Bill > SB982

This bill introduces significant restrictions on real property ownership and leasing in Oklahoma for non-U.S. citizens. Specifically, the legislation prohibits any alien or non-U.S. citizen from owning or leasing real property in the state, either directly or through business entities or trusts, with an exception for businesses engaged in regulated interstate commerce. Any deed or lease must now include an affidavit confirming compliance with these requirements, which the Attorney General will develop separate forms for individuals and entities. Leases found to be in violation will not be renewable, and the property rights will revert to the original lessor upon lease expiration. Non-U.S. citizens currently owning real property will have six months from the act's effective date (November 1, 2025) to divest their ownership. If they fail to do so, the Attorney General is authorized to take legal action in district court to enforce the provisions of the act. The bill appears designed to limit foreign ownership of land in Oklahoma, potentially addressing concerns about foreign investment or control of local real estate.

Justice

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb982&Session=2600