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Title Insurance in Oklahoma
Oklahoma is one of only two remaining states in the US that
requires the use of an abstract to write title insurance; and up until recently
the insurance commissioner would only license abstractors and attorneys to write
these policies. Since then, other entities that meet the insurance departmentıs
current requirements may be licensed.
Although the process of reading and updating an abstract adds
to the time involved in organizing the loan closing, it helps to avoid title
losses that can result in expensive, and lengthy, property disputes. Oklahoma
reports the lowest number of title losses in the nation; so despite the
sometimes-frustrating delays in loan closing, this rule actually works to benefit
the public.
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49.2 years
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25.2 years
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23.2 years
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Lisa Burn, Manager, Title Insurance and Accounting |
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22.2 years
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17.2 years
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16.2 years
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11.2 years
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10.2 years
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8.7 years
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4.8 years
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3.0 years
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