Except as discussed above with regard to corporations, no acknowledgement is required in order for a deed or other instrument relating to real estate to be effective between the parties.
As noted in Section 4 of this article, the recording fees will differ depending on whether the instrument to be recorded is conforming or non-conforming. One final point related to name changes and mergers or consolidations involving entities owning real property in Oklahoma should be noted. Corporations undergoing a name change or surviving a merger or consolidation are required to file the certificate of name change or merger or consolidation in each county where such corporation has an interest in real property. Similarly, partnerships and limited partnerships surviving a merger are required to file the statement of merger in the county where such other entity that was a party to the merger has any real property in order to effectuate such property becoming property of the surviving partnership or limited partnership.
Finally, with respect to limited liability companies, the Oklahoma Title Examination Standards contain similar provisions entitling the title examiner to rely or recitals in recorded title documents as to name changes and succession by merger or consolidation for limited liability companies in the absence of recorded evidence to the contrary. Like most other states, Oklahoma has various statutes and municipal ordinances regulating the platting and subdividing real property.
This regulatory scheme can be confusing as the rules are different depending on the location of the property, so a buyer purchasing real property in Oklahoma should familiarize itself with these regulations to ensure that unexpected hurdles or delays to closing are avoided. In general, these issues tend to arise where an existing tract of real property is being divided into more than one tract as a result of the contemplated transaction and, particularly, when one of those tracts is five acres or less.
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In that regard, it is important to recognize that these regulations might be triggered even if the tract that is being conveyed is more than five acres if the remaining tract owned by the grantor is five acres or less. For example, Title 11, Section of the Oklahoma Statutes provides that with respect to cities with a population of , or more a deed conveying five acres or less must be approved by the City Planning Commission and such approval must be evidenced on the deed, unless there is an existing deed already of record the evidences the previous approval by the City Planning Commission.
Section This statute further provides that a deed without such approval is not valid and, if recorded, does not import notice. Finally, to complicate matters many cities may have their own regulatory schemes that apply to the so-called lot splits, as may counties with regard to unincorporated areas within their boundaries. The point is that buyers should pay particular attention to these requirements to avoid any surprises in preparation for a closing.
Similar to other states, a buyer of Oklahoma real property frequently wants to negotiate into the real property purchase agreement a time period to evaluate the property before becoming contractually committed to close. Such provisions have become fairly common, but the exact language chosen by the parties to implement such a provision can vary widely.
However, in general, these provisions grant the buyer some time period to engage in due diligence activities and, then, make a determination within that period whether to proceed with the transaction. If the buyer terminates within this time period, any earnest money deposited by the buyer is generally returned to the buyer and the parties go their separate ways.
The discussion below concerning Oklahoma case law illustrates the importance of carefully choosing the language to be included in the real property purchase agreement to implement such a concept. As an initial matter, the buyer should consider whether it wants the unfettered right to terminate in its sole discretion or for any or no reason during this time period or whether the buyer must have some sort of justification or reason for such a termination.
No reported Oklahoma cases address the ramifications of a buyer including in a real property purchase agreement the unfettered right to terminate the agreement in its sole discretion or for any or no reason during this time period. More specifically, in Davis v.
Sonat Exploration Co. While satisfaction was to be judged by the [b]uyer, this satisfaction was one determined in good faith and not by whim. However, very recently in Group One Realty, Inc. A court could be more likely to apply the subjective good faith standard in situations where the satisfaction contingency is broader in nature than that at issue in Group One. Consequently, buyers should be cautioned to carefully choose their words with regard to such inspection, due diligence, or feasibility periods and any termination rights.
If, on the other hand, a buyer desires to have a free-look period during which the buyer has the unfettered right to terminate the agreement in its sole discretion or for any or no reason, the buyer should recognize that doing so may raise questions as to the enforceability of such agreement on grounds that it is illusory. Oklahoma does have some fairly specific statutes addressing liquidated damages that should be considered in drafting a real estate purchase agreement.
One final point concerning liquidated damages should be mentioned. Oklahoma case law indicates that a liquidated damage remedy may not need to be exclusive and the parties may contractually provide for both liquidated damages and other remedies. More specifically, in Oltman Homes, Inc.
Oklahoma Purchase and Sale Issues for Buyers. By Rob Garbrecht This article will familiarize the reader with some of the unique issues, local laws, and customary practices that should be considered in connection with the acquisition of commercial real estate in Oklahoma.
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Forms of conveyance instruments; execution formalities; and lot splits In Oklahoma, the three most commonly used forms of deeds are the general warranty deed, the special warranty deed, and the quitclaim deed. A website that is useful to locate Oklahoma constitutional and statutory provisions and Oklahoma cases is www.
See YDF, Inc. Schlumar, Inc. Houck v. Hold Oil Co. Davis Oil Co. Cloud, P. Chesapeake Operating, Inc. Loomis, P.
YDF, Inc. The foot distance requirement is calculated from the well bore or other equipment to the closest exterior point of the dwelling or other subject building. Oklahoma Industries Authority v.
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Barnes, P. It should be noted, however, that in State ex rel.
Cartwright v. Dunbar, P. See 68 Okla. The Oklahoma County Assessor has a very good website, www. The website also allows one to search for properties in Oklahoma County by address and record owner and provides a significant amount of insurance for each such property. Some of the other more populated counties in Oklahoma have similar websites including Tulsa County, www. Nevertheless, it should be noted that there is language in both of these cases that could be viewed as indicating that in other factual contexts these statutes may be more suspect to a constitutional challenge.
See generally 68 Okla.
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See Okla. Section 5 of this Article discusses the distinction between conforming and non-conforming instruments. Section 5 of this Article, addressing execution formalities, contains a discussion of what causes an instrument to be non-conforming for this purpose. Denver Ave. We will mail out the deed if you enclose a self addressed stamped envelope. The purchaser will be responsible for filing the deed with the County Clerk.
Oklahoma Purchase and Sale Issues for Buyers – McAfee & Taft
The purchaser will be responsible for payment of any taxes due the state. You are not allowed on the property prior to filing the deed if you are the winning bidder. Download the Bidder Form- Click Here. The Civil Desk is situated on the west end of the north side of the courthouse building, on the first floor. Continue Reading. To retrieve the personal property of a person arrested and placed in the Tulsa County Jail, please contact the DLM property room at Foreclosure Sales Location.
Included in these records are deeds, mortgages, liens and subdivision plats. This division also files other miscellaneous records including military discharge papers.
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For more information contact us at or landrecords tulsacounty. As of August 01, the Tulsa County Clerk's office began accepting documents filed electronically. You may contact the companies listed below who contract to send your original scanned documents to the Recording Department. Upon receipt, the documents are reviewed and accepted or rejected. If accepted, the document is assigned an instrument number, along with the complete filing information.