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Fraud Alert!!

HELP PREVENT FRAUD.  On February 2, 2011, Mayor Bloomberg issued a press release about a new program to help combat fraud in real property transactions.  Now owners of real property can have the Department of Finance notify them when certain documents have been recorded against their property. Owners will not receive notices of all documents recorded but will receive notices of recorded deeds, mortgages, and contracts.  For example, if someone fraudulently records a mortgage against a property the Owner will receive a notice.  In order to make this program work for you, you need to fill out an application on line or by mail.

There are no application fees.  The notice will be effective until you cancel it.  If the City notifies you that a document has been recorded against your property you should verify that document is accurate by viewing it on ACRIS .  If it is a fraudulent document the City suggests calling 311 for a list of agencies you can call for assistance.  We think you should also immediately call your attorney.  Owners of co-op apartments are advised that if they apply for notification they will receive notices of filings against the entire building rather than just against their individual apartments.

For the Department of Finance memorandum explaining the details of this program follow this link.

Category: Fraud Prevention, News Comment »

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