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SENATE FLOOR VERSION
February 27, 2025
SENATE BILL NO. 877 By: Bullard of the Senate
and
Maynard of the House
An Act relating to deed regulation; creating a
criminal penalty; providing for certain imprisonment;
defining term; amending 59 O.S. 2021, Section 858-
307.2, which relates to continuing education
requirements for certain licensees; requiring certain
continuing education course; amending 59 O.S. 2021,
Section 858-351, which relates to the cause of
suspension or revocation of license; ex panding
application of certain definitions; requiring certain
notification to buyer; providing for codification;
and providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new se ction of law to be codified
in the Oklahoma Statutes as Section 1534 of Title 21, unless there
is created a duplication in numbering, reads as follows:
A. Any person who commits deed theft shall, upon conviction, be
guilty of a felony, punishable by impri sonment in the custody of the
Department of Corrections for not more than two (2) years, or a fine
not exceeding Five Thousand Dollars ($5,000.00 ), or both such
imprisonment and fine.
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B. As used in this section, “deed theft” means to:
1. Intentionally al ter, falsify, forge, or misrepresent
property documents such as a residential or commercial deed or
title, with the intent to deceive, defraud, or unlawfully transfer
or encumber the ownership rights of a residential or commercial
property;
2. Misrepresent oneself as the owner or authorized
representative of residential or commercial real property in order
to obtain ownership or possession of such real property; or
3. With intent to defraud take, obtain, steal, or transfer
title or ownership of real prope rty by fraud, forgery, larceny, or
any other fraudulent or deceptive practice .
SECTION 2. AMENDATORY 59 O.S. 2021, Section 858 -307.2,
is amended to read as follows:
Section 858-307.2. A. Beginning November 1, 2004, as a
condition of renewal or reactivation of the license, each licensee
with the exception of those exempt as set out in this section shall
submit to the Oklahoma Real Estate Commission evidence of completion
of a specified number of hours of continuing education cours es
approved by the Commission, within the thirty -six (36) months
immediately preceding the term for which the license is to be
issued. The number of hours, or its equivalent, required for each
licensed term shall be determined by the Commission and promul gated
by rule. Each licensee shall be required to complete and include as
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part of said continuing education a certain number of required
subjects as prescribed by rule.
B. The continuing education courses required by this section
shall be satisfied by co urses approved by the Commission and offered
by:
1. The Commission;
2. A technology center school;
3. A college or university;
4. A private school;
5. The Oklahoma Association of Realtors, the National
Association of Realtors, or any affiliate thereof ;
6. The Oklahoma Bar Association, American Bar Association, or
any affiliate thereof; or
7. An education provider.
C. The Commission shall ma intain a list of courses which are
approved by the Commission.
D. The Commission shall not issue an active ren ewal license or
reactivate a license unless the continuing education requirement set
forth in this section is satisfied within the prescribed time
period.
E. The provisions of this section do not apply:
1. During the period a license is on inactive statu s;
2. To a licensee who holds a provisional sales associate
license;
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3. To a nonresident licensee licensed in this state if the
licensee maintains a current license in another state or states and
has satisfied the continuing education requirement for lic ense
renewal in that state or states. If the nonresident licensee is
exempt from the continuing education requirements in all states
where the nonresident holds a license, the nonresident licensee
shall successfully complete this state ’s continuing education
requirement for license renewal or reactivation; or
4. To a corporation, association, partnership , or branch
office.
F. The Oklahoma Real E state Commission shall require each
licensee to receive a specified number of hours of continuing
education courses on deed theft, as defined in Section 1 of this
act. Each licensee shall be required to complete such continuing
education on or before November 1, 2028.
SECTION 3. AMENDATORY 59 O.S. 2021, Section 858 -351, is
amended to read as follows:
Section 858-351. Unless the context clearly indicates
otherwise, as used in Sections 858 -351 through 858-363 of The
Oklahoma Real Estate License Code, and Section 4 of this act:
1. “Broker” means a real estate broker, an associated broker
associate, sales associate, or provisional sales associate
authorized by a real estate broker to provide brokerage services;
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2. “Brokerage services” means those services provided by a
broker to a party in a transaction;
3. “Party” means a person who is a s eller, buyer, landlord, or
tenant or a person who is involved in an option or exchange;
4. “Transaction” means an activity or process to buy, se ll,
lease, rent, option or exchange real estate. Such activities or
processes may include, without limitation, soliciting, advertising,
showing, or viewing real property, presenting offers or
counteroffers, entering into agreements , and closing such
agreements; and
5. “Firm” means a sole proprietor, corporation, association , or
partnership.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 858 -364 of Title 59, unless
there is created a dupli cation in numbering, reads as follows:
As part of each closing of a transaction, notification on the
signs and risks of deed theft, as defined in Section 1 of this act,
shall be required to be given to the buyer. The buyer shall confirm
receipt of such notification by affixing his or her signature to
such notification. The Oklahoma Real Estate Commission shall
promulgate rules to enact the provisions of this section .
SECTION 5. This act shall become effective November 1, 2025.
COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND INSURANCE
February 27, 2025 - DO PASS