An Oklahoma deed of trust transfers legal title of a borrower’s real estate to a trustee until they finish repaying a home loan. In this arrangement, the trustee is able to foreclose on the property if the borrower fails to make payments to the lender. State law allows deed of trust foreclosures to be done without court proceedings.
An Oklahoma deed of trust transfers legal title of a borrower’s real estate to a trustee until they finish repaying a home loan. In this arrangement, the trustee is able to foreclose on the property if the borrower fails to make payments to the lender. State law allows deed of trust foreclosures to be done without court proceedings.
Deeds of trust must be notarized and signed by the grantor (and spouse for homesteads).[1] The document must be formatted as follows and recorded with the County Clerk[2]:
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