In recent years, among the principal causes of concern in the realty market is title defects, which lead to wrongful foreclosures for some, while others cause stagnation in the transition of assets within the secondary market. According to the executives of the Nationwide Title Clearing, Inc. (NTC) property records are significant in facilitating a smooth title conveyance as well as lessening the buyback risk or inability to foreclose. NTC has rolled out a strategy to ensure it simplifies the process of securing property reports thru launching an updated website to ensure property rights are available online.
There are some other factors, which may render a title invalid as outlined by the Nationwide Title Clearing, Inc. Simple issues regarding wording in the document, which is not in line with the real estate standards for the designated area may make a title invalid. Additionally, a title may be invalid due to the failure to engrave the signature of the relevant parties, which are necessary to the transaction.
Previous liens, as well as other encumbrances failing to be removed, may render a title invalid. The failure to follow filing or recording procedures when recording realty documents may also render a title invalid. According to John Hillman, the CEO of the Nationwide Title Clearing, Inc., adequately addressing title defects before the transfer or sale of a property is critical. In an effort to positively impact the evolving mortgage sector, the NTC has ensured such property reports as Tax Status Report, Tax Status (Plus) Report, Assignment Verification Report Services, as well as Current Owner Report, are available thru online ordering.
The Nationwide Title Clearing, Inc. is instituted in Palm Harbor in Florida and was established in 1991. NTC is a private entity, which is a leader in the provision of research and document-processing services to the residential mortgage sector. NTC is reputed for its ability to deliver the highest possible level of accuracy in both research services and quality processing of documents, which acts as the industrial standard while being protective of homeowners, preserving the country’s records as well as aiding the mortgage banking industry. The company’s land documents and records experts are able to track and meet the county document requirements in its entire recording jurisdiction countrywide.