New OK law goes into effect on November 1, 2023. SB 212 requires any deed that is recorded with the county clerk to include an affidavit as an exhibit that is executed by the person, entity, or trust coming into title attesting that the person, entity, or trust is taking title in compliance with state laws on foreign ownership of property.
Here is the link.
Is there a standardized form for the affidavit?
Not really sure what that does for anyone other than a waste of time and allow the county to charge for an additional page in the filing fee?
The links for the affidavits are in the article.
All because some crazy legislators are worried about the Chinese coming in and buying âLANDâ, not minerals, so they can grow marijuana to sell. It is quite a burdensome requirement on the public and totally useless. Liars will always be liars so this Exhibit wonât do a thing to stop them.
I am working with lawyers now to get the AG to amend this silly law or in the alternative we are going to prepare Conveyances or Assigns that are not Deeds.
And I think the Exhibit that is to be attached is 2 pages.
According to the link provided, land includes minerals as well. Iâm also thinking of the water issue in Ariz where SA is renting/owns property and is growing cattle feed crops to export back to SA and is using tons of ground water to do it. The ground water usage is the issue, exporting back to SA is the icing on top. SA was using shell companies to hide true ownership.
Any foreign land ownership is a possible problem, no matter who owns it friendly nation or not. I just wish there was a better definition of bona fide resident. Pretty holely if you ask me. Most likely this is a taxation related issue under the surface.
Does the affidavit requirement include âgiftâ deeds to children?
As an Az land owner I can tell you the Governor recently took action to stop foreign use of our groundwater. I would have to do more research to provide specifics, but I know she stopped the use.
Hi John: I would suggest you read the Statute for yourself to get your opinion, or even better, run it by your attorney for his take. Most likely he/she say âJohn, its only $4.00â!
And to Lenore: Be very careful about taking as facts, a document full of bullet points written by the Oklahoma Real Estate Commission. Why? Well here is what the Oklahoma Statutes say about real estate:
Title 59. Professions and Occupations §59-858-102. Definitions.
And Lenore, you are more than correct that the bill is âholelyâ. This bill is nothing more than another legislative mess created over a âsky is fallingâ fear that will take more legislative time to fix. It reminds me of the County Commissioners scandals back in the 80âs and the proposal by the late Gene Stipe to close the county clerkâs records to the public as âonly abstractorsâ understand the filed documents. Of course Gene owned several abstract offices. I smell a county clerks grab at more filing fees like Bob77 does.
Todd M. Baker
Thatâs why I said according to the link. Itâs obviously just a plain language/FAQ, not a reprint of the particular statue. Wouldnât mind seeing the exact statue wording. Is there a link for that? I might have missed that.
Wording of OK Senate Bill 212
http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20ENR/SB/SB212%20ENR.PDF
So according to the actual statue just enacted the word âlandâ is used. Not âreal estateâ. Is there some kind of definition that conflates the two, or are they totally different identities?
The links donât seem to be working for meâŚ.is there another place they can be found?
The link got stuck for a bit. Firefox had an update (if you are using it.). I hit refresh and then it worked.
There are expected to be some âlearning painsâ with this newly enacted statute. I am having some resistance to filing decrees and judgments with County Clerks improperly requiring compliance with the statute. The statute states: `***
any deed recorded with a county clerk shall include as an exhibit to the deed an affidavit executed by the person or entity coming into title
***` Stay tuned for impact on judgments, probate/divorce decrees, transfer on death deeds, etc.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
Iâm assuming this does not apply retroactively? So I wouldnât have to go update deeds or something like that?
Effective Date Nov 1, 2023.
This bill SB212 hurts badly! I have spent several thousand dollars on due diligence and legal fees in preparation for petitioning for personal representative and successor trustee for the estate of my late aunt. The lawyer was just going to send in the petition. Also, have spent several hundred hours during 3 years (ancillary probate so is complicated) Have been reading and researching about title and the OK mineral interest of the existing 40 productive acres trying to obtain information from operators etc. Now all looks forlorn. Reading the required trust affidavit at ok.gov it looks as though the other 4 beneficiaries in the RLT are blocked from distribution because I happen to be an alien. Is there any hope for this quest?
Kaskelot: This new law is causing lot of problems. If you are resident of Oklahoma, you may still own property here. Part of the affidavit states:
affidavit_individual.pdf (95.0 KB)
I suspect that the law will be challenged or amended. One solution which could aid the other 4 heirs would be to have their interests conveyed to them by separate deeds. Of course this doesnât help your.
This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.
Thank you for the info. Didnât hear of this