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Title coordinators ensure that title documents related to loans, leases, and pledges are properly filed and recorded for car rental companies, property management companies, and tour operators. They also provide copies of ownership documents to renters and insurance agents and manage the process of obtaining or releasing title documents for real estate investment companies.
A title coordinator is responsible for filing and recording title documents. Coordinators are typically employed by car rental companies, property management companies and tour operators. These people protect a company’s ownership interest in real estate by ensuring that documents related to loans, leases and pledges are in order.
In many countries, when a property changes hands, the seller needs to sign the title or deed to the property for the new owner and have the document notarized and registered with the local court. Likewise, vehicle owners in many areas are required to file title documents whenever a car, boat, or other type of vehicle is bought or sold. When someone secures a debt against property, the creditor may have to file a lien notice with the local court for the penalty to take effect. A title coordinator employed by a rental company or property management company must ensure that liens have been properly recorded for each vehicle or property the company owns. If errors are detected, the title coordinator may have to contact the previous owner to obtain a title or arrange for an authorized subscriber to complete the necessary documentation.
When a rental company or travel company leases a vehicle to an individual, the title coordinator may have to provide the renter with a copy of the ownership documents, because in many countries drivers are required to keep title documents on cars. The coordinator may have to attach a copy of the signed lease agreement to the title so that if a police officer pulls over the vehicle, the relationship between the driver and the vehicle’s owner is properly documented. Insurance companies sometimes require title document details before agreeing to guarantee a lease; in that case, the coordinator may have to provide a copy of the document to an insurance agent. Likewise, auto repair companies are often required to verify ownership before commencing work on vehicles.
Real estate investment companies routinely buy and sell properties and the title coordinator is responsible for managing the process of obtaining or releasing title documents. In some nations, government agencies levy property taxes, and entities and individuals are often required to pay a higher rate on properties that are being leased to third parties. Between lease periods, a property management company can use a property for internal purposes, in which case the company can get a tax break if the coordinator files the amended title with the local court. If the business chooses to lease the property, the title must be updated to show that the property is being used as a rental property.
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