Cuomo Signs Deed Theft Bill, Residents Doubt It’s Enough

In part one of our series on deed theft, we outlined the differences between Third Party Transfer and deed fraud. In this second part, we are looking at new legislation, the “Deed Theft Bill,” which Governor Andrew M. Cuomo signed into law last Monday. 

Growing instances of deed fraud targeting the elderly, financially distraught and immigrant homeowners have swept through Central Brooklyn in recent years. The new bill is designed to curb such fraudulent behaviors and build a path for targeted homeowners to reclaim their property.

“We’re talking about homeowners, particularly of color, who have invested in their community,” said State Senator Velmanette Montgomery who represents the 25th District including Bedford Stuyvesant, Clinton Hill, Fort Greene and Crown Heights. “To have someone come along and steal the property, that means they are stealing wealth from people who have struggled in the first place.”

The “Deed Theft Bill,” co-authored by Montgomery and Assemblywoman Helene Weinstein, is a five-pronged approach to address the problem.

To read the full story, visit https://www.bkreader.com/2019/08/29/cuomo-signs-deed-theft-bill-residents-doubt-its-enough/