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§ 1255. Grantee interest subject to encumbrances--Non-consensual lien--Lapse of transfer

Oklahoma Statutes AnnotatedTitle 58. Probate Procedure

Oklahoma Statutes Annotated
Title 58. Probate Procedure (Refs & Annos)
Chapter 21. Nontestamentary Transfer of Property Act
58 Okl.St.Ann. § 1255
§ 1255. Grantee interest subject to encumbrances--Non-consensual lien--Lapse of transfer
A. Grantee beneficiaries of a transfer-on-death deed take the interest of the record owner in the real estate at the death of the grantor owner, free and clear of any claims or interest under Section 44 of Title 84 of the Oklahoma Statutes as to a person who became the spouse of the grantor subsequent to the execution of the transfer-on-death deed, subject to all recorded conveyances, assignments, contracts, mortgages, liens and security pledges made by the record owner or to which the record owner was subject during the lifetime of the record owner including, but not limited to, any recorded executory contract of sale, option to purchase, lease, license, easement, mortgage, deed of trust or lien, and to any interest conveyed by the record owner that is less than all of the record owner's interest in the property, provided however, a non-consensual lien against the grantee beneficiary shall not attach to the property until the recording of the affidavit described in Section 1252 of this title.
B. If one or more of the grantee beneficiaries dies prior to the death of the grantor owner, the transfer to those beneficiaries who predecease the grantor owner shall lapse. In the event the grantee beneficiaries are designated in the deed to be joint tenants with right of survivorship, the death of one or more of the grantee beneficiaries prior to the death of the grantor owner shall not invalidate an otherwise validly created joint tenancy estate as to those grantee beneficiaries who are living at the time of the death of the grantor owner.

Credits

Laws 2008, c. 78, § 5, eff. Nov. 1, 2008; Laws 2011, c. 372, § 3, eff. Nov. 1, 2011.
58 Okl. St. Ann. § 1255, OK ST T. 58 § 1255
Current with emergency effective legislation through Chapter 90 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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