During the 2023 legislative session, the Oklahoma Legislature passed Senate Bill 212 which amended 60 Okla. Stat. §121 to require that all deeds filed with a county clerk in Oklahoma must include an affidavit executed by the grantee attesting that they are taking title in compliance with the state laws on foreign ownership of land. These laws require that the grantee is either a U.S. Citizen, a Native American born in the United States, an alien, or a person who is not a U.S. citizen, but who is or may become a bona fide resident of Oklahoma, or a business entity or trust which is similarly either owned by U.S. citizens or aliens who are or may become bona fide residents of Oklahoma.
The Importance of Due Diligence | Gunner Joyce, Attorney at Law
Buying property can be a gamble for purchasers that rush to the closing table as quickly as possible. However, if a buyer allocates adequate time to investigate the property, that buyer is able to mitigate the potential for risk, become more familiar with the entitlements of the property, and make an educated decision as to whether the property is worth the negotiated purchase price. Below is a list of items that should be carefully reviewed before a buyer becomes contractually obligated to proceed to closing: