Real Estate Law/Title Opinions FAQ
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Questions Frequently Asked About Real Estate In Oklahoma

In Oklahoma, real estate transactions are subject to state laws and Native American laws and regulations. I am Cody Allen Thomas, and I serve clients throughout northeastern Oklahoma and northwestern Arkansas. Here are brief answers to questions I frequently hear about real estate matters.

What Is A Clear Title To Real Property?

A clear title means the property is not subject to another person’s financial encumbrances such as a lien, unpaid taxes or mortgage obligation.

What Is A Marketable Title?

When a property has a marketable title, the property may come with encumbrances, such as existing easements or covenants. Encumbrances are revealed but do not hinder the sale or purchase of the property.

What Is A Title Opinion?

A title opinion is prepared and written by an attorney after completing a detailed examination and evaluation of the chain of title connected to real property. The attorney analyzes the complete history of the property. This includes reviewing existing deeds, releases, title defects, oil and mineral rights, water concerns and other matters. If there are problems with the title, the attorney makes recommendations for addressing the issues. Title insurance companies require a title opinion to create a title report and issue insurance.

Do I Need An Attorney For A Title Opinion?

Yes. In Oklahoma, a title opinion is a critical component of real estate transactions. Much of the real property in Oklahoma is tribal land. Working with a highly experienced local attorney is vital to ensure the title opinion reflects proper research. An attorney will identify and anticipate potential concerns in the process of drafting a title opinion. Interpretation of court decrees, existing statutes, legislation and case law is often necessary if problems arise.

Does An Attorney Provide Everyone’s Title Opinion In A Real Estate Transaction?

No. Generally, an attorney will only provide a title opinion for their client. Lenders, title insurance companies and buyers each independently secure their attorney to examine the title on their behalf.

Why Do I Need Title Insurance?

There are two types of title insurance issued when the title opinion is complete: the lender’s policy and the owner’s policy. A borrower is typically required to pay for the lender’s title insurance policy, thus protecting the lender from financial loss. A separate owner’s title insurance policy covers correcting title problems or loss of the property.

Real Estate Transactions In Oklahoma Are Complex; Can You Help Me?

Yes, call Cody Allen Thomas, Esq., Attorney at Law, at 918-771-7028 to schedule an appointment to learn more about working with an experienced local attorney. You can also email my office to arrange a consultation. I provide in-depth real estate insight for individuals, families and businesses.