New York Governor Kathy Hochul signed into effect a new law yesterday, designed to protect homeowners from deed theft through fraud.
Deed theft through fraud occurs when someone transfers ownership of a property from the rightful owner to someone else through intentional deception.
The fraudulent act can take many forms: it could be elaborate and perpetrated by a number of bad actors, tricking a vulnerable homeowner into selling or transferring their property for less than fair market value, or it could be as simple as forging a signature on a deed.
The new legislation authorizes the Attorney General and local District Attorneys to investigate and litigate deed theft. It also allows the courts to pause related foreclosure, eviction, and ownership dispute proceedings, and to void fraudulent deeds and sales.
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