Past News Issues

February/March 2006
SAFEGUARD YOURSELF AGAINST IDENTITY THEFT

Identity Theft Insurance coverage reimburses individuals for covered expenses arising from a defined identity theft. Expenses covered include lost wages from time taken off work to complete fraud affidavits, credit bureau reports, loan application fees when reapplying for loans declined due to false information, certain legal fees, postage, phone, shipping fees, notary and filing fees.  Limits vary by company and premiums range between $20 and $35 for limits of $10,000 and $15,000.

The following article has been provided from The Hartford Steam Boiler Inspection and Insurance Co.

Ten Ways to Help Protect Your Name and Credit from Identity Fraud

Identity theft has been the No.1 fraud complaint in the United States for five straight years and anyone can become a target. It happens to customers, businesses and employees.

Here are 10 simple steps that can help you reduce the risk of your information being stolen and misused.

1. Order your credit report. Get credit reports every year from each of the three major credit reporting agencies. A convenient resource is AnnualCreditReport.com, which was created by the three major reporting agencies as a centralized source of credit information. You can request free reports from each agency through this single website.

2. Guard your Social Security number. Don't carry your card with you; store it in a secure place. Release your number only when necessary, such as tax forms, or employment records. Don't have your number printed on checks and don't supply it to merchants who want to write it on your checks. Review your Social Security Earnings and Benefits statement each year to ensure no one is using your number for employment.

3. Protect your mail from theft. Mail outgoing bills from post office collection boxes rather than in an unsecured mail box. Don't leave outgoing mail for your postal carrier to pick up. Pick up new checks at the post office. Consider a locked mailbox and have the post office hold mail while you are away.

4. Destroy documents before disposal. Tear, or better yet, shred your charge and ATM receipts, copies of credit applications, insurance forms, physician statements, checks and bank statements. If you do not want mailed credit offers, contact AnnualCreditReport.com to have your credit reports from all three major reporting agencies marked "no solicitation."

5. Shop online with caution. Use only a credit card when shopping on line, not a debit card. Use a secure browser before you provide any credit information over the Internet. To determine if a site is safe, look for the "lock" symbols in the status bar at the bottom of your browser window. Never send payment information via e-mail.

6.Keep your computer safe. Update virus protection software regularly. Download and install security patches for your operating system or browser. Use a firewall program, especially if you use a high-speed Internet connection like cable, DSL or T-1, which leave your computer connected to the Internet 24 hours a day. Before you dispose of a computer use a "wipe" utility program to overwrite the entire hard drive and make files unrecoverable.

7. Pick your PINs carefully. Do not use any part of your Social Security number for any Personal Identification Number (PIN) . Don't use any combination a thief could easily figure out, such as birth dates, a pet's name, etc. Memorize all your PINs and do not write them down. Finally, shield the PIN pad when you are entering the number in a retail establishment or at an ATM to prevent others from observing your PIN.

8. Lock up important documents. Keep all documents with personal account information under lock and key in your home.

9.Record your credit and bank account information. List or photocopy all of your credit and debit cards, including account number, expiration date, telephone numbers of customer service and fraud departments in case your cards are stolen. Make a similar list for your bank accounts.

10. Don't take that call. Don't give out personal information on the phone, through the mail or over the Internet unless you've initiated the contact.

MAJOR CREDIT REPORTING AGENCIES

Equifax, P.O. Box 105069, Atlanta, GA 30348 Request credit report:  800) 525-6285    http://www.equifax.com

Experian, P.O. Box 9532, Allen, TX 75013  Request credit report: (888)-397-3742 http://www.experian.com

Transunion, P.O.Box 6790, Fullerton,CA 92835 Request credit report: (800) 888-4213    http://www.transunion.com

AnnualCreditReport.com                             Request credit reports from all three agencies online, or call: (877) 322-8228                        Stop unsolicited credit offers: (888) 567-8688 

             

 

 THE HOMESTEAD ACT
Massachusetts General Laws,  Ch. 188, 1-10

 
A declaration of Homestead is a type of protection for a person's residence, in the form of a document called a "Declaration of Estate of Homestead." The form is filed at the Registry of Deeds in the county where the property is located, referencing the title to the property. It allows homeowners in Massachusetts to protect their property up to five hundred thousand dollars ($500,000)* of the value per residence, per family.

*Existing homesteads will get the increased protection automatically after October 2004.

The real property of a manufactured home which serves as an individual's principal residence upon filing a declaration of Homestead, shall be protected against subsequent attachment, levy on execution or sale to satisfy debts to the extent of ($500,000) per residence per family. The statute further states that "For the purposes of the Chapter, the work 'family's' include either a parent and a child or children, a husband and wife and their children, any, or sole owner". Thus, a single person who is the sole owner of a primary residence may file for a Homestead protection to the extent of ($500,000).

The following are exempt from the Homestead Law:

  • Federal, state and local taxes, assessments, claims, and liens;
  • mortgages used to purchase the residence, and in the case of the elderly homestead, first and second mortgages held by financial institutions or others;
  • an execution issued from the Probate Court to enforce its judgment that a spouse pay for the support of a spouse or minor children;
  • where buildings on land not owned by the owner of a Homestead estate are attached, levied upon or sold for the ground rent of the lot whereon they stand;
  • upon execution issued from a court of competent jurisdiction to enforce its judgment based upon fraud, mistake, duress, undue influence or lack of capacity;
  • debts contracted prior to the acquisition of the homestead.
     

The Homestead protection is not a substitute for home insurance or any other type of liability insurance.

These are separate and distinct types of protection. Homestead protection will be effective after any liability insurance is used to pay for any judgments that are related to liability incurred under that particular insurance policy (e.g. home, automobile, etc.)

To acquire a claim of Homestead for a mobile home, you must file at the city or town clerk's office in which the mobile home is located. Be sure the form is filled out completely and has been properly notarized, and remember to enclose a check for the proper recording fee with the Homestead form. The check should be made payable to the Commonwealth of Massachusetts. Homestead forms may be obtained at most Registries of Deeds. They are also available at legal stationery stores or your local attorney's office.

This article has been designed to answer some of the basic questions pertaining to the Homestead Act. It is not designed to provide any legal advice or address the practical effect of a claim of Homestead. As in all areas of the law, to fully understand what your rights are you should consult an attorney of your choice.

If you have further questions or concerns about how the Registry of Deeds can assist you in filing a declaration of Homestead, please do not hesitate to give the Registry of Deeds office a call.

Franklin County Registry of Deeds
425 Main St.
Greenfield, MA 01301
(413) 772-0239


www.franklindeeds.com

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