California Real Estate Fraud Report

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08
Jul

Schwarzenegger signs bill to prevent real estate fraud

Governor Arnold Scharzenegger signed Assembly Bill 2618 this week.

AB 2618 addresses the form of real estate fraud in which a person or legal entity is defrauded when title to their property is transferred without their knowledge (title fraud). It permits the boards of supervisors statewide to adopt a resolution authorizing their county recorder to notify all parties when a document has been executed that affects the interests in a property. Currently, only Los Angeles County has that provision.

The bill is in response to one of many real estate crimes occurring not only in California, but across the country. When a property owner has been defrauded because of title transferring without his or her knowledge, it often takes years and tens of thousands of dollars of litigation to correct.

Read the full text to AB 2618.

© 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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