631 N. 6th Street, Clinton, OK 73601
Hours: Mon. thru Thurs. 8am - 5pm \\ Fri. 8am - 3pm
Custer County
Abstract Company
is at your service.
About Custer County Abstract Company
Here at Custer County Abstract Company, our family owned and operated business is ready to serve you! We've been serving the Western Oklahoma area for over 110 years, and we're your number one source for quality abstracts, title insurance and information, and efficient closing solutions.
We've been a member of Clinton Chamber of Commerce for many years. We take pride in our knowledge of the area, and we do our best to support the community by donating time and resources to a multitude of local causes.
As a long-standing member of the Oklahoma Land Title Association and the American Land Title Association, we take pride in assuring our clients of accuracy, efficiency, professionalism and up to date information in their Real Estate transactions.
Abstracting
A Land Abstract
A land abstract can be thought of as a complete historical "book" related to an individual piece of land based on its legal description. It shows the entire chain of ownership transfers from the time the property title was first recognized by the government up to the present. This set of documents will also include any court items filed in the court clerk's office that pertain to either the property or the property's owner(s). Therefore, the abstract can be used to establish a "clear title" to a piece of property.
In the old days - before photo copiers - an abstractor read each document pertaining to a piece of property, made "takeoff" notes, then summarized them on a sheet of paper. This page would list all the pertinent information related to an item, such as a deed, by including the grantor, grantee, date of the deed, filing date, legal description, signature block, and notary information. The abstractor's page was then added to the "book" and called an abstract, because the information from the original deed was "abstracted" thus the name. The ability to pick through numerous pages of information and abstract the important details was considered an art form.
Today, when the abstract has been brought up to date, an abstractor will place a "certificate page" at the very end of the abstract. This page certifies the legal description of the abstract, Ad Valorem tax status, personal property tax status, and any other court items that fell within the time period covered by the certificate from the last certificate page to the present.
Title Insurance
Here For You
What is title insurance?
It is the application of the principles of insurance to risks/hazards that exist in every real estate transaction.
How does title insurance differ from other types of insurance?
Title insurance protects the insured from future losses arising out of events that happened in the past.
Are there several types of title insurance?
Yes. There are three types of title policies. The first one is the owner's policy, which the buyer would need for his or her protection. The second one is the lender's policy (mortgagee's policy), which only protects the lender. A majority of the lending institutions require a lender's policy for each real estate loan. Additional coverage is available through an “Eagle” policy.
What fees are associated with title insurance, and who is responsible for paying these?
There are four steps necessary to get to the point of issuing a title policy (whether owner's, lender's or leasehold). The four steps are as follows:
Initial abstracting to update abstract for title examination;
Title examination by an attorney to produce a title commitment;
Final search to show recorded documents (from closing) in abstract;
Collection of title insurance premium.
Each of the first three above-referenced steps has a fee associated with it, and the party who pays for each of these is determined by the real estate contract.
How much are the annual premiums?
There are no annual premiums. The premium is calculated based on the sales price or the mortgage amount, and it is a one-time charge for the life of the policy.
Abstract Storage
We Store
We are happy to offer abstract storage at no charge to the customer for Custer County property.
Closing Services
Satisfaction Guaranteed
One of our main services is the closing of your real estate transaction to fully complete your purchase or loan. Our trained and highly experienced closing personnel are committed to our customers' needs. Whether your needs are for completion of a property sale, the funding of your mortgage loan, or a 1031 tax exchange of property, our knowledgeable and skilled closing staff can meet your needs.