In Toronto now, but you know this is going to spread.
How organized crime has mortgaged or sold at least 30 GTA homes without owners' knowledge
Future of title insurance could be at risk if this real estate fraud trend continues
https://www.cbc.ca/news/canada/toron...edge-1.6719978
In most of these cases, the real owner and the buyer are protected from most of the losses incurred through the fraud by having title insurance.
But with title transfer and mortgage fraud claims skyrocketing, title insurer John Rider worries about the sustainability of providing this coverage in the long-term.
"We went from zero of those claims to now many dozens," said Rider, senior vice president of Chicago Title Insurance Company in Canada.
How thieves stole a Toronto condo and sold it for $970K
https://www.cbc.ca/news/canada/toron...ondo-1.6720439
What we know about 'stand-ins' used by organized crime to sell homes without owner's knowledge
https://www.cbc.ca/news/canada/toron...onto-1.6723441
Toronto police seek public's help after house sold without owners' consent
https://www.cbc.ca/news/canada/toron...tion-1.6704719
A Toronto police spokesperson declined to provide additional information about the case when CBC Toronto followed up.
The spokesperson said the force can't provide any advice on how the public can protect themselves from a fraud of this nature, but said this is not the victims' fault.
How to protect yourself from real-estate title fraud
https://www.cbc.ca/news/canada/toron...raud-1.6711615