Posted on 07/24/2021 4:44:29 AM PDT by sodpoodle
A Philadelphia man allegedly stole 14 houses around the city using fraudulent deeds, according to the District Attorney’s Office.
Tyree Burno, 42, has been arrested and charged with assuming ownership of homes located in West Oak Lane, Logan, Frankford, Cedar Brook, and Mt. Airy neighborhoods, either in his own name or using a series of fake names.
Such fraud is fueled by a white-hot real estate market, said Assistant District Attorney Kimberly Esack, with the office’s Economic Crimes unit.
“Oftentimes, the neighborhoods targeted are ones seen as up-and-coming, where gentrification is prevalent,” she said. The victims, often the elderly, may not have the financial means to fight a protracted legal battle to get back what is legally theirs, continued Esack.
Deed theft is a recurring problem in Philadelphia. In March, five people were charged for taking 10 homes, and in 2019 city officials unveiled a tool called Fraud Guard to crack down on the thefts. City officials continue to urge homeowners to sign up for the program, which alerts you when a document is recorded with your name on it.
Law enforcement first learned of the Burno case when a 71-year-old woman complained that her home had been improperly sold in 2019. From there the case grew, with officials eventually charging him with more than 80 counts of theft and 42 counts of forgery for the taking of 14 homes and two lots, as well as leasing two buildings unlawfully and forging four checks.
(Excerpt) Read more at whyy.org ...
They could do a pocket deed amnesty before the new system took effect, what fun that would be ;)
The rightful owner remains the rightful owner. But the rightful owner may need to go to court to get a ruling he is the rightful owner. That can cost $15-25,000 dollars. Or so I’ve read. No first hand knowledge.
Title insurance only covers errors in your title that the title company issued. someone else’s crime of a different and bogus title is not covered.
Just because something is called ‘title insurance’ doesn’t insure against all claims and origins
How about a place inimum 7 business day waiting period to record any real property change in ownership documentation at the County Auditor’s office. Part of the recording fee would cover the cost to make in-person contact with the current deed owner.
Not necessarily. For a lender, the closing date is often deemed to be the date the loan is funded, which cannot occur until the deed and the deed of trust are recorded.
I appreciate your thoughtful responses, but I'm going to move on from this discussion.
Bkmk
That is it. If taxes go delinquent somebody can pay like 3 years worth and own the property.
Yes, buy the property for back taxes and then sell it at the fair market value which can be many times more than the back taxes.
“Restoring the home to the original owner then just changed the victim from the original owner to the innocent buyer who bought the house.”
Which is how it should be. No one should be allowed to buy and keep stolen property. It’s the buyer’s responsibility to make sure they aren’t being scammed, not the innocent and unknowing owner.
Full title insurance from a major carrier. Also any attorney participating is legally at financial risk as well as disbarment. As always these scum prey on the weak, the old, and the uninformed.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.