Bill > SB877

This bill introduces several key provisions related to real estate licensing and deed theft prevention in Oklahoma. It amends existing law to require real estate licensees to complete continuing education on deed theft, which is defined as intentionally altering, falsifying, forging, or misrepresenting documents related to real property with the intent to deceive or fraudulently transfer ownership. Specifically, the bill mandates that all real estate licensees must complete a specified number of hours of continuing education about deed theft by November 1, 2028. Additionally, the bill requires real estate brokers to provide buyers with a notification about the signs and risks of deed theft during each real estate transaction, with buyers required to sign a document confirming they have received this information. The Oklahoma Real Estate Commission is tasked with creating rules to implement these new requirements and define the specific details of the continuing education and notification processes. The bill defines "deed theft" broadly to include various fraudulent practices aimed at unlawfully transferring or obtaining property ownership, and it will become effective on November 1, 2025.

Business and Industry, Justice

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb877&Session=2600