How To Avoid Property Fraud By Athulya - August 14, 2018 Last Updated at: Oct 20, 2020 4809 How To Avoid Property Fraud Andhra Pradesh Govt. is launching a pilot project for video recording of the property registration process to prevent property frauds. This project will be implemented in 20 registrar and sub-registrar offices in the coming weeks. With no commercial or residential deals closing due to the lockdown, agents are keen to learn about the intricacies of social media marketing and also various legal provisions such as force majeure that they will have to grapple with later. In the current market, property frauds is increased at all the levels in everyday life. It is becoming tough to identify which is true and right property. It is best to hire the consultant or lawyer to have a look and verify about property title. This way you can avoid real estate scams and property frauds. In the present market, property frauds and the real estate scams have been increasing at all the levels day by day. They are becoming very hard to identify which one is true and which one is not true. When a prospect seems to be good and true it is very difficult to find the right prospect. It is very necessary to choose a right property which you are willing to buy and from the individual whom you are buying. It is better to hire a good real estate lawyer/consultant to do a property title verification is the best way to avoid any type of property frauds and real estate scams. But there are some scams which can be avoided easily with common sense. Explore our legal help services to protect your intellectual property, secure funding from Venture Capitalists & comply with the many regulations of the MCA information and resources to help you through your end to end business requirement. Register a Company PF Registration MSME Registration Income Tax Return FSSAI registration Trademark Registration ESI Registration ISO certification Patent Filing in india Here are some kinds of property frauds which can be avoided easily- Title Fraud: Title fraud is one of the disparaging types of property for property owners. In this type of fraud the individual steals the individuality and uses fake documents to sell the real estate property or to get a new home loan against the property. After getting the loan, the fraudster takes off the money and leaves the future payment burden on the owner. The best protector for this type of property fraud is to get title insurance which safeguards you from the encroachment errors and issues in the public records. Another key to protecting this type of fraud is to employ the protection of the personal information. Safety measures can also reduce the mistakes. Register Your Property Rental Scams: Most of the people start their house hunt over the internet, this is the big benefit for the property fraudsters. In this type of frauds, criminals pose as real estate agents and take the online rental listing and repost the same on another site on their names. Usually, they will offer the rents for less cost and they will ask security deposit, in addition to this they will also offer a fake rental document. This is too hazardous because the buyer not only will lose the deposit amount but also lose their identity as the criminal has all the information on the rental agreement. This is a common scam which is major in the real estate market. To avoid this real estate rental scam, the property owner can search addresses of their units on SE (search engines) like Google image search and they should also watermark the photos they use in listings. They should include contact numbers too. Foreclosure and home-equity fraud In this type of fraud, criminal enterprises take the benefit of house owners who are facing problems to pay their mortgage payments. In exchange for a less monthly payment and an amalgamation loan, the house owner pays upfront fees and transfers the title of the property agreement the new lender. Then the fraudster keeps all the payment made by the house owner and sells the property without the knowledge of the property owner. When leveraging properties, there is always a risk factor. The owners looking forward to borrowing on the equity should be attentive for less meticulous lenders such as those who invite property owners to adorn their document by inflated income and property assessment value sources to secure huge loans. While investing, do some general research on the property which you are going to purchase like the owner name, title research of the land, previous transactions, mortgages and liens to avoid property. Don’t share your documents with others and hire a reputed real estate agent to protect yourself from property frauds or real-estate scams. Some of property frauds that can be avoided are: title fraud in which the person steals the individuality and creates fake documents and sells the property. The criminals pose as agents and takes the rental list and repost them on other site with their names on it.The criminals takes benefits of house owner who have mortgage payments and exchange for lesser monthly rent. While investing, do little research on the property.