Seller impersonation fraud has rapidly become one of the most alarming forms of real estate crime in the United States, targeting both commercial and residential property transactions. The practice generally involves a criminal posing as a legitimate property owner, using falsified identification documents and forged credentials to illegally transfer ownership to unsuspecting buyers. Ultimately, fraudsters steal the sale proceeds, leaving both the buyer and the rightful owner in legal and financial chaos. These schemes often involve “impersonating the actual owner and recording fake or forged documents in local land records,” resulting in equity loss, property theft, and costly litigation for victims.

After a winter marked by powerful winds and relentless rainfall, Illinois homeowners are entering spring with saturated soil, swollen waterways, and growing concerns about the potential for flooding. As the weather warms and seasonal storms approach, the threat of flood damage once again becomes a top concern.

As 2023 draws to a close, conducting an end-of-year title insurance review is crucial for real estate professionals and homeowners in Illinois, given the significant changes in title insurance regulations. A comprehensive overview of the key legislative changes impacting title insurance in Illinois this year is essential to stay informed and prepared.