The proposed bill amends Chapter 11-18 of the General Laws by introducing a new section titled "Real estate title fraud - Unsolicited offers to purchase." This section defines key terms related to real estate transactions, including "mortgage lending process," "pattern of real estate title fraud," and "unsolicited real estate purchase offer." It mandates that any person or entity making unsolicited offers to purchase real estate must provide specific notices regarding the offer's potential value compared to fair market and municipal assessed values.

The bill outlines penalties for violations, including misdemeanor charges for failing to provide the required notices and felony charges for committing real estate title fraud. Specifically, a person commits real estate title fraud if they knowingly offer for recording or record any real estate deed with a forged signature, a fraudulently created instrument, or a fraudulent mortgage or lien. Penalties for such offenses include imprisonment for up to ten years and fines up to $50,000 for a first offense, and up to twenty years and fines up to $100,000 for a pattern of real estate title fraud.

Additionally, the bill requires municipalities to obtain sufficient documentation to identify individuals filing real estate deeds or other instruments electronically from remote locations, effective September 1, 2025. Any filings that do not comply with this requirement will be deemed void. The legislation also allows victims of real estate title fraud to pursue legal action against individuals who have filed false or forged documents, enabling them to recover actual damages or a minimum of $5,000, as well as legal costs incurred in bringing such action.