Our study employs self-consistent ab-initio calculations using highly precise spin-polarized density functional theory with both GGA and GGA+U approaches, coupled with the Boltzmann transport scheme. This comprehensive approach investigated the structural stability, magneto-electronic behavior, thermophysical characteristics, and thermoelectric transport properties of Co2TiRE (RE = Nd, Tb) Heusler alloys. Through structural optimizations, we confirm that these materials exhibit ferromagnetic behavior. Analysis of band occupation and density of states using GGA and GGA+U methods reveals that both compounds are metallic in both spin configurations. We evaluated key transport properties such as the Seebeck coefficient, electrical and thermal conductivity and the figure of merit to understand their potential in thermoelectric applications. Conservative estimates of the Seebeck coefficient and the figure of merit suggest promising applications in thermoelectric energy harvesting technologies. Additionally, we provide a comprehensive analysis of the thermophysical behavior, including the Debye temperature, thermal expansion, and specific heat, to assess the alloys thermodynamic stability across varying temperature and pressure conditions.