What version of Premiere Elements are you using and on what computer operating system is it running?
In the case of this theoretical lower third to be applied to more than one title at a time
a. Is there text in the lower third besides a graphic of some kind?
b. Are all the titles to which this lower third is to be applied all together on the Timeline or scattered?
If no text in lower third and titles all together, then, with text titles on Video 1 and lower third on Video 2, drag out the lower third to cover the length of the text titles on Video 1.
I do not find "lower third" title files to be in the same category as certain effects where the Copy and "Paste Attributes" or "Paste Effects and Adjustments" lend themselves so well.
Let us see what others have to say about all this. I will continue to experiment with what you seek and how you would prefer to get there. I am not optimistic but I will try.
Welcome to the forum.
Along with ATR's comments and suggestions, I find that Duplicate in Titler, with the first Lower-Third open in it, will yield an identical copy of that Title, but it will be a separate, and unique Title, and not just an Instance of that original Title. While the Text (includeing Position and any Styles) in that Duplicate will match the Text from the original, it can be altered, totally independently from that original. That is not possible with an Instance of that original Title, as they are all linked - just clones.
This article goes into more details on Titles, and Duplicates and Instances: http://forums.adobe.com/thread/1131177?tstart=0
Excellent point about the use of "Duplicate" for the lower third title original in the Project Media/Assets area. I was waiting for further details from jhb3243 before getting into routes (maybe not as hoped for) but with the wanted end result with minimized pitfalls.
Under many scenarios, a change of file name avoids having a pile up of lower third templates text all with the same text. I also suspect that it is too much to hope for with regard to lower third templates without text in this case.
With more information from jhb3243, we can each suggest how we might develop the workflow to best get the job done.
Thanks for your comments. I am using Premier 10 on Windows 7. The task is to write subtitles of dialogue, with the text centered in the lower third. So far, we have had to click Titles- Position-Horizontal Center, then Titles-Position-Lower Third for each subtitle individually. Looking for a faster way. I will try the suggested Duplicate approach and see if that works better.