Larry and Dreama Bilby thought their under-construction home in Tampa, Florida was safe. Although they weren’t living on the property, they monitored it via home security cameras — which is how they noticed two strangers kept visiting the house. Then, they received a notification from their county clerk’s office about a change to the deed on their home.
Scammers had used a shockingly simple method to claim the Bilby home: a fraudulent quitclaim deed, filed at the county clerk’s office for less than a dollar.
-
Accredited investors can become the landlord of Walmart, Whole Foods or Kroger — and benefit from regular distributions without lifting a finger. Here’s how
-
Car insurance premiums in America are through the roof — and only getting worse. But less than 2 minutes can save you more than $600/year
-
These 5 magic money moves will boost you up America’s net worth ladder in 2024 — and you can complete each step within minutes. Here’s how
“Just like that, your house is stolen. It’s gone,” Larry Bilby told ABC reporters. “It only cost 70 cents and some paperwork.”
The Bilbys’ nightmare is not an isolated incident. Florida prosecutor Michael Lennon told reporters that Michelle Cherry and Victor Rodriguez targeted several local properties, making multiple trips to the county clerk’s office.
Using forged signatures on fraudulent quitclaim deeds, the couple claimed ownership of at least three properties in the Tampa area. Both Cherry and Rodriguez were arrested and charged with conspiracy to commit fraud and are awaiting trial.
A quitclaim deed is a legal document used to quickly transfer ownership of a property from one person to another. It releases a person’s ownership of a property without specifying what their rights or interests were.
Typically, quitclaims are used to transfer properties without a sale — for example, when a parent gives the family home to their adult child. These deeds require minimal documentation, which makes them appealing to fraudsters looking to claim ownership of properties they have no legal right to.
In cases like the Bilbys’, scammers forge signatures and file these deeds at the county clerk’s office, effectively stealing the home by transferring ownership without consent. This tactic allows the scammer to secure loans against the property or even sell it to unsuspecting buyers.
Read more: Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead
Real estate fraud is a growing issue, and Florida officials are calling for legal changes to make quitclaim deed fraud more difficult. In the meantime, there are practical steps you can take to protect your property.
Leave a Comment