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The Property Registration Authority (PRA) has launched a new Property Alert Service to help property owners protect themselves against the risk of property fraud. Property fraud can occur where property is fraudulently sold or mortgaged.
The Property Alert Service is a new, free, online service available to the public that will allow property owners to monitor registered properties for possible fraudulent activity.Users of the service will receive email and/or text alerts when an application has been lodged with the PRA to update the Land Register.
While the new alert system will not prevent fraud from happening, this service provides an early warning system that will allow owners to take appropriate action should they believe fraudulent activity has happened with their property.
Liz Pope, Chief Executive of the PRA, said:
“Our new Property Alert Service is being introduced to protect those more vulnerable to the risk of property fraud and the Land Register. Property is often the most valuable asset that people own. It can be sold and mortgaged to raise money and can therefore be an attractive target for fraudsters. We know that typically property is more at risk if it is rented out, empty, mortgage-free or not registered on the Land Register. We are encouraging members of the public who own such properties to sign up to the new Property Alert Service and in so doing add another layer of protection to their property.”
The Property Alert Service is free, simple, and easy to use. In order to sign up, go to: www.landdirect.ie
For further information, please see www.prai.ie