Req. No. 2694 Page 1 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
SENATE BILL 1705 By: Howard
AS INTRODUCED
An Act relating to alien ownership of land; amending
60 O.S. 2021, Section 121, as amended by Section 1,
Chapter 327, O.S.L. 2023 (60 O. S. Supp. 2023, Section
121), which relates to prohibition of alien ownership
of land; defining terms; adding entities prohibited
from certain ownership; updating statutory reference;
adding persons authorized to execute certain
affidavit; requiring notarization of certain
document; providing exemptions to certain
requirements; requir ing inclusion of specific
exemption on recorded deed; authorizing Attor ney
General to establish additional exemptions; allowing
substantial compliance to certain form requiremen ts;
and providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 60 O.S. 2021, Section 121, a s
amended by Section 1, Chapter 327, O.S.L. 2023 (60 O.S. Supp. 2023,
Section 121), is amended to read as follows:
Section 121. A. As used in Chapter 3 of this title:
1. “Deed” means any instrument in writing whereby land is
assigned, transferred, or other wise conveyed to, or vested in, the
person coming into title or, at his or her direction, any other
person;
Req. No. 2694 Page 2 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
2. “Foreign government” means a government other than the
federal government of the United States , the government of any
state, political subdiv ision of the state, tribe, territory, or
possession of the United States ;
3. “Foreign government enterprise ” means a business entity,
sovereign wealth fund , or state-backed investment fund in which a
foreign government holds a controlling interest ; and
4. “Land” means the same as defin ed in Section 6 of this title.
B. No alien, foreign government, or any person who is not a
citizen of the United States shall acquire title to or own land in
this state either directly or i ndirectly through a business entity,
or trust, or foreign government enterprise, except as hereinafter
provided, but he or she they shall have and enjoy in this state such
rights as to personal property as are, or shall be accorded a
citizen of the United States under the l aws of the nation to which
such alien belongs, or by the treaties of such nation with the
United States, except as the same may be affected by the provisions
of Section 121 et seq. of this title or the Constitution of this
state. Provided, however, the requirements of th is subsection shall
not apply to a business entity that is engaged in regulated
interstate commerce in accordance with federal law.
B. C. On or after the effective date of this act November 1,
2023, any deed recorded with a county clerk shall include as an
exhibit to the deed an affidavit executed by the person, the
Req. No. 2694 Page 3 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
person’s attorney-in-fact, a court-appointed guardian or personal
representative, an authorized officer of the or entity, or trustee
of the trust coming into title attesting that the person, business
entity, or trust is obtaining the land in compliance with the
requirements of this section and that no funding source is being
used in the sale or transfer in violation of this section or any
other state or federal law. A county clerk shall not accept and
record any deed without an affidavit as required by this secti on
which is duly notarized pursuant to Title 49 of the Oklahoma
Statutes. The requirements of this subsection shall not apply to a:
1. Deed which, without additional consideration, confirm s,
corrects, modifies, or supplements a deed previously recorded;
2. Deed made by a grantor to cure a defect in title or
effectuate a disclaimer of int erest in real property;
3. Transfer-on-death deed made by a grantor designat ing a
grantee beneficiary pursuant to the Nontestamentary Trans fer of
Property Act, Section 1251 et seq. of Title 58 of the Oklahom a
Statutes;
4. State or federal court order in an action to quiet title or
to cure a defect in tit le;
5. State or federal court order or decree in probate,
partition, quiet title, and divorce actions for which there is no
additional consideration paid;
Req. No. 2694 Page 4 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
6. Deed which secures a debt or other obligation, or which
releases such property as security for a debt or other obligation;
7. Deed of dedication to the public; or
8. Deed in favor of the United States or any of its political
subdivisions, a state or any of its political subdivisions, or a
tribe.
The applicable exemption shall be shown on the face of the de ed
prior to the recording of the deed .
D. The Attorney General shall promulgate a separate affidavit
form for individuals and for business entities or trusts to comply
with the requirements of this section, with the exception of those
deeds. The Attorney General may pro vide additional exemptions and
allow reasonable alterations to the affidavit forms which the
Attorney General deems necessary when promulgating the affidavit
form to substantially comply with the requirements of this section .
SECTION 2. This act shall become e ffective November 1, 2024.
59-2-2694 TEK 1/16/2024 4:51:34 PM