Benchmark Title Company, LLC

 

The Potential Effects on Title from ID Theft

John Howe

The Potential Effects on Title from ID Theft

You own rental property either here or in another state and suddenly your rent checks stop coming from the tenant, you let it go for a couple of months, the economy is bad and you are Mr. or Mrs. Nice Guy. Then it becomes a problem so you go to the property and find an unknown individual is living in the home. What now? What likely happened? Why me?

Being Mr. or Mrs. Nice guy is not good business and if you own rental property, you are in business. Potential scenario, tenant, that you thought was a good person, honest and all that, turns out to be a very good scammer. This tenant has a title search done on the property to find out if any mortgages or other encumbrances against the property, best case for them, no existing mortgage. They already have a lease with your signature so they list the house for sale forging your signature, sell the house, again forging all the documents, and off they go with the proceeds. This is another form of ID theft that, like most, includes a forgery.

What could you have done to prevent this? Did you get some forms of identification form the tenant? Did you have a credit check run on these folks? Did you have an attorney draft the lease?  Once again, as a rental property owner you are in a business, and need to protect yourself with some simple due diligence. A store bought lease may not be the best product available. Yes it may cost a few dollars, but think of the real potential loss.

Do you have a claim against the Title Insurance Company that insured the new buyer? Yes you may have, assuming that Title Insurance was acquired.

At Benchmark Title when our closers suspect anything strange due to the actions of the parties, and believe me peoples faces tell a lot, we will check the file for any prior documents signed by the parties and review them for potential irregularities. Have we ever found any? Yes we have. We have had people tell us they left their identification out in the car, go to get it and never return. Could this happen to you? You bet it could! Be aware, it pays you to be cautious and seek expert advise. Sometimes it may cost you a couple of dollars, but well worth the protection.

Any questions can be directed to Benchmark Title at 618-239-3750. Please feel free to call or email:  

John Howe
President

Doreen Miller, Esq.
Vice President and General Counsel

Michelle Null
VP Escrow Operations

Bethany Bond
Marketing Director


Serving you from three convenient locations:

Main Office:
1124 Hartman Lane
Shiloh, IL 62221
Ph: 618-239-3750
Escrow Fax: 618-239-3707
Title Fax: 618-239-3757
Fax Orders: 618-310-1589
President: John Howe
www.benchmarktitle.net

318 North Main St.
Columbia, IL 62236
Ph: 618-281-9700
Fax: 618-281-9705
Manager: Randi Schur

4215 S. State Rte 159
Glen Carbon, IL 62034
Ph: 618-288-1695
Fax: 618-288-1852
Manager: Sara Sowell





Dates to Remember


December 26, 2007- Benchmark Title welcomed 2 new additions. Michele Schuetz (Rodney) from our Columbia office had twin girls, Miley and Paige, both doing great and already at home.

February 22, 2008 - RPAC Trivia Night at 7 p.m. at Bel-Air Bowl. Contact RASI for more information.

February 27, 2008 -  Realtor Business After Hours at Cutter's in Belleville @ 5:30 p.m. No RSVP required.

March 6, 2008 - Benchmark Title Commercial Reception in Honor of Doreen Miller and the Commercial Division from 4:00 p.m. - 7:00 p.m.
1124 Hartman Lane, Shiloh, IL.  Please R.S.V.P. to Kim at (618) 239-3750.

March 15, 2008 - RASI Awards Banquet.


 
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