In a move targeted at combating real estate fraud, Sen. David Bullard, R-Durant, has ushered Senate Bill 961 through the Senate Local and County Government Committee, addressing a growing concern over deed theft in the state, a scheme where fraudsters lay claim to property by filing falsified deeds. The bill, as described on the Oklahoma State Senate website, insists on notifying original deed holders when a new deed is recorded, intending to preempt the fraudulent behaviors.
Sen. Bullard highlighted the pressing nature of this crime, noting how it specifically targets the vulnerable and the elderly, "These criminals are preying on vulnerable, elderly homeowners who don’t realize their property is being sold out from under them," he explained, with perpetrators profiting from the sales and leaving the rightful owners to grapple with loans for property no longer in their possession, as stated in the Senate's press release. Bullard's proposed legislation aims to not only notify homeowners of changes to their property status swiftly but actively engage local law enforcement in the event of suspected fraudulent activities; further refining the legislative measures is a collaborative process involving county clerks, abstractors, and other related professionals to encapsulate a more comprehensive solution, as detailed by the Oklahoma State Senate.
The bill, now primed to be deliberated by the full Senate, positions itself as a safeguard for property owners, a bulwark against deceitful transactions that surreptitiously wrench away one's tangible certainties—the land and home they have cultivated and cherished. In this legislative response, there is a recognition of property as more than an economic asset but as a foundational element of security and identity.
Indeed, Bullard's commitment to the issue is made explicit by his assertions that the bill is very much a work in progress, and he is welcoming contributions from individuals spanning various sectors associated with land ownership and real estate, such as county clerks, abstractors, closing companies, land and title groups, "We must stop deed theft before it happens, rather than notifying homeowners after the fact," Bullard said, exhibiting a proactive stance that suggests prompt notifications must be a stitch in time to save the broader tapestry of homeownership from unraveling at the hands of opportunistic criminals. The collaborative meetings and discussions are seen as pivotal stepping stones to eventual legislation that could clamp down on property title fraud, as per the Oklahoma State Senate.
