure that no one has taken up residence illegally.
What kind of crimes can you do with forged deeds?
In addition to deed forgery and identity theft, house flipping and house stealing can also include other crimes, including elder abuse, property theft, tax fraud, and mortgage fraud. Forged deeds can also be a component of a mortgage fraud.
Where do you get a deed of trust in Texas?
When you buy a house in Texas, you get a few very important documents, including a warranty deed and a document called deed of trust. The warranty deed transfers ownership of the property from the seller to you. This document gets recorded with the local recorder of deeds and becomes a matter of public record.