What You Need to Know About Title Locking

There are many ways to protect your home from theft. You can install tall fences, CCTV systems, or even adopt a guard dog. But, what can you do if your ownership of your property title is stolen?

According to the FBI, home title theft is a combination of mortgage fraud and identity theft. This is committed by stealing your personal information to forge your property title and change the ownership. As a result, your home can be sold or rented out without your knowledge. Not only will you lose ownership; you’ll also have a large amount of debt. So, how can you protect yourself?

What Is Title Locking?

The good news is, you can protect yourself from falling victim to the crime. You can monitor your credit reports for unusual expenses. Check with your local registry for any deeds you’ve granted and search your county auditor’s website for details of your property records.

Also, be diligent in securing your personal information and have your neighbors keep an eye out for uncommon activity around your home. But, on top of these measures, the most effective way is through title locking.

Also known as property title protection, it’s a security and insurance service against home title theft. For a monthly or annual fee, the company will “lock” your name to your deed of ownership. During your subscription, if they detect any alterations to the document, a call or message will alert you.

You’ll then be asked if the change was made by you or with your approval. If it was a successful title theft attempt, not only will the title revert to you; you’ll also receive financial compensation for the loss.

Benefits

Aside from security and insurance, title locking has other benefits. Some of them are:

  • Guaranteed alerts on unexpected changes to the title of your subscribed properties
  • The ability to act immediately upon notifications
  • Convenience in ordering related documents about your property
  • Real-time knowledge on changes to the real estate title for multiple person-owned properties

Additionally, you can subscribe to a home locking service to protect yourself from the crime. Taking this simple yet crucial precautionary step can give you peace of mind knowing that you covered all bases to avoid possible problems. To learn more about property title monitoring, talking with the FBI can help.

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