Oklahoma deed forms are legal documents that prove the transfer of an interest in real estate. The current owner and the potential owner use these forms between them.
Deeds include the name of the seller or grantor, the name of the buyer or grantee, the description of the buildings and properties involved, and a signed notary. Deeds go by various labels depending on the use of the paperwork.
Laws involved in the state of Oklahoma for deeds fall under Title 16 (Conveyances).
A warranty deed is a type of protection for the buyer. The seller is required to warrant that they legally own the property in full and have no outstanding debts, hidden claims, or mortgages. The seller may be held liable for damages if an issue is found in the deed or property.
Once grantor and grantee have filled out the deed and a notary has seen it, the form gets filed at the county registrar where the property is located.
A quitclaim deed is a release from any claimed interest in a property. Quitclaims nullify liability. If someone discovers a competing claim later, the owner of the quitclaim is free of that liability. It does not, however, guarantee title to the property. These deeds are used sparingly and require more care by the grantee.
Deeds get filled out, observed by a notary, and then filed in the county registrar where the property lies.
A special warranty deed is like a regular warranty deed, but the seller guarantees that neither themselves nor anyone associated with them nor through them has outstanding debts or mortgages. The seller may be held liable for damages if an issue is found in the deed or property.
Like other deeds, these get filled out, observed by a notary, and filed in the county registrar of the location of the property.
A deed of trust is a legal agreement between a lender and a borrower to transfer an interest in the borrower’s real estate to a third party known as a trustee. It also secures payment of debts as an alternative to a traditional mortgage. It is sometimes called a Potomac Mortgage. The third party holds the trust, but the borrower owns the title.
Deeds of trust get filled, acknowledged by a notary, and then filed in the county registrar in the location of the property.
If you’re looking to file an Oklahoma property deed, deed of trust, or other types of Oklahoma deeds, these frequently asked questions may help.