We’ve all been there: You need to revisit an old title chain or review title work that was performed by a former employee but the paper is crumpled, the hand writing illegible, or worse of all they didn’t leave a chain or support documents in the title folder. Even if the work was done on a computer, it can be difficult following what’s going on in the chain and determining how they came to certain conclusions. It can be such a drain on resources to recreate the work or spend hours attempting to follow the logic of their chicken scratch title chain or disorganized flow chart.
How unorganized title chain impacts your business
Besides the sheer annoyance of having an inconsistent company method for running title, it can also affect your bottom line. For example, if you have an old title chain that was hand written, you may use hours of valuable time trying to comprehend what is in the chain or you may just have to create a new one entirely. Depending on the pay grade of the employee delegated with this task, you could spend $100’s -$1000’s each time. If the chain is done on a computer, employees can spend hours creating a flow chart or excel spreadsheet that makes sense to them but that is difficult for others to understand. There are so many opportunities for confusion and miscommunication when you don’t have a company standard for writing title chain and the costs can add up quickly. If only there was a way in which this was all standardized. Now there is…
How Title Tree came to be
At TCO, we realized the inefficiencies that occurred when we ran title. We tried land management software but most yielded results similar to a title brief and lacked the visual aspect. Next we tried flow charting software but found them time consuming and weren’t tailored to our industry. Unsatisfied with the options that were available, we decided to create our own system that was oil and gas industry specific. From this need, Title Tree was born, the first of its kind.
The graphic below illustrates the Title Tree visual chain of title.
So what is Title Tree?
Title Tree is a cloud based title chain software that allows all users to view a title chain with absolute clarity. The program uses TCO’s abstracting software called TACT to auto-populate information. This means that the user only has to enter document information once for the entirety of the project whether the document appears in one location or thousands. Users can quickly drag and drop information to create an easy to read title chain along with single click document access of vesting or support documents all in a central source location. The data is backed up instantly and can be accessed 24/7. There are no more crumpled papers, illegible handwriting, or unorganized flow. The entire company adopts a standardized way of creating title chains. This allows efficiency within the company that saves valuable time and money. Employees can easily navigate any chain, from anyone, anytime.
We’re proud of the system we’ve created and we’re excited to show the rest of industry how efficient Title Tree is.
Contact TCO Land Services today at 303.298.8101 or [email protected] to schedule a demo!