Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1646 Compare Versions

Only one version of the bill is available at this time.

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53	53	STATE OF OKLAHOMA
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55	55	2nd Session of the 59th Legislature (2024)
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57	57	SENATE BILL 1646 By: Newhouse
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61	61	AS INTRODUCED
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63	63	An Act relating to the Nontestamentary Transfer of
64	64	Property Act; requiring certain option be offered to
65	65	buyers of interest in real property; requiring
66	66	designation of grantee benefi ciary in accordance with
67	67	certain requirements; providing for codification; and
68	68	providing an effective date .
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73	73	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
74	74	SECTION 1. NEW LAW A new section of law to be codified
75	75	in the Oklahoma Statutes as Section 1259 of Title 58, unless there
76	76	is created a duplication in numbering, reads as follows:
77	77	During a closing conducted by a third -party closing agent,
78	78	including settlement agents, att orneys, and escrow and title
79	79	companies, the buyer of an interest in real property shall be
80	80	offered the option to use a transfer-on-death deed. If the buyer
81	81	chooses to use such deed, the buyer shall designate a grantee
82	82	beneficiary or beneficiaries of the i nterest in accordance with the
83	83	requirements of the Nontestamentary Transfer of Property Act.
84	84	SECTION 2. This act shall become effective November 1, 2024.
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86	86	59-2-2760 TEK 1/16/2024 11:04:42 AM