Forgery is the crime of falsely and fraudulently creating or altering a legal document. It is a felony punishable by imprisonment. It is also an act which may cloud title to a property and may result in protracted legal proceedings.
Sadly, the incidence of forgery is escalating, and the victims are innocent property owners. Title industry figures reveal that over the last decade forgery losses tripled, accounting now for over 20% of the losses paid by title insurers.
The attached piece provides a list of Red Flags that may help with detection and prevention and at the very least, encourage further investigation to ensure the validity of the transaction.
As always, we remind you to request a property profile from our Resource Center at the very beginning of your listing appointment and/or presenting an offer to provide you with a clear picture of all issues and potential problems that can stand in the way of a successful closing.
Click here for Red Flags Forgery Handout
There has been much discussion in the title industry lately with regard to certain companies issuing title policies with Western Regional Exceptions. Your clients may not know that all title policies are not the same and that policies with such ‘exceptions’ can limit their coverage and expose them to the following potential title problems in the future:
- Building Permit Violations
- Taxes or Assessments that are not yet recorded or levied
- Any liens, encumbrances or claims not show by public record
- POST Policy forgery, adverse possession, prescriptive easement, inflation coverage, living trust coverage
WRT’s Eagle (ALTA/CTLA) Homeowner’s Policy, our standard policy for residential purchases, provides your clients with the broadest homeowner’s coverage and WITHOUT Western Regional Exceptions. Your clients count on you to guide them through the real estate process. So count on Western Resources Title to be your title partner.
Click here to see our comparison of coverage.
Today we remember the lost.
Honor the survivors.
And NEVER forget the heroes.
Summer’s behind us. Autumn joys are just ahead. Time to remember the workers who have contributed so much to America’s success!
Please be advised that our office as well as all county recorders offices will be closed on Monday, September 7, 2015 in observance of this federal holiday!
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