Contracts
In Oklahoma, the seller's obligation under a purchase contract to provide clear (marketable) title at closing means:
ATitle that is perfect and unencumbered in every way
BTitle that is reasonably free from doubt and defects that would affect value or cause a buyer to reject it, with permitted encumbrances (like easements of record) disclosed✓ Correct
CTitle insured by an ALTA policy
DTitle that has been registered in the Torrens system
Explanation
Marketable title in Oklahoma is title reasonably free from doubt as to its validity, free from defects that could expose the buyer to litigation or loss. It need not be perfect; typical permitted encumbrances (utility easements, HOA restrictions) may exist if disclosed.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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