California Real Estate Fraud Report

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07
Feb

Riverside Increases Transaction Fees to Fund Real Estate Fraud Investigations

A somewhat controversial proposal to increase fees on property transactions in Riverside that are used to fund real estate fraud investigations was passed after a compromise.

The new few is going to be $6 beginning March 5.

Both the Riverside District Attorney’s Office and the Assessor-Clerk-Recorder pushed for the increase. On the District Attorney Paul Zellerbach argued for the increase due to the continuing volume of complaints of real estate fraud and mortgage fraud in his jurisdiction.

Part of the fee currently goes to the Assessor’s office to help defray its costs for mailing out noticed to property owners when transactions are made concerning their properties. There have been numerous frauds committed when property documents are fabricated and/or forged in order to defraud the lawful owner from his/her property, almost always without the owner’s knowledge (title fraud).

Read the original article in UT San Diego.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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