Similar to will forgery, deed forgery is still a problem today. In fact, it is a growing problem, as forgers have the information and access they need through online land records. While online land records have greatly simplified real estate closings, this is one downside. County recorders are unable to stop these forged deeds, as they are legally required to record all deeds that are appropriately formatted.
Many counties have deed recording alerts that alert property owners to documents recorded against their name or property. However, many counties do not offer this service, leaving property owners unaware of these forged or fraudulent deeds, until they receive an eviction or foreclosure notice. As such, we are offering a Title Watch service to inform you about potential forged or fraudulent deeds recorded in your name or against your property. Please visit us at https://plathq.com
(1) Interesting connection to the original story. This is the sort of not-exactly-an-ad-because-it-is-related mention that I find cool about Hacker News.
(2) Let me see if I get this right: you offer a service that simply monitors deeds and mortgages recorded against a specific plat and sends an alert to to the subscriber if something is recorded (which is an extremely rare event). And you charge $10/month/property for this service? What about the problem makes it so expensive? Why aren't you likely to be disrupted by someone like Zillow offering this $10/month service for FREE (and making money off the address list they develop from it, plus advertising to all the homeowners)?
Glad you liked the “not-exactly-an-ad-because-it-is-related mention.” While the probability of a forged deed is relatively low, the impact is not. In addition to the risk of a thief just forging a deed to a property they have no connection to, there is also the risk of intra-family deed/mortgage forgery. This intra-family forgery is likely substantially underreported, and causes the family to lose the property it has acquired through hard work because of one bad apple.
In addition, people are (rightly) highly risk-averse about anything that affects their family, their home, or the assets that they built over years and decades. For example, real estate investors commonly put their property into an LLC (which costs $800/year in CA) or buy liability insurance, even though the probability of incurring a large liability is low.
With respect to costs, even though land records are public, machine-parseable title/recorder data is expensive. Data from the tax assessor (even machine-parseable) is relatively cheap, but is not as complete as recorder data. For example, it does not have mortgages. We intend to achieve economies-of-scale with respect to recorder data. At that point we intend to offer additional value at the same price (for example, insurance) and add a free-but-sell-leads service.
Many counties have deed recording alerts that alert property owners to documents recorded against their name or property. However, many counties do not offer this service, leaving property owners unaware of these forged or fraudulent deeds, until they receive an eviction or foreclosure notice. As such, we are offering a Title Watch service to inform you about potential forged or fraudulent deeds recorded in your name or against your property. Please visit us at https://plathq.com