Those rates vary considerably in Oklahoma.
SOLD FOR $1,200,000
Stidham said fixed rates are typically higher in rural counties because tracts are less likely to have been platted and divided up into lots and block. Legal descriptions are typically more complex in rural counties and the abstracts are usually a lot more pages, he said. Stidham said his company may make adjustments in its fixed rate schedule as it gets a better idea of how many pages are typically required to update abstracts over various lengths of time. McIntosh County also is one of several Oklahoma counties that have just one abstracting company, so there is no competition.
Roger Mills County had just one abstractor working for that company about a year ago, Reppond said.
A problem arose when that abstractor got sick and property sales backed up, she said. The board was created after former state Auditor and Inspector Jeff McMahan got caught up in a scandal involving bribes and illegal campaign contributions connected to people in the abstracting industry.
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