An Oklahoma quit claim deed is a legal form in which property rights are transferred with no guarantees or covenants on the part of the transferring party (the grantor). A grantor that transfers property through a quit claim deed will not be liable for liens, legal claims from previous owners, or other defects clouding the property title. The party receiving property (the grantee) is therefore at risk of accepting a defective title and should consider purchasing title insurance prior to the transfer.
Because a quit claim deed lacks title protection, it is most suitable for parties with a pre-established relationship. The document also serves as a quick way to remove a name from the property title or modify misspelled or inaccurate recording information.
- Statutes: § 16-18 & § 16-41
- Formatting: § 19-298(B)
- Signing Requirements (§ 16-4 & § 16-26): Notary Public
- If the property is eligible for a homestead exemption, which is a tax relief for persons who continuously occupy a property, the grantor’s spouse (if any) must sign the deed.
- Where to Record: Register of Deeds
- Recording Fees (§ 28-32(A) & § 28-32(C)): $18 ($8 for the first page + $10 preservation fee); $2 for each additional page.
- Property Disclosure Statement (§ 60-833(2)): Residential property sellers must provide this disclosure to buyers to identify all known material defects affecting their real estate.
- Property Disclaimer Statement (§ 60-833(1)): This disclaimer must be used in place of the Property Disclosure Statement (provided above) if the seller has never lived on the property and is unaware of any material defects.