Transfer on death deeds (TODDs) in Oklahoma are governed by the Nontestamentary Transfer of Property Act (Title 58 O.S. 1251-1258), enacted in 2008. This law allows owners of interests in real property located in Oklahoma to designate one or more beneficiaries to receive those interests after the owner dies, but without the need for probate.
Owners who execute and record a TODD retain absolute control over and use of the property interest while living. In addition, they may modify, revoke, or otherwise convey the land any way they wish, without penalty or obligation to the beneficiaries. This is possible because unlike a traditional conveyance, there is no delivery requirement to notify the beneficiaries about what they might receive -- the deed only conveys a potential future interest in whatever remains after the owner's death ( 58-1252(B), 1257).
The statutes define an interest in real property to include "any estate or interest in, over or under land, including surface, minerals, structures and fixtures" ( 58-1252)(A)), meaning that the transfer is not limited to land, but can also include mineral rights and royalties.
Even though a TODD is not impacted by the owner's will, to reduce the likelihood of fraud and coercion, it demands the same standards of competence and capacity. Additionally, the document must be signed and acknowledged, in the presence of a notary, by the owner and two disinterested witnesses (individuals with no potential claims on the property rights) prior to recording ( 58-1253, 1258).
After the owner dies, each surviving beneficiary must execute and record an affidavit affirming his/her acceptance of the transfer ( 58-1252(C), (D)). The beneficiary takes the interest subject to all recorded obligations related to it.
NOTE: The transfer on death deed and any associated changes or revocations must be recorded, DURING THE OWNER'S LIFE, in the county where the property is located.
Overall, a transfer on death deed offers a convenient, flexible estate planning tool for owners of interests in Oklahoma real property. Each circumstance is unique, so consider all options carefully. For additional information or complex situations, contact a local attorney.
Deeds.com Oklahoma Transfer on Death Deed Forms Have Been Updated as Recently as Wednesday September 18, 2019
What others like you are saying:
Michael L. said: I accidentally ordered the wrong deed package. Was looking for a quit claim deed and got a trustee deed. I immediately emailed the company, nothing back from them. I would like to exchange my purchase.
Reply from Staff: Thank you for your feedback. We replied to your message on December 20th at 2:05 pm, the reply was as follows: As a one time courtesy we have canceled your order/payment for the Trustee Deed document.
Michelle N. said: Great experience
Reply from Staff: Thank you Michelle.
Susan C. said: easy to use to get copy of documents. given your website by recorder in the country offices.
Reply from Staff: Thank you Susan, we appreciate your feedback.
sheila m. said: Very happy with the forms. Ease of use and price were points for high marks.
Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!
chungming a. said: easy to use website.
Reply from Staff: Thank you!
Thomas E. said: Great, immediate access to everything I needed to assist my client! This is truly a great resource for a Notary Public! I will surely keep my account open, and will refer others as well!
Reply from Staff: Thank you for the Kind words Thomas. We really appreciate you! Have a great day.
Select County where the property is located.