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Land Registry Launch Alerts To Help Fight Property Fraud
- AuthorJCP Solicitors
H M Land Registry has set up an alert system to help property owners protect themselves against property fraud.
Property fraud can happen by fraudsters impersonating the registered owner or, the fraudsters can use forged documents to attempt to acquire ownership of a property. If they impersonate the owner, they may raise a mortgage against the property and then disappear with the mortgage monies without making any repayments. This, of course, is all done without the real owner’s knowledge or consent, but they are left to deal with the consequences.
Property owners can sign up to H M Land Registry’s free service, where up to three properties can be monitored. In the event that anyone tries to change the title register at H M Land Registry or makes a search against the property, an email alert is sent to the owner and the owner can then judge whether this is activity is suspicious and whether they need to obtain further advice. It is hoped that by doing this, investigations can be made much earlier in the process and fraudulent transactions reduced.