More than a flowchart and run sheet tool
At a glance, Tracts may seem like just another flowchart and run sheet tool, but it is really a title management tool. The proprietary math engine is the software's secret sauce.
Transparency in an opaque process
The benefits go beyond day rate savings though, through centralized ownership and storage of the data it can be easily accessed and updated at all times. With the new addition of a project dashboard, Tracts provides a level of transparency that doesn't often exist.
Standardized data entry
Another benefit to introducing some automation to the title process is that the discrepancies are easier to spot. Whether that is a stranger to title, a missing, conveyance, or an over/under conveyance – the system is equipped to identify those issues for resolution.
Real-time ownership history
One innovative feature that caught my eye, that is really only possible with a fully automated chain of title, is the ability to instantly get ownership calculations as of any date… When you consider the implications of complex trees of assignments, reservations, and conveyances—it can really be beneficial to have the ability to easily “roll-back” the ownership to a certain date and see what it looked like.
A new way to run title
Ultimately, Tracts is working to deliver a product that brings transparency, cost savings, and accuracy to a workflow that is currently very opaque.
Thanks to Randy Young with the LandmanInsider.com blog for taking the time to write such a detailed review of our title management software. We genuinely appreciate the critique, observations, and suggestions.
If you missed Randy's review, you can get all the details on LandmanInsider.com about his experience using the software, use cases for building chain of title and other reports, and conclusions.