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Committee advances bill to tighten title-fraud checks, raise penalties for elder victims
Summary
The Judiciary Committee advanced House Bill 426, which would require real-estate sellers to provide identification to agents and require online platforms to verify seller identity; the measure also creates felony penalties for title fraud and gives the securities commission enforcement authority.
Representative Lee told the Judiciary Committee that House Bill 426 aims to make it harder for criminals to steal property by fraudulently transferring or claiming titles. "This bill would make it more difficult for criminals to commit this kind of fraud," Lee said, describing a two-part approach that requires real-estate agents to obtain seller identification and requires online platforms to verify sellers' identities.
The proposal creates criminal penalties, including a class D felony for title fraud and a class C felony where the victim is older than 70, which the sponsor said falls under the elder-abuse enhancements. Representative Lee also said the securities commission would be given authority to enforce the act to centralize responsibility rather than scattering enforcement among multiple entities.
Lee described broad stakeholder input while drafting the measure, saying bankers, title agents, realtors, probate judges, county commissions, the office of the secretary of state, Zillow and trial lawyers were involved. Committee members had no substantive questions after the sponsor's presentation.
The committee adopted the substitute and then moved a favorable report as recorded in committee proceedings. The chair announced the bill received a favorable committee report.
