3 Men Caught Stealing Houses Using A Quit Claim Deed Scam

[James Wise]

In the 6th episode of The Landlords From Hell Show we discuss the dangers of a real estate scam revolving around the use of quit claim deeds. A quit claim deed is used to transfer the ownership interest of a property from one party to another. But, unlike a warranty deed, a quit claim deed doesn't typically involve a title search or a title insurance policy. A quit claim deed only transfers the interest that the seller has, and that interest could be subject to liens on the property that the buyer now assumes. Using forged quit claim deeds authorities allege that Dwayne Mitchell, David Garner & Marquis Lomax stole several houses in Cleveland, Ohio and tried to illegally sell them to unsuspecting buyers. This alleged fraud is believed to have involved the theft of more than a dozen homes.

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3 Men Caught Stealing Houses Using A Quit Claim Deed Scam

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[Peter Walther]

Quote from @Account Closed:

Quote from @Peter Walther:

Quote from @Account Closed:

@Peter Walther:  Understood and appreciated. 

I reference an actual case (6 years long, hundred thousand or more in legal fees) that occurred with a buddy of mine years ago.

The seller came back later, after selling, when the equity had risen substantially in the property and claimed he never signed the deed.

It was closed on a kitchen table, not in escrow. (Big mistake) Eventually in court, the seller admitted he had signed. I know the details of the suit but suffice it to say, I see the same mistakes being played out with some of Mr. Morby's Subto" community" students and those who think Subto can be done without training.

My belief (I'm biased, of course) is that anyone who tries to do Subject To without coaching is playing pitch & putt in a mine field. (You of course were commenting on QCDs not Subto, but this was done with a QCD, so it complicated the case.)

I know this isn’t you, but those that ARE saying coaching is not necessary and is a waste of time and money in Subto, (as in, “you can learn it as you go along”) are doing the newbies a great disservice with a significant risk.

One doesn’t find out what they did incorrectly until it’s a major problem for them. They will then be trying to catch falling knives. IMHO

 Agreed