What Is An Abstract?

A condensed history, taken from the public records, of the documents affecting the ownership rights of a particular piece of real property.  In Oklahoma, the “title search” documentation is bound into a book of sorts known as an abstract.  Every state does the work of a title search in relation to real estate transactions, but not all states bind them into a certified abstract.  Bryan County Abstract Company has continually been in the business of compiling abstracts since 1903.

What Is A Title Examination?

This is the process of reviewing the abstract or title search to determine the status of title to a property.  The examination will determine the current record owner, any issues related to any other parties’ potential interests in the property, the effect of any unreleased mortgages or judgments, the effect and accuracy of any divorces, foreclosures or other court cases, outline any easements and/or restrictions and make any requirements for any necessary corrections or tasks that should be completed prior to the closing of a real estate transaction.  In Oklahoma, the title examination is required to be performed by a licensed attorney when title insurance is to be issued.