Title Company Launches Online Library of Co-Op and Condo Offering Plans

November 9, 2010

Manhattan-based TitleVest, a provider of title insurance and related real estate services, announced the BETA launch of the first digital library of thousands of New York cooperative and condominium offering plans.

This new service offers a centralized source for obtaining and viewing coop and condo offering plans. Furthermore, each plan is keyword-searchable, enabling the person reviewing the plan to instantly search for any phrase or topic, without laboriously searching through literally hundreds of document pages.

Also known as a prospectus, an offering plan is a document issued by a sponsor for the purpose of either converting an existing building to cooperative or condominium ownership or developing a new building. Its purpose is to provide full disclosure of all relevant data associated with evaluating an investment in the property.

"Our new offering plan service creates order out of chaos. Not only does it eliminate the painstaking search for a complete copy of the plan and amendments, but the keyword search functionality can dramatically streamline the review process," said Bill Baron, president of TitleVest. "Of course, our digital library also eliminates the need to transport and store a huge stack of documents for every transaction."

TitleVest's offering plan library is an expansion of its Coop/Condo Due Diligence Service, which provides real estate attorneys who are representing buyers of cooperative apartments and condominium units with a transcript or abstract of any references to over 50 relevant issues in the minutes of the Board of Directors' and annual shareholders' meetings over the prior two-year period.

TitleVest's Coop/Condo Due Diligence Service, launched earlier this year, has proven extremely popular with real estate attorneys who have embraced the thoroughness and convenience of obtaining a review that previously required a visit to the managing agent's office.


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.