EquityProtect has announced new partnerships with title companies across the country in an effort to bolster protections against deed and title fraud — a growing concern as real estate scams become more complex and harder to detect.
The company’s free title monitoring service alerts homeowners of any changes to their property’s title after a sale, allowing them to respond quickly to potential threats.
While the service does not prevent fraud, EquityProtect said it can help reduce the risk of long-term financial consequences by ensuring suspicious activity is caught early.
“Many property owners assume that title insurance fully protects their title, but unfortunately, it may not always safeguard against post-closing fraud,” Jon Dovidio, chief strategy officer at EquityProtect, said in a statement.
Dovidio noted that standard title insurance policies typically only cover issues that arise before a sale is finalized. The American Land Title Association (ALTA) Homeowners Policy — available in some states and for certain residential properties — may offer some coverage for post-closing issues like forgery or impersonation. But these protections are limited by eligibility rules and property type, Dovidio added.
To help fill these gaps, EquityProtect is working with title companies to offer enhanced monitoring tools that provide broader oversight for all property types, including commercial real estate and undeveloped land.
“Our premium preventative technology provides clients with continuous and comprehensive protection against deed and title theft — covering everything from raw land to skyscrapers. With EquityProtect, fraud is fraud, no matter what type of property it is,” Dovidio said.
Industry leaders have voiced support for stronger fraud monitoring measures amid concerns about increasing threats to property ownership.
“EquityProtect is one of the most unique and potentially game-changing solutions I have seen in my 30 years in the title industry,” said Al Alfonso, president of Pacific Coast Title Co.
“Deed theft is a growing concern as cybercrimes become increasingly sophisticated. It’s critical that property owners feel protected, and I believe EquityProtect is a powerful way to achieve that.”
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