Agreement or Contract for Deed for Sale and Purchase of Real Estate a/k/a Land or Executory Contract
OKLAHOMA STATUTES
TITLE 15 CONTRACTS
CHAPTER 1 NATURE OF CONTRACTS
§ 15-1. Definition — “Contract”.
A contract is an agreement to do or not to do a certain thing.
Historical Data
R.L. 1910 § 875.
§ 15-2. Requisites of a Contract.
It is essential to the existence of a contract that there should be:
1. Parties capable of contracting.
2. Their consent.
3. A lawful object; and,
4. Sufficient cause or consideration.
R.L.1910, § 876.
OKLAHOMA STATUTES
TITLE 15 CONTRACTS
CHAPTER 1 NATURE OF CONTRACTS
PARTIES AND CAPACITY
§ 15-11. Persons Authorized to Contract.
All persons are capable of contracting, except minors, persons of unsound mind, and persons deprived of civil rights, however, persons sentenced to imprisonment under the Department of Corrections for any term, during confinement under said sentence, may make employment contracts, subject to the approval of the Director of the Department of Corrections, when this benefits the vocational training or release preparation of the prisoner; provided however, such persons during confinement shall not be eligible to receive benefits under the unemployment compensation law.
R.L.1910, § 877; Laws 1976, c. 163, § 1, emerg. eff. June 1, 1976.
OKLAHOMA STATUTES
TITLE 15 CONTRACTS
CHAPTER 1 NATURE OF CONTRACTS
CONSENT, ACCEPTANCE AND REVOCATION
§ 15-51. Consent of Parties to a Contract.
The consent of the parties to a contract must be:
1. Free.
2. Mutual; and,
3. Communicated by each to the other.
R.L.1910, § 896.
§15-52. Rescission where consent not free.
A consent which is not free, is nevertheless not absolutely void, but may be rescinded by the parties in the manner prescribed by Article 5 of this chapter.
R.L.1910, § 897.
§15-53. When consent not real.
An apparent consent is not real or free when obtained through:
1. Duress.
2. Menace.
3. Fraud.
4. Undue influence. or,
5. Mistake.
R.L.1910, § 898.
OKLAHOMA STATUTES
TITLE 16 CONVEYANCES
CHAPTER 1 GENERAL PROVISIONS
§ 16-1. Persons Who May Convey — Married Persons — Legal entities.
A. Any person at least eighteen (18) years of age, being otherwise qualified thereto, and all persons upon whom the rights of majority have been conferred, and any legal entity, may own and transfer real property. Provided, that any persons of whatsoever age, who have been legally married and who are otherwise qualified, may own and transfer real property acquired after marriage.
B. A transfer of real property may be made to, and title taken in, the name of a legal entity or of an office, in which case the title vests in the entity or the person from time to time holding the office.
C. As used in this section, “entity” or “legal entity” means a corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, joint venture, an unincorporated association formed for the purposes authorized by the Interlocal Cooperation Act in Section 1003 of Title 74 of the Oklahoma Statutes or any other entity otherwise authorized by statute to hold title to real property.
D. Unless otherwise provided by statute, a defunct or dissolved entity continues in existence for the purpose of transferring real property.
R.L. 1910, § 1140. Amended by Laws 1972, c. 221, § 5, eff. Aug. 1, 1972; Laws 1995, c. 232, § 2, eff. Nov. 1, 1995.
§16-2. Witness not necessary.
No subscribing witness shall be necessary to the validity of any deed, mortgage, contract, lease, bond, or other instrument conveying, affecting or relating to real estate.
R.L.1910, § 1141.
§16-3. Attorney-in-fact.
Any instrument affecting real estate may be made by an attorney-in-fact, duly appointed and empowered as hereinafter provided.
R.L.1910, § 1175.
§16-4. Necessity of writing and signing – Veterans’ loans – Homestead – Joinder of husband and wife – Effect of record for 10 years.
A. No deed, mortgage, or conveyance of real estate or any interest in real estate, other than a lease for a period not to exceed one (1) year, shall be valid unless in writing and subscribed by the grantors. No deed, mortgage, or contract affecting the homestead exempt by law, except a lease for a period not exceeding one (1) year, shall be valid unless in writing and subscribed by both husband and wife, if both are living and not divorced, or legally separated, except as otherwise provided for by law.
B. Unless specifically restricted, an attorney-in-fact may execute a valid deed, mortgage or contract affecting the homestead exempt by law including the principal’s personal homestead rights on behalf of:
1. A husband;
2. A wife; or
3. A husband and wife.
C. In order for the execution of an instrument affecting the exempt homestead by an attorney-in-fact to be valid, the power of attorney authorizing execution of a deed, mortgage, or contract affecting the homestead exempt by law shall be recorded with the county clerk of the county or counties in which the affected property is located.
D. Nonjoinder of the spouse shall not invalidate the purchase of a home with mortgage loan insurance furnished by the Veteran’s Administration or written contracts and real estate mortgages executed by the spouse of a person who is certified by the United States Department of Defense to be a prisoner of war or missing in action. A deed affecting the homestead shall be valid without the signature of the spouse of the grantor, and the spouse shall be deemed to have consented thereto, when said deed has been recorded in the office of the county clerk of the county in which the real estate is located for a period of ten (10) years prior to a date six (6) months after May 25, 1953, and thereafter when the same shall have been so recorded for a period of ten (10) years, and no action shall have been instituted within said time in any court of record having jurisdiction seeking to cancel, avoid, or invalidate such deed by reason of the alleged homestead character of the real estate at the time of such conveyance.
R.L. 1910, § 1143. Amended by Laws 1945, p. 40, § 1; Laws 1953, p. 64, § 1; Laws 1973, c. 24, § 1, emerg. eff. April 17, 1973; Laws 1983, c. 309, § 1, operative Oct. 1, 1983; Laws 1997, c. 80, § 1, eff. Nov. 1, 1997.
§16-5. Validation of conveyances.
All deeds, mortgages and contracts relating to real estate or any interest therein executed since the taking effect of Chapter 8, of the Session Laws of Oklahoma, 1897, executed in accordance with the provisions of the preceding section are hereby declared to be legal and valid.
R.L.1910, § 1144.
§16-6. When husband or wife may convey homestead.
Where the title to the homestead is in the husband, and the wife voluntarily abandons him for a period of one (1) year or from any cause takes up her residence out of the state, he may convey, mortgage or make any contract relating thereto without being joined therein by her; and where the title to the homestead is in the wife and the husband voluntarily abandons her, or from any cause takes up his residence out of the state for a period of one (1) year she may convey, mortgage or make any contract relating thereto without being joined therein by him.
R.L.1910, § 1145.
§16-7. Husband or wife of incapacitated spouse may sell, convey, lease or mortgage homestead held in joint tenancy.
In case of a homestead held in joint tenancy, if one spouse becomes incapacitated, upon application of the other spouse to the district court of the county in which the homestead is located, and upon due proof of said incapacity, the court may issue an order permitting said other spouse to sell, convey, lease, lease for oil and gas mining purposes, or mortgage the homestead. For purposes of this section and Sections 3 and 4 of this act “incapacitated” or “incapacity” means impairment due to mental illness, mental deficiency, physical illness or disability, to the extent the individual lacks sufficient understanding or capacity to make or communicate responsible decisions.
Amended by Laws 1983, c. 309, § 2, operative Oct. 1, 1983.
§16-8. Verified petition to be filed.
The applicant shall present and file in the district court a verified petition setting forth the name and age of the incapacitated spouse, a description of the homestead, the county in which the homestead is located, and such other facts relating to the circumstances and needs of the applicant and his family that may support the petition.
Amended by Laws 1983, c. 309, § 3, operative Oct. 1, 1983.
§16-9. Copy of petition to be served.
At least thirty (30) days before the hearing of the petition, the applicant or his attorney shall serve a copy of the petition upon the nearest competent relative of the incapacitated spouse in this state. If there is no such relative known to the applicant, a copy of the petition shall be served upon the district attorney of the county in which the homestead is located. The district attorney, if served with a copy of the petition, shall appear in court and see that the application is made in good faith and that the proceedings thereon are fairly conducted.
Amended by Laws 1983, c. 309, § 4, operative Oct. 1, 1983.
§16-9.1. Notice of sale – Orders.
Any sale provided for in this act shall be conducted pursuant to the notice and order provisions of Sections 826, 827 and 833 of Title 58 of the Oklahoma Statutes.
Added by Laws 1983, c. 309, § 5, operative Oct. 1, 1983.
§16-10. Order of sale to be entered of record.
If the court shall make the order authorizing the sale of the homestead as herein provided, the same shall be entered upon the minutes of the court and thereafter the sale, conveyance, lease, or mortgage made in pursuance of such order shall be as valid and effectual as if the property affected thereby was the absolute property in fee simple of the person making such sale, conveyance, lease or mortgage.
R.L.1910, § 1149. Amended by Laws 1947, p. 81, § 2.
§16-11. Estoppel by receiving benefits.
Any person or corporation, having knowingly received and accepted the benefits or any part thereof, of any conveyance, mortgage or contract relating to real estate shall be concluded thereby and estopped to deny the validity of such conveyance, mortgage or contract, or the power or authority to make and execute the same, except on the ground of fraud; but this section shall not apply to minors or persons of unsound mind who pay or tender back the amount of such benefit received by themselves.
R.L.1910, § 1150.
§16-11A. Constructive mortgage – Exemptions.
All contracts for deed for purchase and sale of real property made for the purpose or with the intention of receiving the payment of money and made for the purpose of establishing an immediate and continuing right of possession of the described real property, whether such instruments be from the debtor to the creditor or from the debtor to some third person in trust for the creditor, shall to that extent be deemed and held mortgages, and shall be subject to the same rules of foreclosure and to the same regulations, restraints and forms as are prescribed in relation to mortgages. No foreclosure shall be initiated, nor shall the court allow such proceedings, unless the documents have been filed of record in the county clerk’s office, and mortgage tax paid thereon, in the amount required for regular mortgage transactions. Provided, however, mutual help and occupancy agreements executed by an Indian housing authority created pursuant to Section 1057 of Title 63 of the Oklahoma Statutes shall not be considered to be mortgages or contracts for deed under the provisions of this section.
Amended by Laws 1983, c. 108, § 1, emerg. eff. May 12, 1983.
§16-12. Officers’ deeds recorded.
Deeds executed by any sheriff or other officer, for real estate sold under execution, order of sale, or pursuant to any order or decree of court, shall be executed, acknowledged and recorded in the manner and with like effect as other deeds.
R.L.1910, § 1151.
§16-13. Conveyance of separate property.
The husband or wife may convey, mortgage or make any contract relating to any real estate, other than the homestead, belonging to him or her, as the case may be, without being joined by the other in such conveyance, mortgage or contract.
R.L.1910, § 1152.
§16-14. Terms defined.
The words “land,” “real estate” and “premises” when used herein or in any instrument relating to real property, are synonyms and shall be deemed to mean the same thing, and unless otherwise qualified, to include lands, tenements and hereditaments; and the word “appurtenances” unless otherwise qualified shall mean all improvements and every right of whatever character pertaining to the premises described.
R.L.1910, § 1153.
§16-15. Necessity of acknowledgment and recording – Condition for judgment lien to be binding against third persons.
Except as hereinafter provided, no acknowledgment or recording shall be necessary to the validity of any deed, mortgage, or contract relating to real estate as between the parties thereto; but no deed, mortgage, contract, bond, lease, or other instrument relating to real estate other than a lease for a period not exceeding one (1) year and accompanied by actual possession, shall be valid as against third persons unless acknowledged and recorded as herein provided. No judgment lien shall be binding against third persons unless the judgment lienholder has filed his judgment in the office of the county clerk as provided by and in accordance with Section 706 of Title 12 of the Oklahoma Statutes.
R.L. 1910, § 1154; Laws 1992, c. 119, § 1, eff. Sept. 1, 1992; Laws 1993, c. 351, § 6, eff. Sept. 1, 1993.
§16-16.1. Filing of special improvement district assessment in office of county clerk.
Within thirty (30) days after the effective date of this act or after the formation of a new special improvement, protection, or conservancy district, the clerks and secretaries of all such districts shall record in the office of the county clerk of the county in which any part of the district is located a certified copy of the ordinance, resolution, or order of the court creating the district, and a plat of all parcels or tracts of land included in said district. If thereafter the boundaries of the district are enlarged or diminished by the creating authority, the clerk shall record a certified copy of the ordinance, resolution, or order of the court so enacted in the office of the county clerk within thirty (30) days after said enactment. The county clerk shall record the plat of the special district at such fees as provided by law for recording plats, and indicate the land affected on the numerical index. Liens for assessments levied thereafter by any such district shall not attach to the lands within the district until such ordinance, resolution, or order of the court is recorded. Provided that nothing herein shall be construed as affecting any liens or assessments existing prior to the effective date of this act.
Added by Laws 1980, c. 255, § 1, eff. Oct. 1, 1980.
§16-17. After-acquired title.
All rights of a mortgagor or grantor in and to the premises described in the instrument and existing at the time or subsequently accruing, shall accrue to the benefit of the mortgagee or grantee, and be covered by his mortgage or conveyed by his deed, as the case may be.
R.L.1910, § 1160.
§16-18. Quitclaim conveys what.
A quitclaim deed, made in substantial compliance with the provisions of this chapter, shall convey all the right, title and interest of the maker thereof in and to the premises therein described.
R.L.1910, § 1161.
§16-19. Warranty deed conveys what – Implied terms.
A warranty deed made in substantial compliance with the provisions of this chapter, shall convey to the grantee, his heirs or assigns, the whole interest of the grantor in the premises described, and shall be deemed a covenant on the part of the grantor, that at the time of making the deed he is legally seized of an indefeasible estate in fee simple of the premises and has good right and full power to convey the same; that the same is clear of all encumbrances and liens, and that he warrants to the grantee, his heirs and assigns, the quiet and peaceable possession thereof, and will defend the title thereto against all persons who may lawfully claim the same, and the covenants and warranty shall be obligatory and binding upon any such grantor, his heirs and personal representatives as if written at length in such deed.
R.L.1910, § 1162.
§16-20. Power of attorney – Execution – Recording.
A power of attorney in fact for the conveyance of real estate or any interest therein, or for the execution or release of any mortgage therefor, shall be executed, acknowledged and recorded in the manner required by this chapter for the execution, acknowledgment and recording of deeds and mortgages, and shall be recorded in the county where the land is situated, and no deed, mortgage or release of a mortgage executed by an attorney in fact shall be received for record or recorded until the power under which the same is executed has been duly filed for record in the same office; and the recording of any deed, mortgage or release of mortgage shall be of no effect for any purpose until the power under which it is executed has been duly filed for record in the same office. Provided that any power of attorney promulgated by any agency of the Government of the United States shall be deemed sufficiently recorded for purposes of this section if the promulgation thereof shall have been published in the Federal Registry of the Government of the United States and any instrument executed pursuant to said power of attorney recites the specific reference to said publication.
R.L.1910, § 1163; Laws 1977, c. 69, § 1, emerg. eff. May 23, 1977.
§16-39a. Record of deeds, mortgages, etc., where acknowledgment defective – Validation.
All deeds, mortgages, conveyances, or other instruments affecting the title to real property in the state, the acknowledgment of which was taken and certificate of acknowledgment executed by a Justice of the Peace of the county wherein such real property is situated, and/or where any notarial acknowledgment was taken before a notary public of any county in this state or of any other state where the certificate of acknowledgment is defective in form, and where any such instrument has actually been filed and recorded or copied into the permanent volumes of public title records in the office of the county clerk of the county in which said property is situated for a period of five or more years and has not been canceled of record, the recording of any such instrument is and shall be and become a valid public record in all respects and for all purposes as fully as if the same had been originally acknowledged before and certificate executed by an authorized officer and in the manner and form required by law at the time of the execution thereof.
Laws 1937, p. 313, § 1.
§16-29. Fee simple – Exception.
Every estate in land which shall be granted, conveyed or demised by deed or will shall be deemed an estate in fee simple and of inheritance, unless limited by express words.
R.L.1910, § 1175.
§16-40. Form of warranty deed.
A warranty deed to real estate may be substantially in the following form, towit:
Know all men by these Presents:
That____part__ of the first part, in consideration of the sum of ____ dollars, in hand paid, the receipt of which is hereby acknowledged, do hereby grant, bargain, sell and convey unto ____ the following described real property and premises, situate in ____ County, State of Oklahoma, to-wit: ____ together with all the improvements thereon and the appurtenances thereunto belonging, and warrant the title to the same.
To have and to hold said described premises unto the said part__ of the second part, ____ heirs and assigns forever, free, clear and discharged of and from all former grants, charges, taxes, judgments, mortgages and other liens and encumbrances of whatsoever nature;
Signed and delivered this ____ day of ____ 191_.
________________________.
R.L.1910, § 1184.
§16-41. Form of quitclaim deed.
A quitclaim deed to real estate may be substantially the same as a warranty deed, with the word “quitclaim” inserted in connection with the words “do hereby grant, bargain, sell and convey,” as follows: “Do hereby quitclaim, grant, bargain, sell and convey,” and by omitting the words, “and warrant the title to the same.”
R.L.1910, § 1185. 8
§16-42. Form of sheriff’s deed.
That from and after the passage of this act, a sheriff’s deed issued upon the sale of real estate sold by virtue of an execution, judgment or decree of foreclosure of mortgage, or partition of real estate, may be in the following form, towit:
Whereas____ did, at the ____ term of the ____ court of ____ County, State of Oklahoma, on the ____day of ____, A.D. 19__ in an action in said court, wherein____ was plaintiff and ____ was defendant, same being cause NO ____, recover a judgment (or decree) against ____ for the sum of ____, and costs of suit, upon which an execution or order of sale was issued, dated the ____ day of ____ A.D. 19__ directed to ____, to execute, by virtue of which the said ____ levied upon the premises hereinafter described, and the time and place of sale thereof having been duly advertised according to law, the same were struck off and sold to ____ he being the highest and best bidder therefor, and the later said sale was duly confirmed by the District Court and deed ordered to issue.
Now, Therefore, Know All Men By These Presents, that I, ____ Sheriff, of the County of ____, State of Oklahoma, in consideration of the premises, do hereby convey to the said ____, his heirs and assigns, the following described lot or parcel of land (here describe the premises).
To Have and To Hold The Same with all the appurtenances thereto belonging to the said ____ his heirs and assigns, forever.
Witness my hand and seal, this ____ day of ____ 19__.
__________________________
Sheriff.
State of Oklahoma
____ County ss.
Be it remembered that on this ____ day of ____ in the year one thousand nine hundred and ____, before me, ____, a notary public, personally appeared ____, Sheriff of ____ County, Oklahoma, well known to me to be the same person who is described in and who executed the within and foregoing instrument, and acknowledged to me that he executed the same as sheriff of____ County, Oklahoma, and as his free and voluntary act and deed, for the uses and purposes therein set forth.
In witness whereof, I have hereunto set my hand and official seal, at said county, the day and year last above written.
______________________
Notary Public, State of
Oklahoma, ________.
Oklahoma.
My Commission expires _____.
Said deed may be issued in this form and no further recitals therein are necessary.
Laws 1941, p. 56, § 1.
OKLAHOMA STATUTES
TITLE 16 CONVEYANCES
CHAPTER 1 GENERAL PROVISIONS
SIMPLIFICATION OF LAND TITLES
§ 16-61. Definitions.
For the purposes of this act: (a) An interest in real estate shall include, but not be limited to mortgage liens, interests of purchasers under contract of sale, leases, easements, oil and gas leases, and mineral and royalty interests. (b) A purchaser for value shall include one who has actual or constructive notice of the invalidity of the conveyance, decree or judgment under which his grantor claims immediately or remotely.
Laws 1961, p. 192, § 1.
§16-62. Purchasers for value of real estate – Reliance upon status of title as reflected by county records and by decrees and judgements of courts.
(a) Any purchaser for value acquiring an interest in real estate from one who claims such interest, immediately or remotely, under a conveyance of record for ten (10) or more years in the records of the county wherein the land is located prior to such purchase shall acquire a valid and marketable title to such interest as against any person claiming adversely to such recorded conveyance for any of the following reasons: (1) that such conveyance was executed by an incompetent person, unless the county court records in the county wherein the land is located, or the county records therein, reflect the appointment of a guardian prior to said deed, or a judicial determination of the incompetency of the grantor, in which event Sections 61 through 66 of this title shall not apply, (2) that such conveyance was executed by a corporation to an officer thereof, which fact may or may not appear on the face of the deed, without proper authority therefor being had by the officers executing said conveyance, (3) that such conveyance was executed by an attorney in fact under a recorded power of attorney which power had terminated by reason of matters not affirmatively shown in the county records, or (4) that such conveyance was never delivered; Provided, however, this section shall not apply as against such person claiming adversely to any such conveyance for any of the foregoing reasons if prior to such purchase, or within one (1) year from October 27, 1961, the effective date of Sections 61 through 66 of this title, or from the effective date of Section 62, as amended, of this title, whichever later occurs, such person shall have filed of record in the county wherein the land is located a notice setting forth his claim and the basis thereof; and provided, further, that this section shall not apply as against any person in possession of the land either by occupancy or by occupancy of a tenant at the time such purchaser acquires his interest.
(b) Any purchaser for value acquiring an interest in real estate from one who claims such interest, immediately or remotely, by or through a conveyance from one purporting therein to be a guardian, executor, or administrator, which conveyance has been of record for ten (10) or more years in the county wherein said land is located prior to such purchase, and which conveyance either has the approval of the court endorsed upon it, or has been confirmed by an order of the court, shall acquire a valid and marketable title to such interest to the full extent that such conveyance purports to convey the same as against any of the following persons: (1) any ward or wards named in said conveyance, his or their heirs, devisees, representatives, successors, or assigns, (2) the State of Oklahoma or any other person claiming under the estate of any decedent named in said conveyance, the heirs, devisees, or representatives of such decedent, their successors, or assigns, or any creditors of said decedent; Provided, however, that this section shall not apply to any person mentioned in (1) or (2) above who for any reason claims adversely to such conveyance, or contends that such conveyance did not divest him of his interest as purported by such conveyance if prior to such purchase, or within one (1) year from October 27, 1961, the effective date of Sections 61 through 66 of this title, or from the effective date of Section 62, as amended, of this title, whichever is the later, such person shall file of record in the county wherein the land is located a notice setting forth his claim and the basis thereof; Provided, further, this section shall not apply as against any person in possession of the land, by occupancy or by occupancy of a tenant, at the time such purchaser acquires his interest.
(c) Any purchaser for value acquiring an interest in real estate from one who claims such interest, immediately or remotely, by or through (1) any decree of distribution or of partition in a decedent’s estate entered by and of record in a court of the county wherein the land is located for a period of ten (10) years prior to such purchase, or (2) any such decree entered by a court for any county in this state which decree has been of record in the county wherein the decree was entered or in the deed records of any county or counties in which any part of the land or lands is located for a period of ten (10) years prior to such purchase, shall acquire a valid and marketable title to such interest as against any claim or interest of the estate of said decedent or any heir or devisee, his successors or assigns, of said decedent or any creditors of said decedent; Provided, however, this section shall not apply if prior to such purchase, or within one (1) year from October 27, 1961, the effective date of Sections 61 through 66 of this title, or from the effective date of Section 62, as amended, of this title, whichever later occurs, such heirs, devisee, or representative of such estate files of record in the county wherein the land is located a notice setting forth the nature of his claim; Provided, further, this section shall not apply as against any person claiming adversely to such decree who is in possession of the land by occupancy or by occupancy of a tenant, at the time said purchaser acquires his interest.
(d) Any purchaser for value acquiring an interest in real estate from one who claims such interest, immediately or remotely, by or through any of the following muniments: (1) a sheriff’s or marshal’s deed executed pursuant to an order of a court having jurisdiction over the land affected confirming a judicial sale or directing the issuance of such deed, (2) any final judgment of a court having jurisdiction over the land affected determining and adjudicating the ownership of such land or any interest therein or partitioning same, (3) any conveyance by a receiver executed pursuant to an order of any court having jurisdiction and directing issuance thereof or directing a sale of such land or any interest therein, (4) any conveyance executed by a trustee or purported trustee referring to a trust agreement or referring to named beneficiaries or otherwise indicating the existence of an express trust where the trust agreement has not been recorded in the county where the land is situated, (5) a purported certificate tax deed or resale tax deed executed by the county treasurer of the county wherein the land is located; which muniment, if a conveyance has been of record in the county wherein the land is situated for a period of ten (10) years prior to such purchase, or, if a judgment has been entered for a period of ten (10) years prior to such purchase and, where such judgment is entered by a court outside the county where the land affected is located, has been recorded in the records of the court clerk or county clerk of the county in which such land is located, shall acquire a valid and marketable title to such interest as against the claims of the following: (A) any person or the heirs, devisees, personal representatives, successors or assigns of such person who was named as a defendant in the judgment preceding the sheriff’s or marshal’s deed referred to in subparagraph (1) above and whose rights or claims were not preserved by the terms of such judgment and who claims an interest by reason of any defect, jurisdictional or otherwise, in the proceedings resulting in such judgment, (B) any person or the heirs, devisees, personal representatives, successors or assigns of such person who was named as a defendant in the judgment referred to under subparagraph (2) above and whose rights or claims were not preserved by the terms of such judgment and who claims an interest by reason of any defect, jurisdictional or otherwise, in the proceedings resulting in such judgment, (C) any person or the heirs, devisees, personal representatives, successors or assigns of such person who was named as a defendant or owner or party in interest in the proceedings referred to in subparagraph (3) above, (D) any person or the heirs, devisees, personal representatives, successors or assigns of such person who claims as a settlor, trustee or beneficiary or by, through or under such settlor, trustee or beneficiary of the trust referred to in subparagraph (4) above, (E) any and all owners or claimants of such land or interest therein whose ownership or claim originated prior to such deeds as are referred to in subparagraph (5) above and the heirs, devisees, personal representatives, successors or assigns of such owners or claimants; Provided, however, this section shall not apply as against any such person claiming adversely to such muniments set forth hereinabove if prior to such purchase, or within one (1) year from October 27, 1961, the effective date of Sections 61 through 66 of this title, or from the effective date of Section 62, as amended, of this title, whichever later occurs, such person shall have filed of record in the records of the county wherein the land is located a notice setting forth his claim and the basis thereof; Provided, further, that this section shall not apply against any person claiming adversely to such muniment who is in possession of the land by occupancy or by occupancy of a tenant at the time said purchaser for value acquires his interest. The State of Oklahoma and its political subdivisions or a public service corporation or transmission company which has facilities of service installed on, over, across or under any part of the land shall, to that extent, be deemed to be in possession thereof for purposes of the foregoing provision.
Laws 1961, p. 192, § 2; Laws 1973, c. 184, § 1, operative Oct. 1, 1973.
OKLAHOMA STATUTES
TITLE 16 CONVEYANCES
CHAPTER 2 CONVEYANCES BY CORPORATIONS
§ 16-91. Corporations May Convey by Attorney.
Corporations, as well as individuals, may make, acknowledge and deliver instruments affecting real estate by an attorney in fact.
R.L.1910, § 1172.
§16-92. Instrument by corporation valid.
Every instrument affecting real estate or authorizing the execution of any deed, mortgage or other instrument relating thereto, executed and acknowledged by a corporation or its attorney in fact in substantial compliance with this chapter, shall be valid and binding upon the grantor, notwithstanding any omission or irregularity in the proceedings of such corporation or any of its officers or members, and without reference to any provision in its constitution or by-laws.
R.L.1910, § 1173.
§16-93. Manner of execution by corporation.
Every deed or other instrument affecting real estate made by a corporation must have the name of such corporation subscribed thereto either by an attorney-in-fact, president, vice-president, chairman or vice-chairman of the board of directors of such corporation.
R.L. 1910, § 1186; Laws 1987, c. 146, § 26, emerg. eff. June 24, 1987; Laws 1994, c. 238, § 4, eff. Sept. 1, 1994.
§16-95. Acknowledgment by corporation – Form.
Every deed or other instrument affecting real estate, executed by a corporation, must be acknowledged by an officer or attorney-in-fact subscribing the name of the corporation thereto, which acknowledgment may be in substantially a form as provided for in the Uniform Law on Notarial Acts or in substantially the following form:
State of Oklahoma, )
) ss.
__________ County. )
Before me, a ____ in and for this state, on this ____ day of ____, ____ personally appeared ____ to me known to be the identical person who subscribed the name of the maker thereof to the foregoing instrument as its (attorney-in-fact, president, vice-president, chair, or vice-chair of the board of directors or mayor, as the case may be) and acknowledged to me that ________ executed the same as ______ free and voluntary act and deed, and as the free and voluntary act and deed of the corporation, for the uses and purposes therein set forth.
R.L. 1910, § 1188; Laws 1994, c. 238, § 5, eff. Sept. 1, 1994; Laws 1999, c. 104, § 3, emerg. eff. April 19, 1999.
OKLAHOMA STATUTES
TITLE 16 CONVEYANCES
CHAPTER 3 UNIFORM VENDOR AND PURCHASER RISK ACT
§ 16-202. Rights and Duties of Parties.
Any contract hereafter made in this state for the purchase and sale of realty shall be interpreted as including an agreement that the parties shall have the following rights and duties, unless the contract expressly provides otherwise;
(a) if, when neither the legal title nor the possession of the subject matter of the contract has been transferred, all or a material part thereof is destroyed without fault of this purchaser or is taken by eminent domain, the vendor cannot enforce the contract, and the purchaser is entitled to recover any portion of the price that he has paid; or
(b) if, when either the legal title or the possession of the subject matter of the contract has been transferred, all or any part thereof is destroyed without fault of the vendor or is taken by eminent domain, the purchaser is not thereby relieved from a duty to pay the price, nor is he entitled to recover any portion thereof that he has paid.
Laws 1965, c. 92, § 2.
OKLAHOMA CASE LAW
In Oklahoma, all contracts for deed of real property are deemed mortgages and are subject to the same regulations, restraints, and forms as are prescribed in relation to mortgages; Conner v. Northwestern Nat’l Cas. Co., 1989 OK 85, 774 P.2d 1055, 1989 Okla. LEXIS 97 (Okla. May 30, 1989).
Party had no right to declare a forfeiture under a contract for deed where Okla. Stat. tit. 16, § 11A required a foreclosure on the lien. Lucas v. Bishop, 1998 OK 16, 956 P.2d 871, 1998 Okla.
Written land sales contract providing that the buyer’s earnest money would be forfeited as liquidated damages to the seller if the buyer wrongfully refused to close was made void by Okla. Stat. tit. 15, § 214, except as allowed under Okla. Stat. tit. 15, § 215; Shaw v. Ferguson, 1986 OK CIV APP 10, 767 P.2d 1358, 1986 Okla. Civ. App. LEXIS 76 (Okla. Ct. App. May 20, 1986).
