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A title coordinator is responsible for filing and recording property title documents. Coordinators are typically employed by vehicle rental companies, real estate management firms and travel operators. These individuals protect a firm's ownership stake in a piece of property by ensuring that documents related to loans, lease agreements and liens are in order.
In many countries, when a piece of real estate changes hands the seller has to sign the property title or deed over to the new owner and have the document notarized and recorded in the local courthouse. 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 a piece of property, the lender may have to file a lien notice at the local courthouse for the lien to take effect. A title coordinator employed by a rental company or real estate management firm must ensure that liens have been properly recorded for each of the vehicles or properties that the company owns. If errors are detected, the title coordinator may have to contact the previous owner to obtain a title or make arrangements to have an authorized signer complete the necessary paperwork.
When a rental firm or a 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 nations drivers are required to keep title documents in cars. The coordinator may have to attach a copy of the signed lease agreement to the title so that if a police officer stops the vehicle, the relationship between the driver and the vehicle owner will be properly documented. Insurance firms sometimes require details of the title document before agreeing to insure a rental in which case the coordinator may have to supply a copy of the document to an insurance agent. Likewise, car repair firms usually need to verify ownership before beginning 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 charge property tax and entities and individuals often have to pay a higher rate of tax on properties that are being rented to third parties. Between rental periods, a property management company may use a piece of real estate for in-house purposes in which case the firm can sometimes earn a tax break if the coordinator files the corrected title at the local courthouse. If the firm then opts to lease the property out, the title must be updated to show that the piece of real estate is being used as a rental property.
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