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ARTICLE · 26 JUNE 2015

Real Estate Law Update, June 2015

Torkin Manes LLP
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Much has been written about the flags of mortgage fraud, with a description of flags often buried in articles not read very carefully.

CanadaReal Estate and Construction
Sidney H. Troister, LSM
Sidney H. Troister, LSM
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FLAGS OF MORTGAGE FRAUD

Much has been written about the flags of mortgage fraud, with a description of flags often buried in articles not read very carefully. In the interests of brevity, and as a tool for you and your staff to have a ready simple guide, here are some of the most common flags of fraud. For a more detailed explanation, see my papers on real estate fraud in the 2014 and 2015 Real Estate Summit materials.

1. Things not called for in the agreement of purchase and sale including:

  • deposits "paid" but not called for by the agreement of purchase and sale; even if you see cancelled cheques or receipts for the payments, uncalled for payments made are a flag of fraud.

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