Georgia Lawmakers Introduce A New Bill To Curb Homeownership Fraud

The bill would require homeowners to be notified if someone files a deed on their property.

Georgia Lawmakers have introduced a new bill that would help combat homeownership fraud.

WSB-TV reported that House Bill 427 would require notifications to deed owners if someone files a deed for their property. Once the records are presented to a clerk, the county superior court where the request is filed must notify the property’s owner within 15 days.

The owners will then receive a 45-day notice to confirm to the courts if the filing is legitimate or not. However, there is some leeway on whether current owners must have notification.

If filers can provide a notarized affidavit with their records or a notarized power of attorney letter, then they can have the courts forego the requirement. This notification would also extend to someone filing a mortgage or property line.

Five Georgia lawmakers co-sponsored the bipartisan bill. They hope the bill will ensure property rights for deed holders through this new process for authorization. This push comes amid concerns about fraudulent property transactions. With the notification requirement, property owners would be granted the ability to take action if they consider these records illegitimate.

During the Feb. 13 meeting that introduced HB247, opposers expressed concerns about the processes’ viability, as obtained by Citizen Portal. Despite this, supporters hope to safeguard property ownership through extra security measures. However, there lies a potential issue with administrative capabilities to do so.

Real estate fraud itself remains a prevalent issue. According to the CertifID’s newly released 2024 State of Wire Fraud study, almost 1 in four consumers claim to have faced fraud attempts during the real estate closing process. With buyers, sellers, and mortgage lenders at risk of impersonation, lawmakers are developing new ways to assure legitimate sales on all fronts.

While this legislation primarily helps those on the homeowner side, the bill seeks to reduce real estate fraud in general. Moreover, the bill’s potential passing hopes to improve public trust in secure property transactions.