Tennessee :: Real Estate Scam

Tennessee Secretary of State Tre Hargett has issued a warning to consumers about a possible real estate scam targeting homebuyers and sellers alike. The Secretary of State’s Business Services Division has received copies of notices recently sent to at least eight real estate companies stating that there are encumbrances against the titles of numerous residential properties. The notices come from a group calling itself “The French Trust,” and warn that legal action will be taken if anyone attempts to sell the properties.

The Secretary of State’s office has no knowledge of these issues even though they are referenced within in the notices. The concern is that people may assume the notices are legitimate and not realize that not only does the state have no involvement in this, they also do not regulate or enforce any restrictions regarding real estate or title transactions.

At this time, the state does not know what those behind these notices are trying to accomplish; however, they want to be sure that consumers know that the information in these notices is incorrect and they should not take any action until they have thoroughly researched what is being requested.

It’s easy to fall for these types of scams because they represent that they are either associated with the Secretary of State or are following state regulation when, in fact, they are not. Keep your guard up and question notices of any kind even if they appear legitimate. If you receive one of these letters, please contact the Secretary of State’s Business Services Division at 615.741.2286 or via e-mail at Business.Services@tn.gov.

Advertisements

One thought on “Tennessee :: Real Estate Scam

Add yours

  1. We are now seeing this same type of scam in the State of Kentucky. There does not seem to be a logical application for the “cease and desist” request for listing.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

WordPress.com.

Up ↑