The man, of no fixed address, allegedly falsified his identity to sell the Benowa properties in October 2013.

The charges followed the arrest of the man on Thursday over an unrelated marine incident in Moreton Bay on July 13, in which a catamaran he is alleged to have been at the helm of failed to give way to a bulk container ship in the East Channel.

Police alleged the man gave them a false name when they interviewed him over the incident, and their investigations uncovered his earlier alleged real estate fraud.

The 46-year-old has been charged with two counts of major fraud and three counts of falsifying identification information,

He was scheduled to appear in the Brisbane Magistrates Court on Saturday.

He was also charged with contravening a direction or requirement.

Police say charges are yet to be laid over the marine incident, with investigations ongoing.