Title defects have become a major nuisance in the real estate industry causing a lot of inconveniences. The defects have led to the Nationwide Title Clearing Inc. to take measures to solve the issue once and for all. When defects occur, they lead to serious issues such as wrongful foreclosures and are even attributed to causing stagnation to a process that would have otherwise been smooth. According to the Nationwide Title Clearing, the easiest way to solve the issue of title defect is ensuring that there are good property records. For this reason, the company has taken measures by launching a new website that will go a long way in helping solve the issue.
On a normal day, title defects will occur when a company or a person lays claim to a property that belongs to another person or entity. Regarding this, several issues may be the cause of such a misunderstanding. Such issues include:
- Wording problems which mean that the document fails to follow the standards that have been put in place by the real estate industry.
- The omission of a signature by a key member of the deal. This may be a spouse or an important party in the transaction.
- Previous liens that have not been taken care of.
- The final issue that may cause a title defect is the failure to follow the processes that have been put in place when it comes to filing real estate documents.
John Hillman, the chief executive officer of this firm, says that the importance of the new website is to make property records available. This makes it easier to address the issue as the following reports are readily available; the assignment verification report services, tax status plus report as well as ownership and encumbrance report and not forgetting the tax status report. With this reports, it will be possible to develop a simple and fast process when it comes to securing property reports.
The process of obtaining data to be used by the Nationwide Title Clearing is a complicated one as it involves automation and human verification. Most of the data come from the counties. The success that the company has recorded in the past years can be attributed from the fact that their employees and top management understand the end results that each client want.
Nationwide Title Clearing has been in existence since the year 1991 and has its headquarters in Palm Harbor, Florida. Over the years, the firm has developed a reputation for offering accurate research services coupled with quality document processing.