Should I be worried about my title being stolen?

As a title company, over the years and especially as of late, our most frequently asked question is regarding property fraud– “should I be worried about my property/title being stolen?”

If you watch the news or listen to the radio, you have certainly been exposed to commercials advertising about services to protect your property. These ads seek to relieve homeowners’ fears by promising them alerts if anything is recorded under your name and that the fraud experts will assist to protect you and your assets. Sounds great!

The ads instill fear in property owners that your property is being stolen without your knowledge. And in fact, this could happen. This may happen with or without the advertised protection service. Once a document is recorded in public record it is done. It can’t be undone, until it’s corrected. So, if the service is to notify you, that’s great, but it’s too late. And if when you purchased your property you DID NOT get title insurance, well you are on your own.

Hopefully, you remember obtaining an Owners title insurance policy with the title company when you closed on your property, or at least we hope you did! If you have your Owners title insurance policy, then you are already covered. Your policy covers you for fraud. You will reach out to your title company or the insurance company that backs the policy and file a claim. They will research the fraudulent accusation and work to clear and pay for the property to be returned to you. Your title policy covers you up to the value of  the policy.

Your Owners title insurance policy will not stop the fraudsters, or alert you, but it will protect you if or when it happens. Getting title insurance is certainly better than purchasing a service that may cost you more than it needs to. Know your options, know if you have title insurance.

Title Junction is a full service real estate title company serving the area of Fort Myers, Cape Coral and the entire state of Florida since 2005. The company handles a number of real estate title services for both commercial and residential properties. 

Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: Student Debt? You Can Still Buy Your First Home

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