Abstracting
Digital Abstracting is MODERN, secure and fast.
Modern Abstract and Title saves you time on abstracting, so you can close faster.
Abstract of Title: What is it?
A real estate abstract is a legal history of a specific piece of land; a logically arranged compilation of recorded documents connected to the property. It shows whether there are tax or other liens against the property, as well as any legal actions, claims, or transfers related to the status of the property. For example, abstracting might include surface interests, mortgage interests, leasehold interests, mineral rights, or easement rights that could control your access to the property.
An abstract is created by carefully searching and compiling records retained by the licensed abstract plant.
What's an Abstract Plant?
Also known as a Title Plant, an Abstract Plant is a database of records, indexed geographically and showing instruments (documents) that are connected to a tract of land. Records might include references to deeds, mortgages, court proceedings, and tax sales. In Oklahoma, your abstract plant is required to go back to inception, which includes documents prior to statehood (1907).
The abstract is essential for any real estate transaction, as it assures all parties of the ability to sell or purchase the property without unknown issues or limitations.
We Modernized the Oklahoma Abstracting Industry
With our fully digital title plant in Bryan County, Modern was among the first abstract companies to introduce digital abstracting to Oklahoma. This is important to both property owners and realtors, because digital abstracting is secure and fast, saving money and time.
