Introduction
Title Defects: Understanding the Risks and Safeguarding Property Ownership
Title defects can be more than just clerical errors – they can have serious legal implications for property owners. These defects, such as unresolved liens or illegal property transfers, can impact ownership rights and the validity of a property title. In a world where real estate development pressures and urban expansion are on the rise, the importance of clear and secure property titles cannot be overstated.
This article explores the complexities of title defects and their potential consequences. We delve into the distinction between a title and a property deed, the common types of title defects, and the risks associated with issues like missing mortgage releases, title fraud, forged signatures, unseen encroachments, errors in public records, boundary disputes, and more.
We also highlight the significance of conducting a thorough title search and the role of title insurance in protecting against unforeseen defects. With the real estate market constantly evolving, it is crucial for property buyers and professionals to stay informed about the nuances of property titles and the protection mechanisms available.
Join us as we navigate the intricate world of title defects and provide insights and strategies to ensure the safeguarding of property ownership rights.
What is a Title Defect?
Title defects can arise as complex issues, often with real-world consequences for owners. These flaws are not just administrative mistakes but potentially significant legal deficiencies that can affect ownership rights and the legitimacy of a deed. For example, Orlando Capote's ongoing battle in Coral Gables, Florida, exemplifies the struggle homeowners can face when discrepancies in property ownership arise amidst real estate development pressures. His residence, a Mediterranean-style estate passed down from his parents, exemplifies a scenario where the integrity of ownership rights is challenged by the pressures of urban growth.
Grasping the difference between a name and a land ownership document is essential. An official designation signifies legal ownership and is not a tangible record, whereas a deed is the physical legal document that registers who possesses the official designation. Being in possession indicates that you are the rightful proprietor of a possession, however without your name or the name of your organization on the document, you do not possess legal ownership, irrespective of whether your name is on the deed. This differentiation is crucial, and complexities can occur when the designation is not properly transferred or documented, resulting in what is referred to as 'entangled ownership' or 'inheritors' possession,' particularly when a possession is inherited over multiple generations without definitive legal paperwork.
In 2022, First American Financial Corporation, a prominent provider of settlement, risk solutions, and property transfer services, reported total revenue of $7.6 billion, highlighting the importance of the transfer industry in property transactions. Companies such as First American play a crucial role in managing the intricacies of ownership rights, utilizing cutting-edge technologies and extensive data assets to guarantee that ownership rights are clearly defined and safeguarded.
The significance of transparent ownership rights is additionally emphasized by news reports, such as the intrusion of the Venezuelan crime gang Tren de Aragua into real estate in Colorado and Texas. Such incidents emphasize the importance of a secure and unquestionable ownership of assets, a factor that insurance for ownership rights aims to protect against. Title protection provides an additional layer of security for individuals purchasing real estate, safeguarding against unforeseen issues with the legal ownership that could arise after a property acquisition.
As the land industry continues to change and instances like that of Orlando Capote's dwelling make headlines, it is crucial that land buyers and professionals stay informed about the subtleties of ownership titles and the safeguard mechanisms available through title coverage.
Common Types of Title Defects
Grasping the intricacies of ownership in the domain of real estate transactions is crucial. A document, separate from a deed, signifies the legal ownership of a real estate. While a deed is a tangible record that transfers the ownership, the concept is more abstractâit's the idea that you have legal possession and the right to utilize the asset. It's important to recognize that without being the titleholder, you do not possess legal ownership, even if your name is on the deed.
One must be watchful regarding title defects, which are essentially significant errors or legal issues that can invalidate or impede your claim to the real estate. These defects can arise from a variety of issues, such as unsatisfied liens or unlawful transfers, and can lead to financial losses. For instance, the chain of ownership - the recorded history of who has possessed the asset - may uncover a former proprietor neglected to resolve a claim, or an asset was transferred under suspicious conditions.
Considering these potential pitfalls, insurance for property rights emerges as a safeguard, offering protection against financial loss due to defects in the title. This insurance is not merely a precautionary measure; it's a reflection of the complex reality of property rights. While some countries boast centralized databases that provide definitive proof of ownership, others rely on a distributed approach, necessitating thorough searches for proof of ownership.
Thoroughness in handling searches is crucial for insurance companies, lenders, and law firms. The process can be intricate, with some documents being available online and others requiring in-person retrieval. Furthermore, inconsistencies in reports of the document's ownership across different vendors add another layer of complexity. However, advancements in exclusive ownership search technology and the knowledge of experienced ownership searchers are transforming this once burdensome process into a more efficient operation.
Title defects can have profound implications on the value of real estate. Just as the genuineness of an artwork, like a Rembrandt, can skyrocket its value from a mere $17,000 to nearly $14 million, the guarantee of a transparent ownership document can greatly impact a property's marketability and value. Therefore, acknowledging and dealing with ownership flaws is not only a question of legal procedure—it is essential to the fundamental nature and worth of possessing something.
Missing Mortgage Release
When a mortgage lien is not correctly released, it can cause a defect in the transfer or sale of a real estate. This lapse can be particularly problematic for buyers, who must verify that all prior mortgages have been adequately discharged to avoid unexpected claims. Such issues can lead to costly delays, as seen when a mortgage rate lock expires, which can result in a buyer being unable to secure the previously agreed upon interest rate, often leading to a scramble to renegotiate terms or find new financing. The impacts can extend beyond financial complications, potentially leaving buyers in limbo and unable to occupy their new home, as in the case of delayed closings. The housing market has seen remarkable examples where unresolved ownership disputes and legal flaws have resulted in substantial disruptions, like the actions of the Venezuelan criminal group Tren de Aragua, which has impacted both residential and commercial properties. The significance of thorough title research and the protection provided by title insurance become apparent in these scenarios, offering a safeguard for buyers against such oversights and the resulting complications they may encounter.
Title Fraud
Title fraud, a form of real estate fraud, is a critical issue that affects not only individual buyers but also the integrity of the real estate market as a whole. It involves illegal activities where fraudsters use forged documents, commit identity theft, or impersonate the rightful owner to unlawfully transfer ownership. One notable method is seller impersonation fraud, where scammers pose as legitimate owners and attempt to sell possessions they do not possess. These fraudulent actions can result in buyers losing significant investments, such as their down payments, if the deception goes unnoticed.
The danger of title deception has been rapidly rising, as indicated by a surge in these occurrences reported by property firmsâ73% of which have observed an increase in deceptive schemes. The U.S. Secret Service has even issued an advisory, alerting consumers to the uptick in seller impersonation fraud. High-profile cases have made headlines, demonstrating the audacity of fraudsters; for instance, individuals have filed false documents to claim ownership of substantial properties, such as hotels, by satisfying only the minimal technical requirements for recording a deed.
Even professionals in the real estate sector are not immune to these threats. They are often the prime targets of impersonation and must remain vigilant, using best practices and innovative technologies to safeguard transactions. Despite these efforts, there is no fail-safe technology to completely prevent scammers from reaching buyers or industry professionals. Continuous education and communication throughout the transaction process are essential to mitigate risks.
The consequences of fraud are not restricted to financial losses; legal repercussions also follow. Individuals found guilty of wire fraud, a common charge in such cases, face severe penalties, including prison sentences. This emphasizes the gravity of fraud regarding titles and the requirement for robust preventive measures, including thorough verification of document titles and collaboration with reputable insurance companies. Proper measures and awareness are vital to safeguard all parties involved in real estate transactions from the damaging effects of fraud.
Forged Signatures
The harsh truth of ownership defects often emerges unexpectedly, casting a shadow over what should be a solid chain of possession. In a distressing case from New Orleans, David Bryan and Annemarie Ellgaard, who were looking forward to retiring in their dream home, were blindsided by a $45,000 loan statement for renovations they never commissioned. The loan, acquired through forged documentation, starkly illustrates the vulnerabilities in property ownership records. Such instances of fraud can have a domino effect, compromising the legitimacy of the entire ownership lineage. Title insurance entities like FCT highlight the frequency of these occurrences, noting an attempt at title or mortgage fraud every four days, with a staggering $539 million in mortgages and transfers deemed too suspicious to insure in recent years. Moreover, the property industry's vulnerability to deception is amplified by the significant possible gain for wrongdoers, which greatly surpasses the benefits of alternative types of identity theft.
The rise of seller impersonation fraud, where scammers pretend to be legitimate owners to sell properties they do not possess, intensifies the risk, resulting in potential losses of substantial down payments. This kind of scheme has experienced a significant rise, with the Secret Service issuing alerts and property experts reporting a 73% increase in such deception since the beginning of the year. As fraudsters innovate, so too must the countermeasures. For instance, leveraging digital identity verification techniques that surpass traditional document examination has become essential. Regulatory authorities are also stepping up, mandating increased vigilance and the adoption of multi-factor authentication to thwart these nefarious schemes. The dedication to protecting titles is apparent, with organizations utilizing certified fraud examiners committed to identifying red flags in transactions, highlighting the significance of advanced cybersecurity strategies and tools to guard against the changing landscape of threats in real estate transactions.
Unseen Encroachment and Easements
Property buyers may be unaware of encroachment issues or existing easements that can significantly impact their ownership rights and enjoyment of their new home. Encroachments can range from a simple fence line discrepancy to more substantial structures built by neighbors or previous owners that infringe on the land. Easements, on the other hand, are legal agreements allowing certain uses of the land by non-owners, such as utility companies or the public. These can lead to limitations on how the land can be used or modified.
The significance of conducting thorough research before making a purchase cannot be overstated. As exemplified by the story of Carla B. Monteiro, who became a homeowner after overcoming the challenges of eviction in her youth, comprehending boundaries and rights regarding real estate is vital. Similarly, Orlando Capote's resistance to developers in Coral Gables underscores the value of knowing and asserting one's ownership rights amidst external pressures.
Recent events further highlight the potential severity of encroachment issues. The Venezuelan crime gang Tren de Aragua's occupation of estates in Colorado and Texas exemplifies the extreme consequences that can arise from unchecked encroachments, including legal disputes and diminished estate value.
To protect against these issues, buyers should invest in a thorough survey and title search. Such due diligence can reveal hidden encroachments or easements that might otherwise go unnoticed. In the event of a conflict, owners have recourse through the legal system, as observed in the case of Alexandria residents who successfully brought their concerns to trial.
In the complex landscape of real estate transactions, understanding the history and potential complications of a real estate asset, such as those faced by the North Carolina home featured on 'Hoarders,' can inform better decision-making. By being proactive and well-informed, buyers can protect their investments and ensure their peace of mind.
Errors in Public Records
Public record inaccuracies can originate from clerical errors, incorrect data entry, or gaps in information, potentially leading to title defects that may dispute ownership. With 3,144 counties across the United States, each with its own tax collection and record-keeping systems, challenges in maintaining uniform and accurate records are considerable. For instance, some jurisdictions might necessitate a physical visit for record access, while others offer limited data through online platforms. The intricacy of obtaining tax information varies greatly, not only among states but also within counties of the same state.
To protect against ownership issues, purchasers must confirm that public records accurately depict the current ownership status of the real estate. Interacting with platforms such as Real Property Wealth Network, which offers comprehensive property information for a charge, could assist buyers and professionals in conducting comprehensive research. However, it's essential to recognize that access to comprehensive datasets often comes at a significant cost, and not all information may be readily available without individual subscriptions.
Ben Fractenberg from THE CITY highlights how New York City's Automated City Register Information System (ACRIS) enables residents to investigate various building data. Similarly, purchasers must make use of accessible resources to guarantee that the ownership of their potential residence is free from flaws. The importance of meticulous record examination is underscored by a case where PogoData faced a lawsuit for allegedly failing to comply with privacy laws, demonstrating the delicate balance between public record accessibility and individual privacy rights.
For real estate practitioners, it is essential to stay informed about the latest laws regarding real estate, such as the 2024 Real Estate Law, to comprehend the complexities of ownership and transfer, including taxes associated with transferring and their impacts on transactions. With technology advancements and learning opportunities in GIS, database management, and programming languages, professionals can enhance their ability to navigate and analyze complex data related to assets, a skill that proves invaluable in ensuring accurate and reliable title research.
Boundary Disputes
Boundary disputes can often evolve into complex legal challenges, with buyers potentially facing unexpected obstacles. These disagreements are not rare and can involve disputes over the exact boundaries of a land. An illustrative case is that of Carla B. Monteiro, who, after years of diligent saving and education through Massachusetts Affordable Housing Alliance's home buyer classes, purchased a multifamily home in Dorchester in 2010. One of the things that greatly appealed to her was the spacious, enclosed yard. However, such features can also be sources of contention if not properly verified. Monteiro ensured she did her due diligence by confirming the inclusion of the entire fenced area with both her agent and the seller's agent.
The significance of comprehensive research and understanding of rights was reiterated in a statement advising individuals to 'do their research and find out what their rights are and advocate for themselves.' This proactive approach is critical in avoiding or resolving disputes that can arise from unclear boundaries. Furthermore, a recent significant decision in the housing sector emphasized the changing character of transactions and the possible influence on how commissions are managed, additionally emphasizing the requirement for buyer awareness and self-advocacy.
In the broader context, the real estate market is witnessing substantial growth and development worldwide, with customer preferences and macroeconomic factors driving positive trends. Potential homebuyers look for residences that offer convenience, amenities, and sustainable features. However, financial barriers remain a significant hurdle, as evidenced by statistics indicating that while a significant percentage of non-homeowners aspire to purchase a home, only a fraction of those who set out to buy a home in the previous year were able to achieve that goal.
Given these dynamics, it is increasingly crucial for buyers to thoroughly examine potential boundary issues before buying, guaranteeing a complete comprehension of boundaries and ownership to avoid future conflicts and legal complexities.
Consequences of Not Addressing Title Defects
Neglecting the existence of defects can result in a predicament of legal and financial concerns for buyers of real estate. For example, when an unmarried couple buys a real estate without a formal arrangement, the distribution of assets during a separation can become contentious. Joshua Martin of Atticus Home Buyers emphasizes the importance of legally binding agreements to pre-empt these disputes. Moreover, unexpected visitors and fraudulent claims, as reported in the case of a homeowner who faced threats due to the property's history, exemplify the unpredictable nature of title defects.
Seller impersonation fraud is increasing, with 73% of property firms witnessing a surge in such incidents, indicating a clear danger to unsuspecting buyers who may lose their investments. John Tracy from FCT Canada observes that real estate is a lucrative target for fraudsters due to the high-value transactions involved. Distressingly, title and mortgage fraud are increasing, with victims frequently caught off-guard, as in the case of homeowners who find unauthorized mortgages on their assets.
'Heirs' assets, a term for assets inherited informally without legal documentation, poses a significant challenge, particularly in low- to moderate-income communities. Diane Tomb, CEO of the American Land Title Association (ALTA), emphasizes the need for awareness and action to safeguard generational wealth. Alarmingly, a mere 34% of Americans possess an estate plan, according to a 2023 Caring.com survey.
The use of LLCs for property ownership has surged post-recession, with nearly 15% of landlords opting for this vehicle by 2015—a stark rise from 8% in 1991. Finally, insurance for property ownership, as a protective measure, cannot be overstated. First American Financial Corporation, a prominent provider in the field, emphasizes the significance of comprehensive solutions in today's digital and data-driven real estate landscape.
In summary, the potential impacts of failing to address defects in ownership are multifaceted and can have far-reaching consequences, from legal disputes to loss of assets. It is crucial for buyers to be watchful and seek suitable measures such as insurance for protection against such risks.
Financial Losses and Potential Litigation
Ownership of real estate comes with the inherent right to use, enjoy, and transfer the asset, yet defects in legal ownership can unexpectedly hinder these rights, leading to potentially significant financial setbacks. Defects can arise from a range of issues, such as unresolved liens or unlawful transfers of ownership. These complications may require expensive legal intervention, conflict resolution, or remedying of the defects in ownership. In the worst-case scenario, severe defects could render a property unmarketable, implying that it cannot be sold, and the buyer could lose their investment altogether. Moreover, litigation to unravel complex ownership issues can amplify these financial burdens, making a robust defense against such risks critical.
To protect against these risks, insurance emerges as a crucial tool. It is a distinctive, one-time acquisition made at closing that not only offers protection against the financial impact of ownership defects but also actively works to guarantee a clear ownership right from the beginning. Title insurance companies, leveraging extensive experience and resources, strive to preemptively resolve potential issues, resulting in a lower claims rate compared to other insurance types. Regardless, approximately one-third of all insurance claims arise from complications that are not apparent in public records. In situations where a claim arisesâsuch as an undisclosed heir making a claim to the real estate or an outstanding repair billâtitle insurance stands as a shield to safeguard the homeowner's ownership rights and cover the financial liabilities involved in settling disputes. As the real estate market changes and new waves of home purchases and refinancing transactions happen, the significance of comprehending and utilizing insurance for protecting ownership rights becomes more and more crucial for buyers.
Impact on Property Marketability and Financing
Title defects can have a significant impact on both the marketability and the financing options for a real estate asset. For example, lenders generally hesitate to approve loans for real estate burdened by unresolved ownership problems, thus complicating the procedure for prospective purchasers to acquire mortgages. Furthermore, the existence of defects in the ownership document can serve as a deterrent for potential purchasers, adversely affecting the market value and overall attractiveness of the property. This is underscored by the extensive experience and data reported by First American Financial Corporation, a leading entity in the insurance sector for property ownership, which highlights the importance of addressing ownership issues promptly. Taking into account First American's reported $7.6 billion in revenue for 2022 and its involvement in the digital transformation of the industry related to property ownership, the company's insights reflect the significant impact that defects in property titles have on transactions. Furthermore, recent news has brought to light cases where real estate entities faced legal challenges due to alleged unfair practices, emphasizing the critical nature of transparency and adherence to legal standards in property research and insurance.
Steps to Resolve Title Defects
When resolving defects in property ownership, it's crucial to undertake a thorough and collaborative approach with professionals in the field. The process often starts with a thorough examination of the document, identifying any inconsistencies or legal claims that may cloud ownership. This step is similar to how meticulous checks are performed in various sectors, as evidenced by a recent legal settlement requiring substantial corrections to a defective product—a website developed for the California Department of Parks and Recreation. Such due diligence could prevent costly litigation, as seen in the case where a small town triumphed over a real estate behemoth, securing a substantial settlement by remaining steadfast in their legal pursuit.
The identification of defects in the ownership documentation necessitates careful examination, similar to scrutinizing surveillance footage that resulted in the exposure of a vehicle theft and a subsequent imperfection in the process of assigning legal ownership by the Virginia DMV. In this instance, the stolen vehicle was mistakenly titled due to a delay in its listing within the National Crime Information Center database. This emphasizes the significance of timely and precise data entry and verification to avoid granting ownership rights on stolen or disputed assets.
To guarantee the authenticity of a document, it is crucial to understand that a document, signifying the lawful possession of an asset, varies from a deed, which simply states the owner's name. A document is not a physical record but a concept confirming one's legal ownership. This differentiation is crucial, as having a designation means you have the privileges to the asset, whereas without it, your ownership assertion may be susceptible.
Comprehending the intricacies of ownership privileges entails more than simply being aware of who possesses the deed. It delves into the intricacies of easements, encroachments, and restrictive covenants. As expressed by a leading voice in property rights, 'Title in property is the aggregate of rights, commitments, and contracts which make up an ownership claim.' This extensive comprehension is crucial in resolving defects in ownership.
In the constantly changing world of property, technology plays an increasingly important part. Companies like Pippin have transformed the search process by integrating cutting-edge technology with expert searchers, exemplifying the shift toward more efficient and reliable methods. With the property market experiencing digital transformation, such advancements provide efficient solutions for searching property ownership, emphasizing the significance of embracing contemporary approaches in resolving property ownership issues.
Importance of Conducting a Thorough Title Search
Completing a thorough search is a crucial step in protecting against defects when acquiring real estate. This investigation scrutinizes a multitude of public records, historical documents, and legal instruments to map the property's ownership lineage. Hiring a skilled researcher or attorney is crucial for a comprehensive examination, as they are proficient at identifying any defects or issues that may complicate ownership.
Pippin Title's innovative approach demonstrates the modernization of this process by utilizing exclusive technology along with a skilled network of searchers. They have streamlined the search process, addressing common industry hurdles such as document accessibility and report interpretation, which historically required extensive manual effort and consultation with various vendors.
According to Sam Trimble of Fidelity National Financial, the title insurance industry is shedding its outdated image by integrating technology. The utilization of artificial intelligence and machine learning is set to transform the industry, with companies like Pippin Title spearheading the effort by automating data accessibility for property transactions.
In the context of property sales, the significance of pinpointing exact property lines through a land survey cannot be overstated. A land survey delineates the boundaries and features of the land, which is crucial for preventing disputes and clarifying ownership rights. This is particularly important as buyers often require detailed boundary information during the sales process.
Additionally, guaranteeing that the ownership is clear of encumbrances and precisely documented is a crucial measure, as emphasized by property experts such as Gelios and Linda Schroder. The value of a skilled real estate agent also becomes apparent in their ability to navigate the complexities of the local market and provide guidance on all aspects of the sale.
As the industry continues to evolve, understanding the intricacies of title searches and utilizing the latest technologies will be increasingly important. Companies like Pippin and forward-thinking professionals within the industry are setting new standards for efficiency and security, thereby enhancing the buying experience.
Role of Title Insurance in Protecting Against Defects
Title insurance stands as a critical safeguard for buyers, offering not just financial protection but also peace of mind. Upon acquiring property, the buyer obtains ownership, giving them the rights to utilize, sell, and retain the property. Nevertheless, documents can carry defects from past ownership, such as unsatisfied liens or illegal transfers, which can lead to financial losses. This insurance is a specialized policy designed to protect against such unforeseen defects in the ownership. Unlike other types of insurance, the insurance for property ownership is a single premium paid at closing, providing coverage for any pre-existing issues not identified during the search for ownership, and proactively working to resolve problems before they result in claims. This proactive approach contributes to insurance companies exhibiting lower claims rates compared to other insurance sectors. With real estate transactions evolving, companies like First American Financial Corporation demonstrate the industry's commitment to innovation, ensuring the integrity of property rights through robust risk solutions. As new buyers enter the market, comprehending the intricacies of insurance coverage becomes paramount, including its advantages and available discounts. Importantly, approximately one-third of all insurance claims arise from matters not documented in public records, highlighting the policy's worth. If any disputes regarding ownership occur, the insurance will provide coverage for the related financial obligations, thereby safeguarding the homeowner's rights to the premises.
Case Studies: Real-Life Examples of Resolving Defective Titles
Real-life incidents demonstrate the complex essence of resolving defects in ownership, offering professionals and buyers of real estate with crucial insights. For instance, a situation in Denver involved a van sold to an undocumented migrant, who could not register or insure the vehicle, leaving the seller amidst an unexpected dilemma. In the same way, because of a delay in the National Crime Information Center's reporting, Virginia's DMV unintentionally issued ownership documents for a stolen vehicle, highlighting the importance of conducting comprehensive verifications prior to granting new titles. Moreover, a buyer from Carvana discovered that his newly purchased Ram 1500 Big Horn truck was stolen property only after the purchase, highlighting the significance of strong ownership verification processes.
These scenarios highlight the importance of insurance as a protective measure against such unforeseen complications. First American Financial Corporation, with a revenue of $7.6 billion in 2022, is leading the way in offering comprehensive settlement and risk solutions, showcasing the industry's dedication to innovation and digital transformation. Furthermore, initiatives like Pippin's proprietary title search technology showcase the industry's efforts to modernize the title search process, making it more efficient and interpretable for all stakeholders involved.
The increase in seller impersonation fraudâa scam where criminals pretend to be property owners to sell properties they don't ownâhas been a significant concern, with 73% of property firms reporting a rise in these schemes. The advisory professionals' encounters demand increased alertness among customers. As such incidents become increasingly prevalent, the role of title insurance and thorough title research becomes paramount in safeguarding against potential losses and ensuring the integrity of real estate transactions.
Conclusion
Title defects have serious legal implications for property owners, impacting ownership rights and the validity of a property title. It is crucial to understand the distinction between a title and a property deed, as complications can arise when the title is not properly transferred or recorded. Conducting a thorough title search and obtaining title insurance are essential steps to protect against unforeseen defects.
Common types of title defects include missing mortgage releases, title fraud, forged signatures, unseen encroachments, errors in public records, and boundary disputes. These defects can cause delays, financial complications, and hinder property marketability and financing. Resolving title defects requires collaboration with professionals, involving meticulous title searches and leveraging modern technologies.
Failing to address title defects can lead to legal disputes and financial losses. Therefore, it is crucial for property buyers and professionals to be informed and take proactive measures. Title insurance plays a critical role in protecting against title defects, offering financial protection and peace of mind.
In conclusion, understanding the complexities of title defects and taking proactive measures, such as thorough title searches and obtaining title insurance, are crucial for property buyers and professionals. By staying informed about property titles and protection mechanisms, individuals can safeguard their ownership rights and ensure the integrity of real estate transactions.
