Total title fraud is \u0022extremely problematic,\u0022 because both a true homeowner and an unsuspecting new purchaser are victimized.
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King, of King International Advisory Group, looked into Yu’s case on behalf of her title insurer, and said he could not comment on the specifics of her case. On Jan. 5, Toronto Police asked for the public’s help to solve a different case that closely resembles Yu’s. It said that in January 2022, a man and woman listed a Toronto home for sale by using fake documents to impersonate the true owners. It was several months before the real owners, who were out of town, realized the property had been sold without their consent, police said in a news release.
The real estate photography firm that posted the tour of Yu’s apartment online did not respond to an email. Hudak said previous types of fraud would involve suspects acting as buyers to open a bank account and obtain a mortgage under someone else’s name, then make off with the money.Most vulnerable are owners who have been absent from their homes for a long period.
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