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Understanding the Big Changes in Oklahoma Real Estate

Understanding the Big Changes in Oklahoma Real Estate

November 29, 2023

Big changes hit Oklahoma's real estate world on November 1, 2023, thanks to Senate Bill 212. This new law, concerned about who owns land, puts strict rules on property deals, especially those tied to marijuana. If you're interested in real estate in Oklahoma, it's essential to know the ins and outs of this new law.

The Important Affidavit: Now, with Senate Bill 212, every time you file a deed in Oklahoma, you must include something called an "affidavit." This paper, signed by the person getting the property (the grantee), is a must for following the rules. If you don't have it, the County Clerks won't accept your deed. The affidavits, given by the Oklahoma Attorney General, say that the grantee is either a U.S. citizen or lives in Oklahoma. Plus, they promise that the money used to buy the property follows all the state and federal laws. You can find the forms here.

Getting Help from a Legal Pro: Even though there are forms to help, doing your own deed might be tricky. Senate Bill 212 is kind of complicated. So, it's smart to talk to a lawyer. They can guide you through the law's tricky parts and make sure you're doing things right. With new rules for foreign ownership and the need for affidavits, getting advice from a legal professional will be a big help as Oklahoma's real estate scene continues to evolve.