6.38 Fraud


In General

The title industry has frequently been subjected to the fraudulent schemes of persons who have sought to make their fortune by defrauding title companies. Although the types of schemes have varied over the years, the end result is always the same: the title company pays. In order to defray some of the possible problems, title counsel will send out bulletins that detail certain types of fraudulent schemes along with names of persons and certain property descriptions that have been involved in these types of schemes. Title agents should pay close attention to these bulletins as well as their surroundings in order to avoid being subjected to fraudulent schemes.