Escrow & Title
In Oklahoma, a survey of a property is important because it:
AReplaces the need for a title search
BIdentifies the exact boundaries, easements, encroachments, and improvements on and around the property✓ Correct
CIs required by OREC for all transactions
DAutomatically updates the abstract of title
Explanation
A property survey identifies exact boundary lines, locates improvements, identifies easements, and reveals encroachments by or onto adjacent properties. Oklahoma lenders often require surveys for commercial transactions, and buyers should consider surveys for residential purchases.
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