Property Ownership
Oklahoma's title abstracting system is so firmly established that Oklahoma is sometimes called the 'abstract state.' This means:
ATitle insurance is not needed in Oklahoma
BThe abstract of title is the foundational document for title research, often prepared by a licensed abstractor before a title insurance policy is issued✓ Correct
COnly attorneys can purchase property in Oklahoma
DOREC maintains all property records
Explanation
Oklahoma's abstracting tradition means that an abstract of title (compiled history of all recorded instruments) prepared by a licensed abstractor is the foundation of title examination. Attorneys review the abstract and issue title opinions, which may then support the issuance of title insurance.
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