Deed theft disproportionately targets seniors and Black homeowners

Kohanowski notes that seniors are often targeted due to diminishing capacity and significant home equity, especially in high-value markets like New York City. For Black homeowners and other historically marginalized communities, a lack of access to information and legal resources, stemming from past discriminatory practices like redlining, makes them particularly susceptible. These communities often hold properties with substantial equity that have rapidly gentrified, presenting an opportunity for scammers.

Real estate agents and title agents are urged to be vigilant for warning signs, including "potted plant lawyers" who collude with perpetrators and forged deeds. Direct communication with homeowners and purchasers is crucial to prevent fraudulent transactions.

New York City's new Deed Theft Prevention Office aims to coordinate efforts across law enforcement and civil legal service organizations, building on existing programs like the Homeowner Protection Program. Kohanowski highlights that heirs' property transactions, where multiple family members inherit a property without a clear estate plan, are a significant area where wealth is lost due to these predatory schemes.

Kohanowski also points out that New York City's public and searchable land records are a valuable tool for advocates, though data fragmentation remains a challenge in other jurisdictions.