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Vallone shoots to protect homeowners from deed fraud

A Bayside elected official is taking a swing at deed fraud a month after the Queens DA’s office indicted two real estate development companies, one of which headquartered in Bellerose, and 11 individuals for allegedly scamming poor and elderly residents out of their homes.

City Councilman Paul Vallone (D-Bayside) introduced a resolution urging the state to pass legislation requiring all deed conveyances to be recorded in the county clerk’s office where the transfer takes place and all the parties notified.

“Deed fraud is a rapidly growing crime that targets our most vulnerable citizens, especially our seniors, whose homes are often their biggest assets. Our current system makes it absurdly easy for someone to fraudulently record a deed,” Vallone said. “What’s worse is that once a fraudulent deed is processed, the only recourse for the rightful owner is to hire a lawyer and undergo an arduous, lengthy and expensive legal process to attempt to reverse it. This legislation would be an important first step in preventing any fraudulent deed transfers and protecting our most important asset, our home.”

According to Vallone, recording deeds would give the city Department of Finance the opportunity to flag any irregularities and contact law enforcement for investigation when necessary. If a deed transfer turns out to be fraudulent, law enforcement could act before any serious damagewas done to the victim.

See Full Article at TimesLedger