Nationwide Title Clearing, Inc. is now offering online ordering of property records through its newly updated website. According to NTC executives, title defects have “become a major cause for concern within the real estate market in recent years, which some feel cause wrongful foreclosures and others feel contribute to stagnation of what would otherwise be a smooth transition of assets within the secondary market.”
NTC said that several issues occur with the title of a property. Most common among those is when a person or entity lays claim to the property when the property is actually owned by someone else. According to NTC, other title-related issues are:
- Simple issues with wording in the document that does not comply with real estate standards for the area
- Failure to include the signature of a party that is necessary to the transaction, such as a spouse
- Previous liens and other encumbrances have not been removed (the title needs to needs to be free of encumbrances to be marketable)
- Failure to follow recording or filing procedures when recording real estate documents.
Addressing all of those title defects is critical before the property is sold, according to NTC CEO John Hillman. “NTC has made it a goal to provide a simple, fast, step-by-step process of securing property reports,” said Hillman.
In that effort, NTC now offers online ordering for the following property reports:
Assignment Verification Report Services
Current Owner Report (O&E—Ownership & Encumbrance Report)
Tax Status Report
Tax Status (Plus) Report
“Our property report services are based on research conducted from actual land records and are accessible for any residential property nationwide,” Hillman added.