A certificate of title is a kind of certificate that is applied on property. It is an official document that is provided to the owner as their possession by the government agency or municipality. The owner of a certificate of title can be of many things, such as the company, organization, vehicles and home. It is a proper formal document that is provided to his owner at the time of purchasing the vehicle and real state. A certificate of title holds some important information such as the name of and important information related to property for identification, vehicle identification number (VIN) and license plate number for a car, address for homes and for other real property. The main aim of a certificate of title is to provide the evidence to the owner that the property is this person. It is put on every kind of property that holds a title, especially on vehicles and the real state.
Importance of Certificate of Title
A certificate of title template is very crucial as it provides recognition to the owner that he/she is the owner of the said property. Being a worthy certificate, it facilitates an owner in handling property and vehicles. Moreover, it serves as verification proof and gives surety to the owner. Similarly, this document plays a very significant role in disposing of a property. Without having this certificate of title, you cannot claim ownership of any property. Selling and transferring a property is also impossible without this document. During the phrase of selling a property, this certificate is also transferred to the new buyer after completing legal requirements. The payment is the last step and when a customer pays the total amount of the property, the certificate of title is transferred to the customer.
Advantages of a Certificate of Title
A certificate of title has many advantages because it gives identification of the property. Giving a certificate of title to the owner means that the mentioned property is in their possession. A certificate of title gives easy access and contemporary records of the owner of the property. It lessens the process of research. A certificate of title is an essential document at the time of owning the property and selling the property. It gives assurance to the customers that the certificate of title is original and belongs to him and no one can ever make claim on this property. It is a very simple document and very easy to understand. When a seller sells his/her property, the information on this certificate also changes. This happens to avoid any issue which could arise in the future.
Problems With a Certificate of Title
A certificate of title template can be equipped with some problems because only having the certificate of title does not mean the ownership of a property unless it is registered on a Registrar General’s folio. A certificate of title only gives the idea of the status of the property. You cannot use this certificate as a guarantee for holders.
Template for Certificate of Title
