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MSGID: 303.canada@1:2320/105 283bb87b
REPLY: 1:153/757.21@fidonet 04d038ef
PID: Synchronet 3.19c-Linux master/cb76b1463 Feb 20 2022 GCC 7.5.0
TID: SBBSecho 3.14-Linux master/cb76b1463 Feb 20 2022 GCC 7.5.0
BBSID: CAPCITY2
CHRS: ASCII 1
Hi August..

RM> The problem, which should never have been allowed to  exist, is that
  > they have replaced Title Searches with Title Insurance.

AA>It just seems to easy to misrepresent oneself as the true owner
  >of a property.  Meanwhile, no one seems to check with the
  >actual owners themselves!  ..and a property can proceed with a
  >mortgage/sale and the true owners don't even have a clue that
  >is going on.

I actually ran across some info on it since posting this and it's
not quite as easy as it sounds, the 'sellers' have to do an actual
identity theft to pull it off, having drivers license numbers and
Social Insurance numbers and such, but we know these things still
happen fairly frequently. They mentioned on the news that it is run
most often by organized crime. Something like 30 homes in Toronto alone
have been subject to this in the past year, mostly Mortgage fraud, not
the sale of the house fraud, which is much harder to pull off.

A story mentioned that in 4 cases the house was actually sold, and
one couple only found out about it because their mortgage had been
paid off - which would have to be done before the house could be sold.
(They were out of the country for 4 years with the house rented out.)

It was mentioned that 'the system' believes the new owners legally own
the property but there's no further info on what can be done to get it
back. It's apparently a little messier than buying a stolen car..

Everyone believes something should be done to prevent this but it's one
of those things where it will take time for the law to catch up with
the crime.. and I think That is ridiculous too.. They should be able to
pass something virtually overnight to stop this. I'd imagine just making
the lawyer that put through the sale financially responsible for the
whole mess might put a stop to it pretty quickly..
---
 * SLMR Rob  * Does the National Ballet travel by Tu Tu Train?
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