Gina Leto

And this kind of theft is increasingly common. The FBI says they've seen more than a thousand of these cases all over the country in the past few years, as more real estate transactions happen online. Someone owns a piece of land that they're not keeping close tabs on, someone else impersonates them, and no one involved in the sale even notices.

And this kind of theft is increasingly common. The FBI says they've seen more than a thousand of these cases all over the country in the past few years, as more real estate transactions happen online. Someone owns a piece of land that they're not keeping close tabs on, someone else impersonates them, and no one involved in the sale even notices.

And this kind of theft is increasingly common. The FBI says they've seen more than a thousand of these cases all over the country in the past few years, as more real estate transactions happen online. Someone owns a piece of land that they're not keeping close tabs on, someone else impersonates them, and no one involved in the sale even notices.

But he didn't. And neither did the realtor who made the listing. They kind of left all that responsibility to the title insurance company, the one that Gina paid $1,398 to check the title. But was fake Daniel their responsibility? We called the title insurance company, and they said no. They were looking for defects in the title. Identity fraud? That wasn't something they were scanning for.

But he didn't. And neither did the realtor who made the listing. They kind of left all that responsibility to the title insurance company, the one that Gina paid $1,398 to check the title. But was fake Daniel their responsibility? We called the title insurance company, and they said no. They were looking for defects in the title. Identity fraud? That wasn't something they were scanning for.

But he didn't. And neither did the realtor who made the listing. They kind of left all that responsibility to the title insurance company, the one that Gina paid $1,398 to check the title. But was fake Daniel their responsibility? We called the title insurance company, and they said no. They were looking for defects in the title. Identity fraud? That wasn't something they were scanning for.

So when they searched, there weren't any problems with the title itself.

So when they searched, there weren't any problems with the title itself.

So when they searched, there weren't any problems with the title itself.

The title system is clearly messy. And wherever there is mess, and a lot at stake, that creates opportunities for fraudsters.

The title system is clearly messy. And wherever there is mess, and a lot at stake, that creates opportunities for fraudsters.

The title system is clearly messy. And wherever there is mess, and a lot at stake, that creates opportunities for fraudsters.

And there's actually an economics concept here. It's the idea of moral hazard. Basically, if you're buying title insurance, then you get to be lazy, right? The nitty gritty research on the title, that's not on you. You maybe don't need to worry so much about why a random South African dude is selling you a patch of land in Connecticut. Because title insurance will take care of all of that.

And there's actually an economics concept here. It's the idea of moral hazard. Basically, if you're buying title insurance, then you get to be lazy, right? The nitty gritty research on the title, that's not on you. You maybe don't need to worry so much about why a random South African dude is selling you a patch of land in Connecticut. Because title insurance will take care of all of that.

And there's actually an economics concept here. It's the idea of moral hazard. Basically, if you're buying title insurance, then you get to be lazy, right? The nitty gritty research on the title, that's not on you. You maybe don't need to worry so much about why a random South African dude is selling you a patch of land in Connecticut. Because title insurance will take care of all of that.

And side note, something you should really know about title insurance is that almost never happens. Title insurance only pays out about 3% of all the money they bring in from title insurance policies because it's rare for things to go wrong. Compare that to, say, car insurance. They pay out 70% of what they bring in. Or health insurance, that's like 80%.

And side note, something you should really know about title insurance is that almost never happens. Title insurance only pays out about 3% of all the money they bring in from title insurance policies because it's rare for things to go wrong. Compare that to, say, car insurance. They pay out 70% of what they bring in. Or health insurance, that's like 80%.

And side note, something you should really know about title insurance is that almost never happens. Title insurance only pays out about 3% of all the money they bring in from title insurance policies because it's rare for things to go wrong. Compare that to, say, car insurance. They pay out 70% of what they bring in. Or health insurance, that's like 80%.

Obviously, that would not be a great situation for Gina, to have that million-dollar house get torn down. Her idea was to figure out a way to keep the land.

Obviously, that would not be a great situation for Gina, to have that million-dollar house get torn down. Her idea was to figure out a way to keep the land.