![]() ![]() The tax must be paid to the appropriate County Clerk when the deed is recorded, and the tax is at a rate of $0.75 for each $500.00 paid for the property. The property must either have a value of or have been sold for at least $100 for the tax to apply. Per 68 Oklahoma Statutes § 68-3201, Oklahoma imposes a transfer tax, called a documentary stamp tax, on nearly all property transferred using a quitclaim deed. Terminologyġ6 Oklahoma Statutes § 16-41 provides that a quitclaim deed may use the following language substantially “do hereby quitclaim, grant, bargain, sell and convey.” Transfer Tax The acknowledgment must be made before a notary public or certain other public officials under seal according to 16 Oklahoma Statutes § 16-35. ![]() Acknowledgmentsġ6 Oklahoma Statutes § 16-26 provides that the grantor’s signature must be acknowledged to record a deed. The grantee does not need to sign the deed. Under 16 Oklahoma Statutes § 16-4, a deed is valid as long as the grantor signs the deed. The legal description should contain the land parcel identifier number if assigned by the County Assessor, Clerk, or Treasurer, as well as the addition, block and lot, section, township, and range, and metes and bounds (property boundaries described by landmarks) if necessary for location. The property’s legal description, which is different from the property’s mailing address, must be included in the deed. The quitclaim deed statute defines a quitclaim deed, 16 Oklahoma Statutes § 16-18. The laws governing transfers of real property in Oklahoma are found in Title 16, Chapter 1 of the Oklahoma Statutes. When recording the deed, you will need to pay a recording fee and a documentary stamp tax, which is a transfer tax. The grantor’s signature must be acknowledged, and the deed must be recorded. Per state law, an Oklahoma quitclaim deed must be in writing, describe the property, and be signed by the grantor. Oklahoma Quitclaim Deed Laws and Requirements How to Write & File a Quitclaim Deed in Oklahoma.Oklahoma Quitclaim Deed Laws and Requirements.A quitclaim deed gives the grantee (the person receiving the property) no right to sue the grantor if someone later shows up with a better claim to the property.įor this reason, quitclaim deeds are usually used in circumstances where the parties know each other already, such as between family members. The grantor makes no legally enforceable promises about having good title to the property. Unlike other deed forms, the quitclaim deed only transfers the interest that the grantor (the party transferring the property) has in the property. An Oklahoma quitclaim deed is the easiest way to transfer real property. ![]()
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