In the recent times, title defects have become very popular, and they are currently a cause for great concern in the real estate market. Some people feel that these errors lead to wrongful foreclosures, and others believe that they result in the stagnation of smooth transition of the assets in the secondary market.
Nationwide Title Clearing executives believe that property records have a crucial role, especially in ensuring that there is clear title conveyance. These files are also imperative in reducing the risk of the inability to foreclosure or buyback. The executives of the institution urge everyone to have their property records in order at all times to avoid getting in serious trouble.
The Nationwide Title Clearing is one of the leaders in the research and document processing industry, and it offers solutions to the companies in the mortgage and finance department. The company has done its best to ensure that the whole process of securing property reports is as simple as simple. The organization is privately held, and it is considered to be one of the fastest growing institutions in the United States. The company was started several years ago, and it has become very successful. Not long ago, the privately held agency decided to launch a newly updated website, and this will make the property reports available to customers online.
Title defects mostly happen when an entity or an individual has laid a claim to a certain property that is already owned by another person. There are, however, several factors that might render a title invalid. Here are some of the factors:
• The failure to include the signatures of any of the parties that are needed in the transactions like the spouse.
• Some simple wording problems in the report that have not complied with the real estate regulations in the area.
• If the previous encumbrances and liens have not been correctly removed from the report.
• If the individual does not follow the filing and recording procedures needed when recording the real estate documents.
John Hillman currently serves as the Chief Executive Officer of the Nationwide Title Clearing, and he says that due to these factors, it is paramount to address all title defects before the property in question is transferred or sold to another individual. John Hillman has done his best to assist the ever changing mortgage industry. Under his leadership, the NTC has offered consumers some critical reports via online ordering.
Customers will now be able to access the Assignment Verification Report Services, Tax Status Report, Current Owner Report and Tax Status Reports. The property reports from the company are mainly based on the research conducted on the actual land records. According to John, these records are now available to all the residential properties in the United States.