Title deeds fraudsters on the prowl
If you own a vacant or an unoccupied property in Zimbabwe my suggestion is verify if you still have title to that property. With the Zimbabwean property market being dominated by absent buyers, due to the over four million Zimbabweans now scattered all over the world, Zimbabwe’s fraudsters have found a niche in the market and are now using technology for identity theft and then executing title deed fraud.
Title deed fraud occurs when someone steals your identity, forges your name on a title deed, and takes title to your property. While it may seem that it should be a simple matter to get your home back after becoming a victim of deed fraud, nothing in the law is very simple. The costs involved are high and it is a very stressful process.
No property buyer wants to discover they have been involved in a fraudulent property buying transaction. But unfortunately in Zimbabwe, forged deeds and fraudulent title transfers are happening far more often than ordinary people believe. Title deed fraud is not a new idea but has been amplified by the use of new technology. This problem has been around for decades, most commonly with vacant properties and especially involving deceased property owners, but is now on the increase and populated due to areas with a large numbers of vacant, unoccupied properties, leaving property owners and investors at risk.
There are several ways that these fraudsters fraudulently acquire your properties. There is a perception that the real estate seller, the lawyer, is involved, but that is not always the case. The fraudster obtains a copy of your title deed, which consists of your name and national identity number. They use these details to embed them on a fake national identity (ID) card which is then produced as proof of ownership to an estate agent and as is the norm, real estate agencies work with lawyers.
The lawyer will verify the owner of the property with the deed office when there is a request for a sale. The details of the deed and the ID details will be identical. Using the same ID the fraudster opens a bank account which will receive the proceeds of the loot when a transaction is executed. With the duplicate national ID and bank account now set up in the owner’s name, this is then used to sell the house. When the property is sold to the new owner by the person impersonating you, the property title deed at the deeds offices is then updated making them the new legal owner. This is done without the owner of the property even knowing about it.
There are also corrupt real estate agents, lawyers and employees at the deeds office and this is common knowledge due the publications in the media over the years who are participants in these criminal activities. If you own or are in the process of buying a property you could potentially be targeted, but some homeowners are more at risk than others. You are more at risk of title deed fraud if your property is left vacant or the property is rented out while you live overseas and it does not have a mortgage against it and your identity has been stolen and is not registered with the deeds office.
Savvy fraudsters are able to forge documents, commit fraud, and steal the title deed to your property, sell the property to someone else and reap the proceeds. They sometimes use their fraudulent ownership to access a lending tool and extract the home’s equity, leaving you in debt that may lead you to death due to the stress involved. There is no better time to check if you still own your property than now, title deed fraudsters are on the increase.
For more details please call/whatsapp +263772278161 or email jkmutisi@hansole. org
Mutisi is the CEO of Hansole Investments (Pvt) Ltd and the current chairperson of Zimbabwe Information & Communication Technology, a division of Zimbabwe Institution of Engineers.