Q: It seems like we get scam calls or emails daily and with so much written about scammers these days, I can hardly believe anyone could fall for these tricks! My neighbor, however, recently received an offer from a “records office” where she can pay them $100 to get a copy of the recorded deed to her house. I told her she can get her deed from the county recorder for much less or even free — who is right?
A: Well, you both are partly right. When we buy real estate, a deed is recorded at the county recorder’s office. This is a public record and anyone can obtain a copy by contacting the recorder’s office or going there in person. Photocopies cost $2 per page and the document is normally a page or two in length.
If we later complete our estate planning, a new deed is usually recorded to retitle ownership of real estate to the new trust. This seems to be where services of this kind get involved. Local estate attorney, Joeseph Bileci, told me: “Fairly often, after I record a deed for a client, I will receive a communication to my office addressed to my client from the ‘local records office.’ It looks kind of official and basically offers to provide the clients with important property information for, in this case, $89. I have had at least one client that believed she was required to send the check because she thought it was an official document.” Bileci concluded by saying, “The title ‘local records office’ and the tone and format of the letter could be confusing.” Like most attorneys, Bileci provides copies of recorded documents to his clients as part of his usual services.
While these records services may not technically be illegal, obtaining the document from your attorney or county recorder’s office is your best bet — and probably less expensive, as well!
Q: My father collected gold coins all his life. As he aged, “friends” and others were frequently in his home and, now that he is gone, all the coins and other collectibles are gone! Essentially the only thing left of value is his house. It is shameful that people steal from those who are cognitively declining.
A: I agree, it is unconscionable to steal from or otherwise take advantage of others but, as we know, it happens all the time. Because of their portability, collectibles are usually the first things to go missing in a situation like your father’s. Interestingly, real estate and bitcoin share similar “public governing” aspects which provide certain protections from theft. Real estate title is recorded in public records so, along with county employees, title is or can be monitored by the public. Similarly, bitcoin is a block chain ledger seen by the users of the system. Unlike real estate, owner’s names are not revealed, but transactions and holdings in bitcoin are and can thereby be monitored and held in check “by the public.” It is interesting that, as a group, the public may keep real estate and bitcoin honest, so to speak. I submit that as a group people tend to be honest and it is the few, lowly outliers who look to unjustly enrich themselves at the expense of others.
Liza Horvath has over 30 years’ experience in the estate planning and trust fields and is the president of Monterey Trust Management, a financial and trust management company. This is not intended to be legal or tax advice. Questions? Email liza@montereytrust.com or call (831) 646-5262.
