Man Buys Home From Fraudulent “Owner”

 Posted on August 26,2022 in Real Estate Law

The process to purchase a home can be financially and legally complex. A home may also be one of the largest investments you ever make. This is why it is so critical to have a seasoned Connecticut residential real estate attorney representing you to make sure you are protected in the event of any issues, like the almost financially catastrophic experience that one Connecticut homebuyer recently went through.

Who Is the Real Owner?

According to Newtown, CT police, last year, the buyer discovered an uninhabited home located on Lake Zoar that he thought would be a good investment. He did some research to find the current owner. He was able to obtain the owner’s name through town records but the only contact information on record was a post office box. The man did an online name search and found three people who could potentially be the owner of the property.

He called the first number, which was disconnected. When he called the second number, the voice on the other end confirmed he was the owner of the property. The man agreed to sell the home and the two entered into a cash deal for $65,000. The buyer’s name was added to the deed of the property and he was now listed as the new homeowner.

Except legally, he actually was not.

When the buyer begin making renovations to the home, neighbors became suspicious and contacted the actual owner of the property, who discovered his name had been removed from the deed.

Police were contacted and an investigation revealed that the fake seller did have the same first and last name as the real owner, but their middle initial was different. This was not caught during the closing when he produced his state ID. The man pretending to be the owner has been charged with second-degree money laundering, second-degree forgery, criminal impersonation, first-degree identity theft, and first-degree larceny.

Fortunately, the buyer had title insurance and will be able to get his money back. And in an ironic turn of events, the real owner of the property did sell the would-be buyer the home so he is now the official and legal homeowner.

Contact a Stamford, CT Real Estate Attorney

Although this case is somewhat unique in its circumstances, it does highlight why it is so important to have a skilled Fairfield County real estate lawyer overseeing your home purchase. An attorney will ensure that due diligence is performed on all aspects of your purchase. If you are thinking about purchasing a home, call Law Offices of Daniel P. Weiner at 203-348-5846 to ensure your transaction goes as smoothly as possible.

Source:

https://www.nbcconnecticut.com/investigations/nbc-ct-responds/southbury-man-describes-buying-home-from-man-accused-of-not-owning-property/2847213/