Property Fraud: Sellers Beware
By Charlotte Avens, Senior Solicitor DPM Legal
With the advancement of technology and evolving fraudulent schemes, the vulnerability of conveyancing transactions has significantly increased in recent years, and property fraud now poses a significant threat to any homeowner. Mortgage free and unoccupied properties are particularly at risk.
The types of fraud fraudsters adopt varies, ranging from identity theft to sophisticated cybercrimes. One frightening tactic involves criminals assuming the identity of property owners, fraudulently selling or mortgaging the property without the rightful owner’s consent.
The consequences of property fraud are dire and far-reaching. Innocent homeowners may find themselves embroiled in legal disputes, facing the risk of losing their properties or significant financial losses.
Solicitors play a pivotal role in verifying the authenticity of parties involved in property transactions, ensuring compliance with legal requirements and safeguarding the interests of their clients.
How can you protect your property
A) Sign up to HM Land Registry’s Property Alert Service
This free service enables property owners to monitor activity on their registered properties, receiving email alerts for any significant changes, thereby enabling timely intervention of suspicious transactions.
B) Put a restriction on the property title
A restriction on your title is a notice to Land Registry preventing any sale/mortgage unless a solicitor confirms they are satisfied it is the true owner they are dealing with.
C) Address for service
The title of a property shows the name of the owner and their contact address. Should Land Registry need to contact the owner, they will use this address. It is therefore vital to keep the address up to date.
For more information on conveyancing please contact DPM Legal on 01483 521 597 or visit www.dpmlegal.co.uk
Disclaimer: This post is a paid advertorial in collaboration with MoveTo.co.uk The views and opinions expressed in the linked article are those of the author and do not necessarily reflect the official policy or position of MoveTo.co.uk. #Ad #PaidPartnership #SponsoredContent
Read next;
Fairways & Fiscal Flair