Okla. Stat. tit. 60, § 60-178.7 — OK Code / Title 60 / Section 60-178.7
Payments in lieu of taxes to be made by lessees of
Status: in_force

certain public trust property.

All public trusts hereafter issuing revenue bonds, notes or

other evidences of indebtedness for industrial development purposes,

including but not limited to rail transportation projects, shall

require the lessee of each industrial project owned by the public

trust, excluding nonprofit health care facilities, to pay an annual

sum in lieu of ad valorem taxes for each year following the tenth

Oklahoma Statutes - Title 60. Property Page 134

anniversary date of the issuance of such revenue bonds, notes or

other evidences of indebtedness. The lease or other agreement

between the public trust and the lessee shall provide that the

amount of the annual in lieu of payments shall be equal to the

amount which such lessee would be obligated to pay were it the title

owner of such industrial project during such annual period according

to the assessment and valuation methods and procedures then provided

by law. Prior to the tenth anniversary date of the issuance of such

revenue bonds, notes or other evidences of indebtedness, the public

trust shall elect, pursuant to a written notice of election filed

with the county assessor and the county treasurer of the county in

which the project property is located, either (a) to cause said

annual in lieu of payments to be paid directly to said county and

collected and distributed by said county treasurer in the manner

then provided by law for ad valorem tax payments, or (b) to cause

said annual in lieu of payments to be paid to said public trust and

distributed as received by it to the local units of government in

the impact area of the project supplying services and facilities to

the industrial project and its employees in the proportions that the

public trust shall determine to be equitable under the

circumstances, with total distribution to all impacted school

districts of not less than the percentage that would have been

received in ad valorem taxes, by the school districts in the county

where the facility is located, if imposed, and with said

distribution based upon enrollment figures provided annually, in

writing, within thirty (30) days after enrollment, to the trust. If

said enrollment figures are not submitted in writing within said

time period, then said school district is permanently barred after

said thirty (30) days from receiving in lieu of payments for that

annual distribution period. The term "industrial project" as used

in this section shall include an expansion of an existing industrial

facility; provided, however, no such arrangement shall operate to

remove any property from the tax rolls except unimproved land then

owned by the lessee to be acquired by the trust or additional

unimproved land to be acquired by the trust to provide such

improvements. The term "lessee" as used in this section shall

include any individual, association, partnership, corporation or

other entity engaged in any trade or business for profit and not

otherwise exempt from ad valorem taxation under the laws of the

state and shall include any purchaser or obligor under an

installment sale agreement or other underlying financing agreement.

The provisions of this section shall not apply to any project

financed, or formally committed to be financed, by any public trust

prior to the effective date hereof. Provided, further, that nothing

contained in this section shall prevent any public trust from

requiring in lieu of payments to be made by a lessee to the trust

for public use, prior to the tenth anniversary date of the issuance

Oklahoma Statutes - Title 60. Property Page 135

of bonds, notes or other evidences of indebtedness hereafter issued

for industrial development purposes.
Okla. Stat. tit. 60, § 60-801 — OK Code / Title 60 / Section 60-801
Short title
Status: in_force

This act shall be known as the Oklahoma Airspace Act.
Okla. Stat. tit. 60, § 60-177 — OK Code / Title 60 / Section 60-177
Reformation of offending instruments
Status: in_force

Such trusts may be created by written instruments or by will. In

the case of written instruments, the same shall be subscribed by the

grantor or grantors and duly acknowledged as conveyances of real

estate are acknowledged, and before the same shall become effective

the beneficial interest therein shall be accepted by the Governor,

if the state is the beneficiary, or by the governing body of any

other beneficiary named therein, which power and authority of

acceptance hereby is conferred upon the Governor and upon the

governing bodies of the counties or municipalities. Provided, every

trust made hereunder, if the state is the beneficiary, shall, prior

to and as a condition precedent to its entry into force, be

submitted to the Attorney General who shall determine whether the

trust is in proper form and compatible with the laws of this state.

The Attorney General shall approve any trusts submitted to him which

he determines to be in proper form and compatible with the laws of

this state. If approved, the said instrument or will, together with

the written acceptance of the beneficial interest and approval of

the Attorney General endorsed thereon, shall be recorded in the

office of the county clerk of each county wherein is situated any

real estate, or any interest therein, belonging to said trust, as

well as in the county wherein is located the trust property or

wherein are conducted its principal operations. In the case of any

trust of which the State of Oklahoma is the beneficiary, a certified

copy of such instrument or will and the instrument of acceptance

shall be filed with the Secretary of State. Upon the acceptance of

the beneficial interest by the beneficiary and approval by the

Attorney General as hereinabove provided, the same shall be and

constitute a binding contract between the State of Oklahoma and the

grantor or grantors, or the executor of the estate of the testator,

for the acceptance of the beneficial interest in the trust property

by the designated beneficiary and the application of the proceeds of

the trust property and its operation for the purposes, and in

accordance with the stipulations of the trust instrument or will.

Such trusts shall have duration for the term of duration of the

beneficiary, or such shorter length of time as shall be specified in

the instrument or will creating said trust.
Okla. Stat. tit. 60, § 60-301.11 — OK Code / Title 60 / Section 60-301.11
Applicability of act
Status: in_force

Subject to Section 14 of this act, the provisions of this act

shall apply to charitable trusts and fiduciary relationships of

charitable organizations in existence at the time this act takes

effect or thereafter established and to resolve the uncertainties

surrounding the administration of charitable trusts by charitable

organizations and the exercise of the fiduciary powers set forth in

this act. Nothing in this act shall govern, control, or restrict

the activities of a charitable organization when acting in a

nonfiduciary capacity on behalf of any third party.
Okla. Stat. tit. 60, § 60-175.15 — OK Code / Title 60 / Section 60-175.15
Trustee owning stock in name of nominee - Exemption
Status: in_force

A trustee owning stock may hold it in the name of a nominee,

without mention of the trust in the stock certificate or stock

registration book; provided that:

A. The trust records and all reports or accounts rendered by

the trustee, clearly show the ownership of the stock by the trustee,

and the facts regarding its holdings;

B. The nominee deposits with the trustee a signed statement

showing the trust ownership, endorses the stock certificate in

Oklahoma Statutes - Title 60. Property Page 55

blank, and does not have possession of the stock certificate or

access thereto except under the immediate supervision of the

trustee. The trustee shall be personally liable for any loss to the

trust resulting from any wrongful or negligent act of such nominee

in connection with stock so held; and

C. The provisions of this section shall not apply to a bank,

trust company or national banking association.
Okla. Stat. tit. 60, § 60-1 — OK Code / Title 60 / Section 60-1
Definition of property
Status: in_force

The ownership of a thing is the right of one or more persons to

possess and use it to the exclusion of others. In this Chapter the

thing of which there may be ownership is called property.
Okla. Stat. tit. 60, § 60-49.21 — OK Code / Title 60 / Section 60-49.21
Enforcement of environmental covenant
Status: in_force

ENFORCEMENT OF ENVIRONMENTAL COVENANT.

A. A civil action for injunctive or other equitable relief for

violation of an environmental covenant may be maintained by:

1. A party to the covenant;

2. The agency or, if it is not the agency, the Department of

Environmental Quality;

3. Any person to whom the covenant expressly grants power to

enforce;

4. A person whose interest in the real property or whose

collateral or liability may be affected by the alleged violation of

the covenant; or

5. A municipality or other unit of local government in which

the real property subject to the covenant is located.

B. The Uniform Environmental Covenants Act does not limit the

regulatory authority of the Department of Environmental Quality or

other agency under law other than the Uniform Environmental

Covenants Act with respect to an environmental response project

including the authority of the Department of Environmental Quality

provided in Sections 2-7-123 and 2-15-107 of Title 27A of the

Oklahoma Statutes.

C. A person is not responsible for or subject to liability for

environmental remediation solely because it has the right to enforce

an environmental covenant.
Okla. Stat. tit. 60, § 60-175.82 — OK Code / Title 60 / Section 60-175.82
Definitions
Status: reserved

As used in the Oklahoma Discretionary and Special Needs Trust

Act:

1. “Beneficial interest” means a distribution interest or a

remainder interest, and excludes a power of appointment or a power

reserved by the settlor;

2. "Beneficiary" means a person who has a present or future

beneficial interest in a trust, vested or contingent. However, the

holder of a power of appointment shall not be considered a

beneficiary;

3. “Child” means any person for whom an order or judgment for

child support has been entered in this state or another state;

4. “Current distribution interest” means a distribution

interest where on the date of qualification the beneficiary is an

eligible distributee or permissible distributee of trust income or

principal;

5. “Discretionary interest” means any interest for which a

trustee has discretion to make or withhold a distribution. A

discretionary interest includes permissive language such as “may

make distributions” or it may include mandatory language that is

inconsistent with the intent of the settlor to create a

discretionary trust, such as “The trustee shall make distributions

in the sole and absolute discretion of the trustee”;

6. “Distribution interest” means a beneficiary’s equitable

interest to enforce the distribution terms of the trust subject to

the judicial review standard. A distribution interest is classified

Oklahoma Statutes - Title 60. Property Page 79

as a mandatory interest, a support interest, a discretionary

interest, or a combination of any such interests. A distribution

interest includes both current distribution interests and future

distribution interests;

7. “Exception creditor” means a child of a beneficiary who has

a judgment or court order against the beneficiary for support;

8. “Future distribution interest” means all distribution

interests other than a current distribution interest;

9. “Mandatory interest” means a distribution interest for which

the trustee has no discretion in determining whether the

distribution shall be made, or the amount or timing of the

distribution;

10. “Power of appointment” means an inter vivos or testamentary

power to direct the disposition of trust property, other than a

distribution decision by a trustee to a beneficiary. Powers of

appointment are held by donees, not the settlor. A power of

appointment includes any right or power granted by statute to any

person other than the settlor;

11. “Remainder interest” means an interest for which a trust

beneficiary will receive the property outright in the future;

12. “Reserved power” means a power held by the settlor;

13. “Special Needs Trust” means a trust created for the partial

or exclusive benefit of a disabled or incapacitated person, in order

to allow the disabled or incapacitated beneficiary to avoid loss of

eligibility for government benefit programs, including, but not

limited to, Medicaid, Supplemental Security Income, Social Security

Disability Income or other state or federal benefit programs; and

14. “Support interest” means any interest which is not a

mandatory interest or a discretionary interest. A support interest

shall include mandatory language such as “shall make distributions”

and be coupled with a standard capable of judicial interpretation,

such as an “ascertainable standard” as defined in Internal Revenue

Code (IRC) Section 2041.
Okla. Stat. tit. 60, § 60-1216 — OK Code / Title 60 / Section 60-1216
Matters in which trust director subject to rules
Status: in_force

applicable to trustee.

Unless the terms of a trust provide otherwise, the rules

applicable to a trustee apply to a trust director regarding the

following matters:

1. Acceptance;

2. Giving of bond to secure performance;

3. Reasonable compensation;

4. Resignation;

5. Removal; and

6. Vacancy and appointment of a successor.
Okla. Stat. tit. 60, § 60-1307 — OK Code / Title 60 / Section 60-1307
Investment trust advisors — Qualifications — Powers
Status: in_force

Any person may serve as an investment trust advisor,

notwithstanding that the person is the transferor of the qualified

disposition, but a transferor may not otherwise serve as a fiduciary

under a trust instrument except as stated in paragraph 2 of

subsection A of Section 21 of this act. While serving as an

investment trust advisor of the trust, the person may have all

powers authorized by statute or by the trust instrument, including

the power to vote by proxy any stock owned by the trust.
Okla. Stat. tit. 60, § 60-808 — OK Code / Title 60 / Section 60-808
Right, title, and interest to pass at death of owner
Status: in_force

The right, title, interest and estate of a decedent in and to

airspace shall pass at his death by testamentary disposition, or in

the event of intestacy, shall pass in the same manner as provided by

the laws of this state for the descent of other real property.
Okla. Stat. tit. 60, § 60-175.717 — OK Code / Title 60 / Section 60-175.717
Exceptions to power of distribution
Status: in_force

EXCEPTIONS TO POWER OF DISTRIBUTION

An authorized trustee shall not exercise a power to distribute

principal of a trust under Section 3 or 4 of this act to:

1. Reduce, limit or modify a beneficiary's current, vested

right to:

a. receive a mandatory distribution of income or

principal,

b. receive a mandatory annuity or unitrust interest,

c. withdraw a percentage of the value of the trust, or

d. withdraw a specified dollar amount from the trust;

2. Materially limit a trustee's fiduciary duty:

a. under the terms of the trust, or

b. in a manner that would be prohibited by the Oklahoma

Trust Act, Section 175.1 et seq. of Title 60 of the

Oklahoma Statutes, the Oklahoma Prudent Investor Act,

Section 175.60 et seq. of Title 60 of the Oklahoma

Statutes, the Oklahoma Principal and Income Act,

Section 175.101 et seq. of Title 60 of the Oklahoma

Statutes or the Oklahoma Charitable Fiduciary Act,

Section 301.1 et seq. of Title 60 of the Oklahoma

Statutes;

3. Decrease or indemnify against a trustee's liability or

exonerate a trustee from liability;

4. Add a provision exonerating a trustee for failure to

exercise reasonable care, diligence and prudence;

5. Eliminate a provision granting another person the right to

remove or replace the authorized trustee exercising the distribution

power under Section 3 or 4 of this act; or

6. Reduce, limit or modify in the second trust a perpetuities

provision included in the first trust, unless expressly permitted by

the terms of the first trust.
Okla. Stat. tit. 60, § 60-1511 — OK Code / Title 60 / Section 60-1511
Servient estate owner rights — Non-waiver
Status: in_force

The right of a servient estate owner to relocate an easement

under this act may not be waived, excluded, or restricted by

agreement even if:

1. The instrument creating the easement prohibits relocation or

contains a waiver, exclusion, or restriction of this act;

2. The instrument creating the easement requires consent of the

easement holder to amend the terms of the easement; or

3. The location of the easement is fixed by the instrument

creating the easement, another agreement, previous conduct,

acquiescence, estoppel, or implication.
Okla. Stat. tit. 60, § 60-820.1 — OK Code / Title 60 / Section 60-820.1
Airspace Severance Restriction Act
Status: in_force

Oklahoma Statutes - Title 60. Property Page 248

A. This act shall be known and may be cited as the “Airspace

Severance Restriction Act”.

B. It is the intent of this act to restrict the permanent

severing of the airspace over any real property located in this

state for the purpose of developing and operating commercial wind or

solar energy conversion systems. Leasing arrangements for

development of wind or solar energy conversion systems may be made

only with the legally authorized owner of the surface estate

pursuant to the provisions and restrictions provided by this act or

otherwise provided by law. The provisions of this act shall not

apply to any property owner utilizing wind or solar energy

conversion systems for domestic use only.

C. For the purposes of this act a “wind or solar energy

agreement” means a lease agreement, whether or not stated in the

form of a restriction, covenant, or condition, in any deed, wind or

solar easement, wind or solar option or lease securing land for the

study or production of wind or solar-generated energy, or any other

instrument executed by or on behalf of any owner of land or airspace

for the purpose of allowing another party to study the potential

for, or to develop, a wind or solar energy conversion system on the

land or in the airspace. A wind or solar energy agreement shall in

no way be deemed to contravene, supersede, amend, modify or alter

the existing powers, requirements, limitations or other provisions

of statutory or common law pertaining to aviation, air

transportation, air commerce or air operations.

D. A wind or solar energy agreement shall run with the land

benefitted and burdened and shall terminate upon the conditions

stated in the wind or solar agreement.

E. An instrument entered into subsequent to July 1, 2010, that

creates a land right or an option to secure a land right in real

property or the vertical space above real property for a solar

energy system, for a wind or solar energy conversion system, or for

wind measurement equipment, shall be created in writing, and the

instrument, or related memorandum of easement, or an abstract, shall

be filed, duly recorded, and indexed in the office of the county

clerk in the county in which the real property subject to the

instrument is located. The instrument, but not the related

memorandum of easement or abstract, shall include but not be limited

to:

1. The names of the parties;

2. A legal description of the real property involved;

3. The nature of the interest created;

4. The consideration paid for the transfer;

5. A description of the improvements the developer intends to

make on the real property, including, but not limited to, roads,

transmission lines, substations, wind turbines and meteorological

towers;

Oklahoma Statutes - Title 60. Property Page 249

6. A description of any decommissioning security as defined in

subsection B of this section, or other requirements related to

decommissioning; and

7. The terms or conditions, if any, under which the interest

may be revised or terminated.

F. No interest in any resource located on a tract of land and

solely associated with the production or potential production of

wind or solar-generated energy on the tract of land may be severed

from the surface estate except that such rights may be leased for a

definite term pursuant to the provisions of this act.

G. The provisions of this act shall not affect any agreements

or contracts entered into pursuant to the provisions of the Oklahoma

Airspace Act, Section 801 et seq. of this title.
Okla. Stat. tit. 60, § 60-156 — OK Code / Title 60 / Section 60-156
Deeds and conveyances - Works not giving notice of
Status: in_force

existence of trust - Recorded written evidence.

A. The appearance of the words "trustee" or "as trustee" or

"agent" following the names of the grantee in any deed of conveyance

of land or other property, or an interest therein, heretofore or

hereafter executed, without other language showing a trust, shall

not be deemed to give notice to or put on inquiry any person dealing

with said property that a trust exists, or that there are other

beneficiaries of said conveyance except the grantee named therein,

and such conveyance shall vest the title to such property in such

grantee and a conveyance by such grantee, whether followed by the

words "trustee" or "as trustee" or "agent" or not, shall vest title

in his grantee free from any claims of all persons or corporations.

B. Subsection A of this section shall not apply if other

written evidence is recorded, whether before or after the grantor's

death, which establishes that an express trust does exist with

respect to property which the grantor has conveyed by deed to his

grantee followed by the words "trustee" or "as trustee" provided

such other written evidence is recorded prior to conveyance of such

property by such grantee.
Okla. Stat. tit. 60, § 60-508 — OK Code / Title 60 / Section 60-508
Strict compliance with rules and bylaws by unit owners
Status: in_force

Each unit owner shall comply strictly with the bylaws and with

the administrative rules and regulations adopted pursuant thereto,

Oklahoma Statutes - Title 60. Property Page 185

as either of the same may be lawfully amended from time to time, and

with the covenants, conditions and restrictions set forth in the

declaration or in the deed to his unit. Failure to comply with any

of the same shall be grounds for an action to recover sums due, for

damages or injunctive relief or both, maintainable by the manager or

board of managers on behalf of the council of unit owners or, in a

proper case, by an aggrieved unit owner.
Okla. Stat. tit. 60, § 60-24 — OK Code / Title 60 / Section 60-24
Estates tail abolished
Status: in_force

Estates tail are abolished; and every estate which would be at

common law adjudged to be a fee tail is a fee simple, and if no

valid remainder is limited thereon, is a fee simple absolute.
Okla. Stat. tit. 60, § 60-301.1 — OK Code / Title 60 / Section 60-301.1
Short title
Status: in_force

This act shall be known and may be cited as the "Oklahoma

Charitable Fiduciary Act".
Okla. Stat. tit. 60, § 60-57 — OK Code / Title 60 / Section 60-57
Action to enforce easement
Status: in_force

The owner of any estate in a dominant tenement, or the occupant

of such tenement, may maintain an action for the enforcement of an

easement attached thereto. R.L. 1910 Sec. 6631.
Okla. Stat. tit. 60, § 60-381 — OK Code / Title 60 / Section 60-381
Capacity to take property by gift
Status: in_force

The legal capacity of the State of Oklahoma, and of each county,

city, town and school district in the state, to take title or any

interest therein including, but not limited to, right-of-way or

right-of-way easements in the case of a county, legal, equitable, or

both, to any property, real, personal or mixed, by gift,

testamentary or otherwise, as well as by purchase, is hereby

specifically approved and affirmed.
Okla. Stat. tit. 60, § 60-59.1 — OK Code / Title 60 / Section 60-59.1
Abstracting easement with mortgage or bond indenture -
Status: in_force

Restrictions.

If a mortgage or bond indenture describes or makes reference to

a recorded easement, the abstractor shall identify the mortgage or

Oklahoma Statutes - Title 60. Property Page 33

bond indenture in the abstract of title, state that the land

described in the abstract of title is subject to the mortgage or

bond indenture, and give the date of the mortgage or bond indenture,

the book and page of its recording and the book and page of the

recording of the easement described in said mortgage. The

abstractor shall not otherwise summarize, abstract or copy the

mortgage or bond indenture in full unless authorized in writing by

the owner, purchaser or lessee of the land.
Okla. Stat. tit. 60, § 60-813 — OK Code / Title 60 / Section 60-813
Governmental authority holding only easements for use as
Status: in_force

rights-of-way.

In situations in which a governmental authority or agency holds

only an easement for use as a right-of-way over land on which is

constructed a highway, street, road, alley or bridge:

1. The governmental authority or agency shall possess for and

on behalf of the public the right to use such easement for highway,

Oklahoma Statutes - Title 60. Property Page 247

street, road, alley or bridge purposes with full, free and

unobstructed passage over such improvement as well as the right to

construct, maintain, repair, alter and remove such improvement,

subject to all other laws pertaining thereto; and

2. In addition thereto, the governmental authority and agency

shall possess for and on behalf of the public the right to make full

use of the airspace over, under or upon said right-of-way, provided

that the residual right, title, interest and estate of the owner or

owners of the fee in and to the land on which said improvement

exists shall not in any way be encumbered, limited or additionally

burdened without just compensation being paid to such owner or

owners and with the determination of such just compensation to be

made in the manner provided by law for additional takings under the

power of eminent domain.
Okla. Stat. tit. 60, § 60-1004 — OK Code / Title 60 / Section 60-1004
Tract of land in more than one coordinate zone
Status: in_force

When any tract of land to be defined by a single description

extends from one coordinate zone into other zones, the positions of

all points on its boundaries shall be referred to one of the zones,

the zone which is used being specifically named in the description.
Okla. Stat. tit. 60, § 60-865 — OK Code / Title 60 / Section 60-865
Group home not to include
Status: in_force

As used in the Community Residential Living for Persons with

Developmental or Physical Disabilities Act, a group home does not

include any of the following:

1. A hospital or home for persons with mental illness;

2. An establishment commonly described as an alcohol or

substance abuse rehabilitation center; or

3. A residential facility for persons released from or assigned

to correctional institutions.
Okla. Stat. tit. 60, § 60-49.15 — OK Code / Title 60 / Section 60-49.15
Validity - Effective on other instruments
Status: in_force

VALIDITY; EFFECT ON OTHER INSTRUMENTS.

A. An environmental covenant that complies with the Uniform

Environmental Covenants Act runs with the land.

B. An environmental covenant that is otherwise effective is

valid and enforceable even if:

1. It is not appurtenant to an interest in real property;

2. It can be or has been assigned to a person other than the

original holder;

3. It is not of a character that has been recognized

traditionally at common law;

4. It imposes a negative burden;

5. It imposes an affirmative obligation on a person having an

interest in real property or on the holder;

6. The benefit or burden does not touch or concern real

property;

7. There is no privity of estate or contract;

8. The holder dies, ceases to exist, resigns, or is replaced;

or

9. The owner of an interest subject to the environmental

covenant and the holder are the same person.

C. An instrument that creates restrictions or obligations with

respect to real property that would qualify as activity and use

limitations except for the fact that the instrument was recorded

before January 1, 2007, is not invalid or unenforceable because of

any of the limitations on enforcement of interests described in

subsection B of this section or because it was identified as an

easement, servitude, deed restriction, or other interest. The

Uniform Environmental Covenants Act does not apply in any other

respect to such an instrument.

D. The Uniform Environmental Covenants Act does not invalidate

or render unenforceable any interest, whether designated as an

environmental covenant or other interest, that is otherwise

enforceable under the law of this state.
Okla. Stat. tit. 60, § 60-1316 — OK Code / Title 60 / Section 60-1316
Multiple qualified dispositions by same trust instrument
Status: in_force

If more than one qualified disposition is made by means of the

same trust instrument:

1. The making of a subsequent qualified disposition shall be

disregarded in determining whether a creditor's claim with respect

to a prior qualified disposition is extinguished as provided in

Section 30 of this act; and

2. Any distribution to a beneficiary is deemed to have been

made from the latest such qualified disposition.
Okla. Stat. tit. 60, § 60-175.602 — OK Code / Title 60 / Section 60-175.602
Application of act to existing trusts and estates
Status: in_force

APPLICATION OF ACT TO EXISTING TRUSTS AND ESTATES

This act applies to every trust or decedent's estate existing on

the effective date of this act except as otherwise expressly

provided in the will or terms of the trust or in this act.
Okla. Stat. tit. 60, § 60-1509 — OK Code / Title 60 / Section 60-1509
Construction of improvement as condition — Affidavit
Status: in_force

requirement.

A. If an order under Section 6 of this act requires the

construction of an improvement as a condition for relocation of an

easement, relocation is substantially complete, and the easement

holder is able to enter, use, and enjoy the easement in the new

location, the servient estate owner shall:

1. Record, in the land records of each jurisdiction where the

servient estate is located, an affidavit certifying that the

easement has been relocated; and

2. Send, by certified mail, a copy of the recorded affidavit to

the easement holder and parties to the civil action.

B. Until an affidavit under subsection A of this section is

recorded and sent, the easement holder may enter, use, and enjoy the

easement in the current location, subject to the court's order under

Section 6 of this act approving relocation.

C. If an order under Section 6 of this act does not require an

improvement to be constructed as a condition of the relocation,

recording the order under subsection D of Section 6 of this act

constitutes relocation.
Okla. Stat. tit. 60, § 60-759 — OK Code / Title 60 / Section 60-759
Interests not fixed or finally ascertained - Right to
Status: in_force

disclaim.

Any interest which exists on the effective date of this act but

which has not then become indefeasibly fixed both in quality and

quantity, or the taker of which has not then become finally

ascertained, may be thereafter disclaimed in the manner provided

herein.
Okla. Stat. tit. 60, § 60-756 — OK Code / Title 60 / Section 60-756
Uniform Fraudulent Conveyances Act not abrogated - Bar on
Status: in_force

right to disclaim in certain cases.

Nothing included in this act shall be deemed to amend, repeal or

abrogate in any manner Title 24 O. S. 1971, Sections 101 through

111, inclusive. Any voluntary assignment or transfer of, or

contract to assign or transfer, an interest in real or personal

property, or written waiver of the right to disclaim the succession

to an interest in real or personal property, by any beneficiary, or

any sale or other disposition of an interest in real or personal

property pursuant to judicial process, made before he has

disclaimed, as herein provided, bars the right otherwise hereby

conferred on such beneficiary to disclaim as to such interest.
Okla. Stat. tit. 60, § 60-175.705 — OK Code / Title 60 / Section 60-175.705
Trust for beneficiary with disability
Status: in_force

TRUST FOR BENEFICIARY WITH DISABILITY

A. As used in this act:

1. "Beneficiary with a disability" means a beneficiary of a

first trust who the special-needs fiduciary believes may qualify for

governmental benefits based on disability, whether or not the

beneficiary currently receives those benefits or is an individual

who has been adjudicated incompetent;

2. "Governmental benefits" means financial aid or services from

a state, federal or other public agency;

3. "Special-needs fiduciary" means, with respect to a trust

that has a beneficiary with a disability:

Oklahoma Statutes - Title 60. Property Page 110

a. a trustee or other fiduciary, other than a settlor,

that has discretion to distribute part or all of the

principal of a first trust to one or more current

beneficiaries,

b. if no trustee or fiduciary has discretion under

subparagraph a of this section, a trustee or other

fiduciary, other than a settlor, that has discretion

to distribute part or all of the income of the first

trust to one or more current beneficiaries, or

c. if no trustee or fiduciary has discretion under

subparagraphs a and b of this section, a trustee or

other fiduciary, other than a settlor, that is

required to distribute part or all of the income or

principal of the first trust to one or more current

beneficiaries; and

4. "Special-needs trust" means a trust the trustee believes

would not be considered a resource for purposes of determining

whether a beneficiary with a disability is eligible for governmental

benefits.

B. A special-needs fiduciary may exercise the decanting power

under Section 3 of this act over the principal of a first trust as

if the fiduciary had authority to distribute principal to a

beneficiary with a disability subject to expanded distributive

discretion if:

1. A second trust is a special-needs trust that benefits the

beneficiary with a disability; and

2. The special-needs fiduciary determines that exercise of the

decanting power will further the purposes of the first trust.

C. In an exercise of the decanting power under this section,

the following rules apply:

1. Notwithstanding Section 3 of this act, the interest in the

second trust of a beneficiary with a disability may:

a. be a pooled trust as defined by Medicaid law for the

benefit of the beneficiary with a disability under 42

U.S.C., Section 1396p(d)(4)(C), as amended, or

b. contain payback provisions complying with

reimbursement requirements of Medicaid law under 42

U.S.C., Section 1396p(d)(4)(A), as amended; and

2. Except as affected by any change to the interests of the

beneficiary with a disability, the second trust, or if there are two

or more second trusts, the second trusts in the aggregate, shall

comply with Section 3 or 4 of this act with respect to the interest

or interests of each other current beneficiary, presumptive

remainder beneficiary or successor beneficiary.
Okla. Stat. tit. 60, § 60-175.6b — OK Code / Title 60 / Section 60-175.6b
Time limit for challenges to validity of prior
Status: in_force

conveyances.

Any conveyance made and filed of record prior to the effective

date of this act placing real property or any interest therein in a

trust naming the trust itself as the grantee shall be valid for all

Oklahoma Statutes - Title 60. Property Page 52

purposes unless any person claiming adversely to such trust or to

its successors shall file an affidavit setting forth the basis of

such in the office of the county clerk of the county or counties

wherein said property is located within one (1) year from the

effective date of this act.
Okla. Stat. tit. 60, § 60-300.12 — OK Code / Title 60 / Section 60-300.12
Definitions
Status: in_force

DEFINITIONS. In the Uniform Prudent Management of Institutional

Funds Act:

(1) “Charitable purpose” means the relief of poverty, the

advancement of education or religion, the promotion of health, the

promotion of a governmental purpose, or any other purpose the

achievement of which is beneficial to the community.

(2) “Endowment fund” means an institutional fund or part

thereof that, under the terms of a gift instrument, is not wholly

expendable by the institution on a current basis. The term does not

include assets that an institution designates as an endowment fund

for its own use.

(3) “Gift instrument” means a record or records, including an

institutional solicitation, under which property is granted to,

transferred to, or held by an institution as an institutional fund.

(4) “Institution” means:

(A) a person, other than an individual, organized and

operated exclusively for charitable purposes;

(B) a government or governmental subdivision, agency, or

instrumentality, to the extent that it holds funds

exclusively for a charitable purpose; or

(C) a trust that has both charitable and noncharitable

interests, after all noncharitable interests have

terminated.

(5) “Institutional fund” means a fund held by an institution

exclusively for charitable purposes. The term does not include:

(A) program-related assets;

(B) a fund held for an institution by a trustee that is

not an institution; or

(C) a fund in which a beneficiary that is not an

institution has an interest, other than an interest

that could arise upon violation or failure of the

purposes of the fund.

(6) “Person” means an individual, corporation, business trust,

estate, trust, partnership, limited liability company, association,

joint venture, public corporation, government or governmental

subdivision, agency, or instrumentality, or any other legal or

commercial entity.

(7) “Program-related asset” means an asset held by an

institution primarily to accomplish a charitable purpose of the

institution and not primarily for investment.

Oklahoma Statutes - Title 60. Property Page 148

(8) “Record” means information that is inscribed on a tangible

medium or that is stored in an electronic or other medium and is

retrievable in perceivable form.
Okla. Stat. tit. 60, § 60-754 — OK Code / Title 60 / Section 60-754
Place of filing disclaimer - Delivery of copies - Interest
Status: in_force

in real estate.

The disclaimer defined in Section 751 of this title shall be

effective upon being filed on the miscellaneous docket in the office

of the county clerk of any county of the State of Oklahoma in which

the district court would have jurisdiction and venue of the matter.

A copy of the disclaimer shall be delivered or mailed to the trustee

of any trust in which the interest disclaimed exists or to any other

person who has legal title to, or possession of, the property in

which the interest disclaimed exists, and no such trustee or person

shall be liable for any otherwise proper distribution or other

disposition made without actual notice of the disclaimer. If an

interest in or relating to real estate is disclaimed, the original

of the disclaimer, or a copy of the disclaimer certified as true and

complete by the custodian wherein the disclaimer has been filed,

shall also be filed with the county clerk in the county or counties

where the real estate is situated and shall constitute notice to all

persons only from and after the time of the filing.
Okla. Stat. tit. 60, § 60-299.9 — OK Code / Title 60 / Section 60-299.9
Donee authorized to appoint himself - Creditors - Claims
Status: in_force

- Fraudulent conveyances.

When a donee is authorized to appoint to himself all or part of

the property covered by any power of appointment, a creditor of the

donee may subject to his claim all property which the donee could

then appoint to himself only to the extent that other property

available for the payment of his claim is insufficient for such

payment. When a donee has exercised such a general power by deed,

the law relating to fraudulent conveyances shall apply as if the

property transferred to the appointee had been owned by the donee.

When a donee has exercised such a power by will in favor of either a

taker without value or a creditor, a creditor of the donee or of his

estate may subject such property to the payment of his claim only to

the extent that other property available for the payment of the

claim is insufficient for such payment.
Okla. Stat. tit. 60, § 60-175.66 — OK Code / Title 60 / Section 60-175.66
Impartiality
Status: in_force

Impartiality.

If a trust has two or more beneficiaries, the trustee shall act

impartially in investing and managing the trust assets, taking into

account any differing interests of the beneficiaries.
Okla. Stat. tit. 60, § 60-180.2 — OK Code / Title 60 / Section 60-180.2
Filing of copies of audit or agreed-upon-procedures
Status: in_force

report - Failure to file – Filing of copy of instrument or will

creating public trust.

(a) The audits herein required shall include the opinion of a

certified public accountant or a licensed public accountant

notwithstanding any lesser requirement by any instrument under which

the trust may have covenanted for an audit to be made or furnished.

One copy of the annual audit or agreed-upon-procedures report shall

be filed with the State Auditor and Inspector, and, in the case of a

trust wherein the state is the beneficiary, one copy with the

Governor of the State of Oklahoma and one copy with each beneficiary

of the trust, not later than six (6) months following the close of

each fiscal year of the trust.

Oklahoma Statutes - Title 60. Property Page 140

(b) Within thirty (30) days after the effective date hereof,

each trust mentioned in Section 180.1 of this title shall certify to

the State Auditor and Inspector the date of the close of its fiscal

year.

(c) In the event that copy of such audit or agreed-upon-

procedures report as herein required shall not be filed with the

State Auditor and Inspector within the time herein provided, the

State Auditor and Inspector hereby is authorized to employ, at the

cost and expense of the trust, a certified public accountant or

licensed public accountant to make the audit or perform the agreed-

upon-procedures report herein required.

(d) Prior to the delivery of and payment for any bonds, notes

or other evidences of indebtedness by a public trust, there shall be

filed with the Secretary of State an executed original or certified

copy of the written instrument or will creating such public trust

and a notice of said filing with the Secretary of State shall be

delivered to the State Auditor and Inspector and, in the case of a

trust wherein the state is the beneficiary, to the Attorney General.Oklahoma Statutes - Title 60. Property Page 6
Okla. Stat. tit. 60, § 60-56 — OK Code / Title 60 / Section 60-56
Rights of owner of future estate
Status: in_force

The owner of a future estate in a dominant tenement, may use

easements attached thereto, for the purpose of viewing waste,

demanding rent, or removing an obstruction to the enjoyment of such

easements, although such tenement if occupied by a tenant. R.L.

1910 Sec. 6630.
Okla. Stat. tit. 60, § 60-175.37 — OK Code / Title 60 / Section 60-175.37
Death of trustee - Appointment of successor
Status: in_force

Upon the death of a sole or surviving trustee of an express

trust and in the absence of the trust providing for a practical

method of appointment, the power to appoint a trustee shall vest in

the court having jurisdiction thereof, and on petition of any person

interested such court shall appoint a successor in whom the trust

shall vest.
Okla. Stat. tit. 60, § 60-758 — OK Code / Title 60 / Section 60-758
Other rights not abridged
Status: in_force

This act shall not abridge the right of any person, apart from

this act, under any existing or future statute or rule of law, to

disclaim any interest or to assign, convey, release, renounce or

otherwise dispose of any interest.
Okla. Stat. tit. 60, § 60-174 — OK Code / Title 60 / Section 60-174
Liability of trustees and beneficiaries
Status: in_force

Liability to third persons for any act, omission, or obligation

of a trustee or trustees of an express trust when acting in such

capacity, shall extend to the whole of the trust estate held by such

trustee or trustees, or so much thereof as may be necessary to

discharge such liability, but no personal liability shall attach to

the trustee or the beneficiaries of such trust for any such act,

omission or liability.
Okla. Stat. tit. 60, § 60-1001 — OK Code / Title 60 / Section 60-1001
Adoption and description of official system of
Status: in_force

coordinates.

A. The systems of plane coordinates which have been established

by the National Oceanic and Atmospheric Administration/National

Geodetic Survey, formerly the National Ocean Service/National

Geodetic Survey, formerly the United States Coast and Geodetic

Survey, or its successors for defining and stating the geographic

positions or locations of points on the surface of the earth within

the State of Oklahoma are hereafter to be known and designated as

the Oklahoma Coordinate System of 1927, the Oklahoma Coordinate

System of 1983, and the Oklahoma Plane Coordinate System (OKPCS).

For the purpose of the use of the Oklahoma Coordinate System of

1927 and the Oklahoma Coordinate System of 1983, the state is

divided into a North Zone and a South Zone.

B. 1. The area now included in the following counties shall

constitute the North Zone: Adair, Alfalfa, Beaver, Blaine,

Canadian, Cherokee, Cimarron, Craig, Creek, Custer, Delaware, Dewey,

Ellis, Garfield, Grant, Harper, Kay, Kingfisher, Lincoln, Logan,

Major, Mayes, Muskogee, Noble, Nowata, Okfuskee, Oklahoma, Okmulgee,

Osage, Ottawa, Pawnee, Payne, Roger Mills, Rogers, Sequoyah, Texas,

Tulsa, Wagoner, Washington, Woods and Woodward.

2. The area now included in the following counties shall

constitute the South Zone: Atoka, Beckham, Bryan, Caddo, Carter,

Choctaw, Cleveland, Coal, Comanche, Cotton, Garvin, Grady, Greer,

Harmon, Haskell, Hughes, Jackson, Jefferson, Johnston, Kiowa,

Latimer, Leflore, Love, McClain, McCurtain, McIntosh, Marshall,

Murray, Pittsburg, Pontotoc, Pottawatomie, Pushmataha, Seminole,

Stephens, Tillman and Washita.

3. For the purpose of the use of the Oklahoma Plane Coordinate

System (OKPCS), the most recent system of plane coordinate and zone

designation that has been established by the National Geodetic

Survey (NGS), or a successor, that is based on the North American

Terrestrial Reference Frame of 2022 (NATRF2022), or a successor, and

the National Spatial Reference System (NSRS), or a successor, and

known as the State Plane Coordinate System (SPCS), or a successor,

for defining and stating the geographic positions or location of

points within the state shall be known as the "Oklahoma Plane

Coordinate System" (OKPCS).

Oklahoma Statutes - Title 60. Property Page 264

C. 1. As established for use in the North Zone, the Oklahoma

Coordinate System of 1927 or the Oklahoma Coordinate System of 1983

shall be named; and in any land description in which it is used, it

shall be designated the "Oklahoma Coordinate System of 1927 North

Zone" or the "Oklahoma Coordinate System of 1983 North Zone".

2. As established for use in the South Zone, the Oklahoma

Coordinate System of 1927 or the Oklahoma Coordinate System of 1983

shall be named; and in any land description in which it is used, it

shall be designated the "Oklahoma Coordinate System of 1927 South

Zone" or the "Oklahoma Coordinate System of 1983 South Zone".

3. As established for use, the Oklahoma Plane Coordinate System

(OKPCS) shall be named, and in any land description in which it is

used, it shall be designated the "Oklahoma Plane Coordinate System"

(OKPCS).
Okla. Stat. tit. 60, § 60-1007 — OK Code / Title 60 / Section 60-1007
Conversion of feet to meters
Status: in_force

A. For the Oklahoma Coordinate System of 1927 and the Oklahoma

Coordinate System of 1983, the unit used to convert feet to meters

shall be the United States survey foot 39.37/12 feet for each meter

and defined as the U.S. survey foot.

B. For the Oklahoma Plane Coordinate System (OKPCS), the

international conversion value (1 International foot equals 0.3048

meters exactly) shall be used and defined as a foot.
Okla. Stat. tit. 60, § 60-49.14 — OK Code / Title 60 / Section 60-49.14
Contents of environmental covenant
Status: in_force

CONTENTS OF ENVIRONMENTAL COVENANT.

A. An environmental covenant must:

1. State that the instrument is an environmental covenant

executed pursuant to the Uniform Environmental Covenants Act;

2. Contain a legally sufficient description of the real

property subject to the covenant;

3. Describe the activity and use limitations on the real

property;

4. Identify every holder;

5. Be signed by the agency, every holder, and every owner of

the fee simple of the real property subject to the covenant; and

6. Identify the name and location of any administrative record

for the environmental response project reflected in the

environmental covenant.

B. In addition to the information required by subsection A of

this section, an environmental covenant may contain other

information, restrictions, and requirements agreed to by the persons

who signed it, including any:

1. Requirements for notice following transfer of a specified

interest in, or concerning proposed changes in use of, applications

for building permits for, or proposals for any site work affecting

the contamination on, the property subject to the covenant;

2. Requirements for periodic reporting describing compliance

with the covenant;

3. Rights of access to the property granted in connection with

implementation or enforcement of the covenant;

4. Brief narrative description of the contamination and remedy,

including the contaminants of concern, the pathways of exposure,

Oklahoma Statutes - Title 60. Property Page 27

limits on exposure, and the location and extent of the

contamination;

5. Limitation on amendment or termination of the covenant in

addition to those contained in Sections 9 and 10 of this act; and

6. Rights of the holder in addition to its right to enforce the

covenant pursuant to Section 11 of this act.

C. In addition to other conditions for its approval of an

environmental covenant, the agency may require those persons

specified by the agency who have interests in the real property to

sign the covenant.
Okla. Stat. tit. 60, § 60-180.3 — OK Code / Title 60 / Section 60-180.3
Expense of audits and agreed-upon-procedures
Status: in_force

engagements.

The necessary expense of the audits and agreed-upon-procedures

engagements, including the cost of typing, printing, and binding,

shall be paid from funds of the trust.
Okla. Stat. tit. 60, § 60-802 — OK Code / Title 60 / Section 60-802
Airspace defined - Provisions pertaining to aviation not
Status: in_force

affected.

For purposes of this act, airspace is defined as that space

which extends from the surface of the earth upward and which is

either occupied or subject to being occupied for the reasonable

enjoyment and use of the land surface and any structures thereon by

the surface owner or owners, his or their heirs, successors or

assigns. The airspace owned by a surface owner or owners is that

which lies within the vertical upward extension of his or their

surface boundaries. Airspace as defined herein shall in no way be

deemed to contravene, supersede, amend, modify or alter the existing

powers, requirements, limitations or other provisions of statutory

or common law pertaining to aviation, air transportation, air

commerce, or air operations.

Oklahoma Statutes - Title 60. Property Page 243
Okla. Stat. tit. 60, § 60-1207 — OK Code / Title 60 / Section 60-1207
Power of direction — Situations in which trust director
Status: in_force

subject to rules as trustee.

A trust director is subject to the same rules as a trustee in a

like position and under similar circumstances in the exercise or

nonexercise of a power of direction or further power under paragraph

1 of subsection B of Section 7 of this act regarding:

1. A payback provision in the terms of a trust necessary to

comply with the reimbursement requirements of Medicaid law in

Oklahoma Statutes - Title 60. Property Page 271

Section 1917 of the Social Security Act, 42 U.S.C., Section

1396p(d)(4)(A), as amended, and regulations issued thereunder, as

amended; and

2. A charitable interest in the trust, including providing

notice regarding the interest to the Attorney General.
Okla. Stat. tit. 60, § 60-301.7 — OK Code / Title 60 / Section 60-301.7
Powers of charitable organizations acting as trustees of
Status: in_force

charitable trusts - Common charitable trust funds investments -

Reporting - Recovery of costs - Accounting to court.

A. Definitions. For purposes of this section:

1. "Common charitable trust fund" means a fund composed of

assets from two or more charitable trusts and other charitable

assets which are pooled for investment;

2. "Other charitable assets" means assets owned by an

affiliated charitable organization or assets contributed to the

charitable organization administering the common charitable trust

fund in exchange for the issuance of charitable gift annuity

contracts; and

3. "Affiliated charitable organization" means another

charitable organization which directly or indirectly controls or is

under direct or indirect common control with the charitable

organization administering a common charitable trust fund.

B. Powers. Any charitable organization acting as a trustee of

charitable trusts in this state may:

1. Establish one or more common charitable trust funds for the

exclusive purpose of furnishing investments to itself as fiduciary,

to itself and others as cofiduciaries, or to affiliated charitable

organizations;

2. Invest funds which it holds for investment in such common

charitable trust funds, unless:

a. the investment is prohibited by the instrument,

judgment, decree, or order creating the fiduciary

relationship,

Oklahoma Statutes - Title 60. Property Page 159

b. consent to investment in the common charitable trust

fund is intentionally withheld in writing by a

cofiduciary, or

c. a cofiduciary that is not a charitable organization

has the right to direct the management of the common

charitable trust fund; and

3. Employ and delegate to investment advisors, investment

counselors, state banks in Oklahoma having trust powers, national

banking associations having trust powers, and trust companies having

trust powers the discretion to make specific investment decisions

provided that the charitable organization shall at all times

maintain ultimate control of the management of the common charitable

trust fund.

C. Common charitable trust fund investments.

1. A charitable organization administering a common charitable

trust fund shall not commingle its administrative and operating

funds with its common charitable trust funds but may place its

endowment and funds its governing board has designated as endowment

in its common charitable trust funds.

2. Each charitable trust and each other charitable asset shall

be deemed to own a proportionate share of each asset of the common

charitable trust fund.

3. In determining whether the investment in the common

charitable trust fund by the charitable trust is a proper investment

for assets held by a fiduciary, the charitable organization acting

as fiduciary may consider the common charitable trust fund as a

whole and shall not be prohibited from making the investment if any

one or more of the assets of the common charitable trust fund are

nonincome producing or might not otherwise be considered proper

investments for a fiduciary account.

4. The charitable organization administering a common

charitable trust fund may limit investments in its common charitable

trust funds to investments which are compatible with or further the

charitable, religious, educational, or other eleemosynary purposes

of the charitable organization administering the common charitable

trust fund.

5. The charitable organization administering a common

charitable trust fund consisting solely of assets held in an

endowment fund, as that term is defined in the Uniform Prudent

Management of Institutional Funds Act, may invest such assets in

loans upon adequate collateral security to an affiliated charitable

organization provided that the charitable organization administering

the common charitable trust fund conforms to the standard for care

set forth in the documents creating the trusts or, in the absence ofOklahoma Statutes - Title 60. Property Page 7ment fund, as that term is defined in the Uniform Prudent

Management of Institutional Funds Act, may invest such assets in

loans upon adequate collateral security to an affiliated charitable

organization provided that the charitable organization administering

the common charitable trust fund conforms to the standard for care

set forth in the documents creating the trusts or, in the absence of

a standard of care in the documents creating the trusts, to the

standard of care for fiduciaries as set forth in the Oklahoma Trust

Code, the Uniform Prudent Management of Institutional Funds Act, and

Oklahoma Statutes - Title 60. Property Page 160

the Oklahoma Uniform Prudent Investor Act, and provided further that

the loan furthers the charitable, religious, educational and other

eleemosynary purposes of the affiliated charitable organization.

6. In selecting investments and when making investment

decisions pursuant to this subsection, the charitable organization

shall be bound by the provisions of the Oklahoma Charitable

Fiduciary Act, the Oklahoma Trust Act, the Uniform Prudent

Management of Institutional Funds Act, and the Oklahoma Uniform

Prudent Investor Act, unless otherwise provided by law.

7. Nothing in this subsection shall diminish the standard of

care of a fiduciary of charitable trust funds or institutional

endowment funds.

D. Reporting.

1. The charitable organization administering a common

charitable trust fund shall keep records which shall at all times

show all necessary and proper matters related to the administration

of the common charitable trust fund to include the proportionate

interest in the common charitable trust fund of each trust or

investment account of an affiliated charitable organization.

2. Within one hundred twenty (120) days following the end of

the common charitable trust fund's fiscal year, the charitable

organization administering a common charitable trust fund shall make

a report of the condition of the common charitable trust fund. This

report shall include, as of the date of the report, a list of the

investments comprising the common charitable trust fund and the

value placed on each investment on such list by the charitable

organization. The report shall also include a statement of income

and disbursements since the last report and appropriate comments as

to any investment in default as to payment of principal or interest.

The reasonable expenses of preparing the report may be charged to

the common charitable trust fund.

3. The charitable organization shall send a copy of the latest

report required by this subsection annually to each person to whom a

regular periodic accounting of the trusts or other charitable assets

participating in the common charitable trust fund ordinarily would

be rendered, or shall advise each such person annually that the

report is available and that a copy will be furnished without charge

upon request.

E. Recovery of costs. The charitable organization

administering a common charitable trust fund may recover its costs

of administration of the common charitable trust fund to include a

reasonable charge for administrative overhead and the fees and costs

of investment advisors, counselors and agents.

F. Accounting to court. Unless ordered by a court of competent

jurisdiction, the charitable organization administering common

charitable trust funds is not required to render an accounting to

the court with regard to such funds. The charitable organization

Oklahoma Statutes - Title 60. Property Page 161

administering a common charitable trust fund may, by application to

the district court, secure approval of such an accounting after such

notice, and on such conditions as the court may establish.
Okla. Stat. tit. 60, § 60-54 — OK Code / Title 60 / Section 60-54
Extent of servitude
Status: in_force

The extent of a servitude is determined by the terms of the

grant, or the nature of the enjoyment by which it was acquired.

R.L. 1910 Sec. 6628.

Oklahoma Statutes - Title 60. Property Page 32
Okla. Stat. tit. 60, § 60-299.8 — OK Code / Title 60 / Section 60-299.8
Appointment of all the property to one or more of the
Status: in_force

objects to the exclusion of the others.

Unless a contrary intent is manifested in the instrument

creating the power, the donee may appoint all of the property to one

or more of the objects to the exclusion of the others. A direction

to appoint "to", "among" or "between" two or more objects shall not

be a sufficient manifestation of a contrary intent. However, when

the donee is prevented from excluding any object by the instrument

creating the power, each object shall receive an equal share, unless

the instrument creating the power manifests an intent that some

other division may be made.

Oklahoma Statutes - Title 60. Property Page 145
Okla. Stat. tit. 60, § 60-864 — OK Code / Title 60 / Section 60-864
Restrictions, conditions, exceptions or covenants in deeds
Status: in_force

not to prohibit use as group home.

Any restriction, reservation, condition, exception, or covenant

in any subdivision plan, deed, plat, or other instrument of or

pertaining to the transfer, sale, lease, or use of property shall

not specifically prohibit the residential use of such property by a

group home, provided the provisions of this section shall not

otherwise prohibit any restriction, reservation, condition,

exception or covenant in any such instrument effecting the

occupancy, structure and use of such property.
Okla. Stat. tit. 60, § 60-1510 — OK Code / Title 60 / Section 60-1510
Easement relocation limitations
Status: in_force

A. Relocation of an easement under this act:

1. Is not a new transfer or a new grant of an interest in the

servient estate or the dominant estate;

2. Is not a breach or default of, and does not trigger, a due-

on-sale clause or other transfer-restriction clause under a security

instrument, except as otherwise determined by a court under law

other than this act;

3. Is not a breach or default of a lease, except as otherwise

determined by a court under law other than this act;

4. Is not a breach or default by the servient estate owner of a

recorded document affected by the relocation, except as otherwise

determined by a court under law other than this act;

5. Does not affect the priority of the easement with respect to

other recorded real-property interests burdening the area of the

servient estate where the easement was located before the

relocation; and

6. Is not a fraudulent conveyance or voidable transaction under

law.

B. This act does not affect any other method of relocating an

easement permitted under law of this state other than this act.

Oklahoma Statutes - Title 60. Property Page 294
Okla. Stat. tit. 60, § 60-1603.4 — OK Code / Title 60 / Section 60-1603.4
Representation by person having substantially identical
Status: in_force

interest.

Unless otherwise represented, a minor, incapacitated, or unborn

individual, or a person whose identity or location is unknown and

not reasonably ascertainable, may be represented by and bound by

another having a substantially identical interest with respect to

the particular question or dispute, but only to the extent there is

no conflict of interest between the representative and the person

represented.
Okla. Stat. tit. 60, § 60-1610.3 — OK Code / Title 60 / Section 60-1610.3
Applicability — Effective date
Status: repealed

A. Except as otherwise provided in this act, on the effective

date of this act:

1. This act applies to all trusts created before, on, or after

its effective date;

2. This act applies to all judicial proceedings concerning

trusts commenced on or after its effective date;

3. This act applies to judicial proceedings concerning trusts

commenced before its effective date unless the court finds that

application of a particular provision of this act would

substantially interfere with the effective conduct of the judicial

proceedings or prejudice the rights of the parties, in which case

the particular provision of this act does not apply and the

superseded law applies;

4. Any rule of construction or presumption provided in this act

applies to trust instruments executed before the effective date of

this act unless there is a clear indication of a contrary intent in

the terms of the trust; and

5. An act enacted before the effective date of this act is not

affected by this act.

B. If a right is acquired, extinguished, or barred upon the

expiration of a prescribed period that has commenced to run under

any other statute before the effective date of this act, that

Oklahoma Statutes - Title 60. Property Page 328

statute continues to apply to the right even if it has been repealed

or superseded.

C. The applicable provisions of the Oklahoma Trust Act shall

continue to apply, unless such provision is inconsistent with an

express provision of this act and, further, except as expressly

provided in this act.
Okla. Stat. tit. 60, § 60-301.2 — OK Code / Title 60 / Section 60-301.2
Legislative findings and purpose
Status: in_force

A. The Legislature finds that:

1. Charitable, religious, and educational and eleemosynary

organizations perform essential and needed services in the state;

2. Clarification is needed regarding the capability of

charitable, religious, educational, and eleemosynary organizations

to act as a fiduciary in obtaining and administering present and

future gifts benefitting the charitable, religious, educational, and

eleemosynary purposes of such organizations and their affiliates;

and

3. Clarification is needed regarding the fiduciary powers of

charitable, religious, educational, and eleemosynary organizations

in the administration of trusts which provide for present or future

gifts benefitting the charitable, religious, educational, and

eleemosynary purposes of such organizations.

B. The purpose of this act is to authorize charitable,

religious, educational, and eleemosynary organizations to act as a

fiduciary and to clarify the powers of such organizations when

acting in a permitted fiduciary capacity.
Okla. Stat. tit. 60, § 60-1301 — OK Code / Title 60 / Section 60-1301
Short title — Oklahoma Qualified Dispositions into Trust
Status: in_force

Act.

Sections 19 through 37 of this act shall be known and may be

cited as the "Oklahoma Qualified Dispositions into Trust Act".
Okla. Stat. tit. 60, § 60-382 — OK Code / Title 60 / Section 60-382
Tax exemption
Status: in_force

No gift, testamentary or otherwise, of any property, real or

personal or both, or any interest therein including, but not limited

to, right-of-way or right-of-way easements in the case of a county,

to the State of Oklahoma, or to any county, city, town, or school

district in the state, or to any combination thereof, if accepted

upon behalf of the state, county, city, town, or school district, by

the officer, proper governing board or commission thereof, nor the

transfer of title thereto in accordance with such gift, or the will

or other instrument by which such gift is made, nor the privilege of

making or receiving such a gift, nor any income or profits derived

by such state, county, city, town or school district from any such

property or its use or disposition thereof, shall be subject to any

form of tax.
Okla. Stat. tit. 60, § 60-1608.11 — OK Code / Title 60 / Section 60-1608.11
Collecting trust property
Status: in_force

A trustee shall take reasonable steps to compel a former trustee

or other person to deliver trust property to the trustee, and to

take reasonable steps to redress a breach of trust known to the

trustee to have been committed by a former trustee.
Okla. Stat. tit. 60, § 60-1601.8 — OK Code / Title 60 / Section 60-1601.8
Principal place of administration
Status: in_force

A. Without precluding other means for establishing a sufficient

connection with the designated jurisdiction, terms of a trust

designating the principal place of administration are valid and

controlling if:

1. A trustee's principal place of business is located in or a

trustee is a resident of the designated jurisdiction; or

2. All or part of the administration occurs in the designated

jurisdiction.

Oklahoma Statutes - Title 60. Property Page 299

B. A trustee is under a continuing duty to administer the trust

at a place appropriate to its purposes, its administration, and the

interests of the beneficiaries.

C. Without precluding the right of the court to order, approve,

or disapprove a transfer, the trustee, in furtherance of the duty

prescribed by subsection B of this section, may transfer the trust's

principal place of administration to another state or to a

jurisdiction outside of the United States.

D. The trustee shall notify the qualified beneficiaries of a

proposed transfer of a trust's principal place of administration not

less than sixty (60) days before initiating the transfer. The

notice of proposed transfer must include:

1. The name of the jurisdiction to which the principal place of

administration is to be transferred;

2. The address and telephone number at the new location at

which the trustee can be contacted;

3. An explanation of the reasons for the proposed transfer;

4. The date on which the proposed transfer is anticipated to

occur; and

5. The date, not less than sixty (60) days after the giving of

the notice, by which the qualified beneficiary must notify the

trustee of an objection to the proposed transfer.

E. The authority of a trustee under this section to transfer a

trust's principal place of administration terminates if a qualified

beneficiary notifies the trustee of an objection to the proposed

transfer on or before the date specified in the notice.

F. In connection with a transfer of the trust's principal place

of administration, the trustee may transfer some or all of the trust

property to a successor trustee designated in the terms of the trust

or appointed pursuant to Section 43 of this act.
Okla. Stat. tit. 60, § 60-837 — OK Code / Title 60 / Section 60-837
Remedies
Status: in_force

A. The purchaser may recover in a civil action only in the

event of any of the following:

1. The failure of the seller to provide to the purchaser a

disclaimer statement or a disclosure statement and any amendment

prior to acceptance of an offer to purchase;

2. The failure of the seller to disclose in the disclosure

statement or any amendment provided to the purchaser a defect which

Oklahoma Statutes - Title 60. Property Page 254

was actually known to the seller prior to acceptance of an offer to

purchase; or

3. The failure of the real estate licensee to disclose to the

purchaser any defects in the property actually known to the real

estate licensee prior to acceptance of an offer to purchase and

which were not included in the disclosure statement or any amendment

provided to the purchaser.

B. The sole and exclusive civil remedy at common law or

otherwise for a failure under subsection A of this section by the

seller or the real estate licensee shall be an action for actual

damages, including the cost of repairing the defect, suffered by the

purchaser as a result of a defect existing in the property as of the

date of acceptance by the seller of an offer to purchase and shall

not include the remedy of exemplary damages.

C. Any action brought under this act shall be commenced within

two (2) years after the date of transfer of real property subject to

this act.

D. In any civil action brought under this act, the prevailing

party shall be allowed court costs and a reasonable attorney fee to

be set by the court and to be collected as costs.

E. A transfer of a possessory interest in property subject to

this act may not be invalidated solely because of the failure of any

person to comply with this act.

F. This act applies to, regulates and determines rights,

duties, obligations and remedies at common law or otherwise of the

seller, the real estate licensee and the purchaser with respect to

disclosure of defects in property and supplants and abrogates all

common law liability, rights, duties, obligations and remedies

therefore.
Okla. Stat. tit. 60, § 60-1005 — OK Code / Title 60 / Section 60-1005
Definitions
Status: in_force

A. For purposes of more precisely defining the Oklahoma

Coordinate System of 1927, the following definition by the United

States Coast and Geodetic Survey (now National Ocean

Service/National Geodetic Survey) is adopted:

1. The "Oklahoma Coordinate System of 1927 North Zone", is a

Lambert conformal conic projection of the Clarke spheroid of 1866,

having parallels at north latitudes 35 degrees 34 minutes and 36

degrees 46 minutes along which parallels the scale shall be exact.

The origin of coordinates is at the intersection of the meridian 98

degrees 00 minutes west of Greenwich and the parallel 35 degrees 00

minutes north latitude. This origin is given the coordinates: x =

2,000,000 feet and y = 0 feet.

2. The "Oklahoma Coordinate System of 1927 South Zone", is a

Lambert conformal conic projection of the Clarke spheroid of 1866,

having parallels at north latitudes 33 degrees 56 minutes and 35

degrees 14 minutes along which parallels the scale shall be exact.

The origin of coordinates is at the intersection of the meridian 98

degrees 00 minutes west of Greenwich and the parallel 33 degrees 20

minutes north latitude. This origin is given the coordinates: x =

2,000,000 feet and y = 0 feet.

B. For purposes of more precisely defining the Oklahoma

Coordinate System of 1983, the following definition by the National

Ocean Service/National Geodetic Survey is adopted:

1. The "Oklahoma Coordinate System of 1983 North Zone" is a

Lambert conformal conic projection of the North American Datum of

1983, having parallels at north latitudes 35 degrees 34 minutes and

36 degrees 46 minutes along which parallels the scale shall be

exact. The origin of coordinates is at the intersection of the

meridian 98 degrees 00 minutes west of Greenwich and the parallel 35

degrees 00 minutes north latitude. This origin is given the

coordinates: x = 600,000 meters and y = 0 meters.

2. The "Oklahoma Coordinate System of 1983 South Zone" is a

Lambert conformal conic projection of the North American Datum of

1983, having standard parallels at north latitudes 33 degrees 56

minutes and 35 degrees 14 minutes along which parallels the scale

shall be exact. The origin of coordinates is at the intersection of

Oklahoma Statutes - Title 60. Property Page 266

the meridian 98 degrees 00 minutes west of Greenwich and the

parallel 33 degrees 20 minutes north latitude. This origin is given

the coordinates: x = 600,000 meters and y = 0 meters.

C. For purposes of more precisely defining the Oklahoma Plane

Coordinate System (OKPCS), the Oklahoma Plane Coordinate System

shall be the State Plane Coordinate System of 2022 (SPC2022) or its

most recent successor as defined by the National Geodetic Survey or

its successor agency.
Okla. Stat. tit. 60, § 60-175.1 — OK Code / Title 60 / Section 60-175.1
Citation of act
Status: in_force

This act may be cited as the Oklahoma Trust Act.
Okla. Stat. tit. 60, § 60-175.6a — OK Code / Title 60 / Section 60-175.6a
Acquiring and holding real property in name of express
Status: in_force

trust - Transfer - Memorandum - Presumption for conveyance by

trustee.

Any estate in real property may be acquired and held in the name

of an express private trust which is a legal entity. Where real

property is so acquired, any conveyance, assignment or other

transfer shall be made in the name of such trust by the trustee or

trustees of said trust. When real property is transferred or

acquired in the name of the trust after the effective date of this

act, the trustee shall file a memorandum of trust with the county

clerk in which the real property is located. The memorandum of

trust shall include the date of creation and the name of the trustee

or trustees of the trust.

Any person or persons making such conveyances and executing

instruments while purporting to be the trustee or trustees of such

trusts shall be presumed to be acting in the capacity indicated and

within the scope of their authority in any action to set aside such

conveyance brought against a bona fide purchaser for value.
Okla. Stat. tit. 60, § 60-301.3 — OK Code / Title 60 / Section 60-301.3
Definitions
Status: in_force

As used in the Oklahoma Charitable Fiduciary Act:

1. "Charitable organization" means an incorporated or

unincorporated organization:

a. domiciled in the State of Oklahoma,

b. recognized under Section 501(c)(3) of the Internal

Revenue Code as being organized and operated

exclusively for charitable, religious, educational, or

other eleemosynary purposes,

c. which has been in existence for at least five (5)

years if the organization administers charitable

trusts which benefit private individuals,

d. having a governing board of which a majority of its

members are persons who are qualified by education or

experience to provide direction of the charitable

organization in the administration of its charitable

trusts,

e. having a governing board of which at least forty

percent (40%) of its members are residents of the

State of Oklahoma, provided that upon proper

application the Attorney General may waive this

requirement, and

f. which has filed the comprehensive annual audit

required by Section 301.9 of this title;

2. "Charitable trust" means:

Oklahoma Statutes - Title 60. Property Page 154

a. a trust which qualifies as a charitable remainder

unitrust under the Internal Revenue Code,

b. a trust which qualifies as a charitable remainder

annuity trust under the Internal Revenue Code,

c. a trust which is described as a charitable lead trust

in the Internal Revenue Code,

d. a fund which qualifies as a pooled income fund under

the Internal Revenue Code,

e. an endowment fund as that term is defined in the

Uniform Prudent Management of Institutional Funds Act,

f. a trust providing for the welfare, maintenance,

support, and education of minor issue of a decedent

who has made a gift in the document creating the trust

for the benefit of the minor issue to the charitable

organization administering the trust or one or more of

its affiliated charitable organizations at the

decedent's death and the total of all gifts made to

the charitable organization administering the trust or

one or more of its affiliated charitable organizations

at the decedent's death is as large as the largest

distribution made to another person who is not a

charitable organization, but in no event shall the

total of all gifts made to the charitable organization

administering the trust or one or more of its

affiliated charitable organizations be less than

twenty-five percent (25%) of the property which is

available for distribution, or

g. any other irrevocable or revocable trust in which:

(1) one or more gifts of either trust income or

principal, whether outright or in trust, are

irrevocably made to or for the benefit of a

charitable organization,

(2) if the irrevocable gift is of income or principal

which is distributed before the termination of

the trust, the total of all such irrevocable

gifts of income or principal made to the

charitable organization administering the trust

or one or more of its affiliated charitable

organizations is as large as the largest

distribution to another beneficiary entitled to

receive distributions of income or principal from

the trust before the termination of the trust who

is not the charitable organization administering

the trust or an affiliated charitable

organization, but in no event shall the total of

all such irrevocable gifts of income or principal

made to the charitable organization administering

Oklahoma Statutes - Title 60. Property Page 155

the trust or one or more of its affiliated

charitable organizations before the termination

of the trust be less than twenty-five percent

(25%) of the income or principal available for

distribution from the trust,

(3) if the irrevocable gift is of the remainder of

the trust which is distributed upon the

termination of the trust, the total of all

irrevocable gifts of the remainder of the trust

made to the charitable organization administering

the trust or one or more of its affiliated

charitable organizations is as large as the

largest distribution made to another remainderman

who is not the charitable organization

administering the trust or an affiliated

charitable organization, but in no event shall

the total of all irrevocable gifts of the

remainder of the trust made to the charitable

organization administering the trust or one or

more of its affiliated charitable organizations

be less than twenty-five percent (25%) of the

remainder of the trust which is available for

distribution at the termination of the trust, and

(4) if distributions of income from the trust are

made to beneficiaries who are not charitable

organizations, such distributions are in an

amount specified by the donor in the governing

instrument, or, if not in an amount specified by

the donor in the governing instrument, are in an

amount not less than five percent (5%) of the

value of the principal of the trust determined

annually, reduced by distributions of current

income from the trust to charitable

organizations, if any; and

3. "Affiliated charitable organization" means another

charitable organization which directly or indirectly controls or is

under direct or indirect common control with the charitable

organization acting in a fiduciary capacity.
Okla. Stat. tit. 60, § 60-1610.2 — OK Code / Title 60 / Section 60-1610.2
Severability
Status: in_force

If any provision of this act or its application to any person or

circumstances is held invalid, the invalidity does not affect other

provisions or applications of this act which can be given effect

without the invalid provision or application, and to this end the

provisions of this act are severable.
Okla. Stat. tit. 60, § 60-177.5 — OK Code / Title 60 / Section 60-177.5
Rebate of reserve funds resulting from any advance
Status: in_force

funding or cash management program.

All reserve funds currently or hereafter held by any public

trust or entity, which funds result from any advance funding or cash

management program, must be rebated, with all accrued interest

thereon, on a pro rata basis of actual participation to the program

participants of the advance funding or cash management program from

which the reserve was created unless, within three (3) years of the

date of the reserve fund's initial creation, such reserve funds are

used by the public trust or entity to fund a similar advance funding

or cash management program.
Okla. Stat. tit. 60, § 60-1604.6 — OK Code / Title 60 / Section 60-1604.6
Creation of trust induced by fraud, duress, or undue
Status: in_force

influence.

A trust is void to the extent its creation was induced by fraud,

duress, or undue influence.
Okla. Stat. tit. 60, § 60-123 — OK Code / Title 60 / Section 60-123
Five-year limitation in certain cases
Status: in_force

All nonresident aliens who may hereinafter acquire real estate

in Oklahoma by devise, descent or by purchase, where such purchase

is made under any legal proceeding foreclosing liens in favor of

such alien, may hold the same for five (5) years from the date of so

acquiring such title.
Okla. Stat. tit. 60, § 60-74 — OK Code / Title 60 / Section 60-74
Joint tenancy and tenancy by entirety
Status: in_force

A joint interest is one owned by several persons in either real

or personal property in equal shares, being a joint title created by

a single instrument, will or transfer when expressly declared in the

instrument, will or transfer to be a joint tenancy, or as between

husband and wife a tenancy by entirety or joint tenancy as the

grantor may elect, or when granting or devising to executors or

trustees as joint tenants. A tenancy by entirety can only be

created between husband and wife.

Such joint tenancy or tenancy by entirety may be created by

transfer to persons as joint tenants or tenants by entirety from an

owner or a joint owner to himself and one or more persons, or from

tenants in common to themselves, or by coparceners in voluntary

partition, and such estates may be created by or for persons who

have elected to become bound under any community property act now in

existence or which may hereafter be enacted. An adjudication of

incompetency shall not operate to terminate such an estate.

Where a deed, transfer or conveyance grants an estate in joint

tenancy or tenancy by entirety in the granting clause thereof, the

granting clause shall control over the habendum clause containing

language inconsistent to the granting clause.

In the event of the death of a joint tenant or tenant by

entirety, leaving estate subject to probate, a certified copy of

letters testamentary or of administration shall constitute prima

facie evidence of such death.

The provisions of this act shall apply to all estates in joint

tenancy or tenancy by entirety in either real or personal property

heretofore or hereafter created.

Oklahoma Statutes - Title 60. Property Page 37

Nothing herein contained shall prevent execution, levy and sale

of the interest of the judgment debtor in such estates and such sale

shall constitute a severance.
Okla. Stat. tit. 60, § 60-29 — OK Code / Title 60 / Section 60-29
Reversion defined
Status: in_force

The reversion is the residue of an estate left, by operation of

law, in the grantor, or his successors, or in the successors of a

testator, commencing in possession on the determination of a

particular estate granted or devised.
Okla. Stat. tit. 60, § 60-175.701 — OK Code / Title 60 / Section 60-175.701
Short title - Oklahoma Decanting Act
Status: in_force

SHORT TITLE

This act shall be known and may be cited as the "Oklahoma

Decanting Act" and shall apply to any trust administered under the

laws of this state including a trust whose governing jurisdiction is

transferred to this state.
Okla. Stat. tit. 60, § 60-836 — OK Code / Title 60 / Section 60-836
Duties of real estate licensee
Status: in_force

A. A real estate licensee representing or assisting a seller

has the duty to obtain from the seller a disclaimer statement or a

disclosure statement and any amendment required by the Residential

Property Condition Disclosure Act and to make such statement

available to potential purchasers prior to acceptance of an offer to

purchase.

B. A real estate licensee representing or assisting a purchaser

has the duty to obtain and make available to the purchaser a

disclaimer statement or a disclosure statement and any amendment

required by the Residential Property Condition Disclosure Act prior

to the acceptance of an offer to purchase.

C. A real estate licensee has the duty to disclose to the

purchaser any defects in the property actually known to the licensee

which are not included in the disclosure statement or any amendment.

D. A real estate licensee who has complied with the

requirements of subsections A, B and C of this section, as

applicable, shall have no further duties to the seller or the

purchaser regarding any disclosures required under the Residential

Property Condition Disclosure Act.

A real estate licensee who has not complied with the

requirements of subsections A, B and C of this section shall be

subject to disciplinary action by the Oklahoma Real Estate

Commission as set forth in paragraph 6 of Section 858-208 of Title

59 of the Oklahoma Statutes.

E. A real estate licensee has no duty to the seller or the

purchaser to conduct an independent inspection of the property and

has no duty to independently verify the accuracy or completeness of

any statement made by the seller in the disclaimer statement or the

disclosure statement and any amendment.
Okla. Stat. tit. 60, § 60-839 — OK Code / Title 60 / Section 60-839
Notices and acknowledgments
Status: in_force

Any notices or acknowledgments required under this act need not

be sworn to, verified or acknowledged.
Okla. Stat. tit. 60, § 60-510 — OK Code / Title 60 / Section 60-510
Work jeopardizing soundness or safety of property
Status: in_force

prohibited without unanimous consent.

No unit owner shall do any work which would jeopardize the

soundness or safety of the property or impair any easement or

hereditament without in every such case the unanimous consent of all

the other unit owners affected being first obtained.
Okla. Stat. tit. 60, § 60-175.102 — OK Code / Title 60 / Section 60-175.102
Definitions
Status: in_force

DEFINITIONS

As used in this act:

1. "Accounting period" means a calendar year unless another

twelve-month period is selected by a fiduciary. The term includes a

portion of a calendar year or other twelve-month period that begins

when an income interest begins or ends when an income interest ends;

2. "Beneficiary" includes, in the case of a decedent's estate,

an heir, legatee, and devisee and, in the case of a trust, an income

beneficiary and a remainder beneficiary;

3. "Fiduciary" means a personal representative or a trustee.

The term includes an executor, administrator, successor personal

representative, special administrator, and a person performing

substantially the same function;

4. "Income" means money or property that a fiduciary receives

as current return from a principal asset. The term includes a

Oklahoma Statutes - Title 60. Property Page 86

portion of receipts from a sale, exchange, or liquidation of a

principal asset, to the extent provided in Article 4 of this act;

5. "Income beneficiary" means a person to whom net income of a

trust is or may be payable;

6. "Income interest" means the right of an income beneficiary

to receive all or part of net income, whether the terms of the trust

require it to be distributed or authorize it to be distributed in

the trustee's discretion;

7. "Mandatory income interest" means the right of an income

beneficiary to receive net income that the terms of the trust

require the fiduciary to distribute;

8. "Net income" means the total receipts allocated to income

during an accounting period minus the disbursements made from income

during the period, plus or minus transfers under this act to or from

income during the period;

9. "Person" means an individual, corporation, business trust,

estate, trust, partnership, limited liability company, association,

joint venture, government; governmental subdivision, agency, or

instrumentality; public corporation; or any other legal or

commercial entity;

10. "Principal" means property held in trust for distribution

to a remainder beneficiary when the trust terminates;

11. "Remainder beneficiary" means a person entitled to receive

principal when an income interest ends;

12. "Terms of a trust" means the manifestation of the intent of

a settlor or decedent with respect to the trust, expressed in a

manner that admits of its proof in a judicial proceeding, whether by

written or spoken words or by conduct; and

13. "Trustee" includes an original, additional, or successor

trustee, whether or not appointed or confirmed by a court.
Okla. Stat. tit. 60, § 60-855 — OK Code / Title 60 / Section 60-855
Application of act
Status: in_force

The powers granted the owners association under this act shall

apply only to owners associations created subsequent to the

effective date of this act.
Okla. Stat. tit. 60, § 60-175.714 — OK Code / Title 60 / Section 60-175.714
Need for distribution not required
Status: in_force

NEED FOR DISTRIBUTION NOT REQUIRED

An authorized trustee may exercise the power to distribute

principal to a second trust under Section 3 or 4 of this act

regardless of whether there is a current need to distribute

principal under the terms of the first trust.
Okla. Stat. tit. 60, § 60-175.81 — OK Code / Title 60 / Section 60-175.81
Oklahoma Discretionary and Special Needs Trust Act
Status: in_force

This act shall be known and may be cited as the “Oklahoma

Discretionary and Special Needs Trust Act”.
Okla. Stat. tit. 60, § 60-49.6 — OK Code / Title 60 / Section 60-49.6
Applicability
Status: in_force

APPLICABILITY

A. The Uniform Conservation Easement Act applies to any

interest created after November 1, 1999, which complies with the

Uniform Conservation Easement Act, whether designated as a

conservation easement or as a covenant, equitable servitude,

restriction, easement, or otherwise.

B. The Uniform Conservation Easement Act applies to any

interest created before November 1, 1999, if it would have been

enforceable had it been created after November 1, 1999, unless

retroactive application contravenes the constitution or laws of this

state or the United States.

C. The Uniform Conservation Easement Act does not invalidate

any interest, whether designated as a conservation or preservation

easement or as a covenant, equitable servitude, restriction,

easement, or otherwise, that is enforceable under other laws of this

state.
Okla. Stat. tit. 60, § 60-861 — OK Code / Title 60 / Section 60-861
Legislative findings - Goal of act
Status: in_force

A. The Legislature makes the following findings with regard to

the rights of persons with developmental or physical disabilities:

1. Persons with developmental or physical disabilities have a

right to appropriate treatment, services, and habilitation for such

disabilities;

2. The treatment, services, and habilitation for a person with

developmental or physical disabilities should be designed to

maximize the developmental potential of the person and should be

provided for in the setting that is least restrictive of the

person's personal liberty; and

3. All programs for persons with developmental or physical

disabilities should meet standards which are designed to ensure:

a. the most favorable possible outcome for those served,

b. in the case of residential programs for persons with

developmental or physical disabilities, that care is

appropriate to the needs of the persons being served

by such programs,

c. that the persons admitted to facilities of such

programs are persons whose needs can be met through

services provided by such facilities, and

d. that the facilities subject to such programs provide

for the humane care of the residents of the facilities

and protect their rights.

B. The Legislature declares that it is the goal of the

Community Residential Living for Persons with Developmental or

Physical Disabilities Act to improve the quality of life of all

persons with developmental or physical disabilities and to integrate

persons with developmental or physical disabilities into the

mainstream of society by ensuring them the availability of community

residential opportunities in the residential areas of this state.

In order to implement this goal, the Community Residential Living

for Persons with Developmental or Physical Disabilities Act shall be

liberally construed toward that end.
Okla. Stat. tit. 60, § 60-175.55 — OK Code / Title 60 / Section 60-175.55
Investment of trust assets by bank, trust company or
Status: in_force

affiliate of bank or trust company.

A. A bank, trust company, or affiliate of a bank or trust

company which serves as a fiduciary, trustee, custodian, managing

agent, personal representative, or otherwise may invest and reinvest

assets that it maintains in its trust department or trust company in

the securities of any open-end or closed-end management investment

company or investment trust registered under the Investment Company

Act of 1940, 15 U.S.C., Section 80a-1 through 80a-64, as amended.

B. Any investment or reinvestment made pursuant to subsection A

of this section shall comply with the provisions of the Oklahoma

Uniform Prudent Investor Act.

C. A bank, trust company or an affiliate of a bank or trust

company which is providing services to an investment company or

investment trust as investment adviser, sponsor, distributor,

custodian, transfer agent, administrator, registrar, or otherwise

and who is receiving reasonable remuneration for such services, may

make investments and reinvestments pursuant to subsections A and B

of this section in said investment company or investment trust.

D. Any bank, trust company or affiliate of a bank or trust

company which makes investments or reinvestments pursuant to

subsection C of this section:

1. Shall not be required to reduce or waive its fees or charges

for services provided in connection with the investment and

management of funds it holds as fiduciary, trustee, custodian,

managing agent, personal representative, or otherwise because such

funds are invested, reinvested, or retained in an investment company

or investment trust so long as the total compensation paid,

including any fees or charges payable by the investment company or

investment trust in connection with the investment of such funds, is

reasonable; and

2. May receive fees in accordance with Rule 12b-1 of the

Investment Company Act of 1940, or similar fees, from the investment

company or investment trust in the same amount that would be paid by

such investment company or investment trust to any other party,

without reducing or waiving other fees it receives for serving as a

fiduciary, trustee, custodian, managing agent, personal

representative or otherwise. Any fees received by a bank, trust

company, or affiliate of a bank or trust company pursuant to this

paragraph shall be disclosed to the customer of such bank, trust

company, or affiliate of the bank or trust company.
Okla. Stat. tit. 60, § 60-299.13 — OK Code / Title 60 / Section 60-299.13
Advancements to descendents
Status: in_force

Every estate or interest given to a descendent of the donee by

the exercise of a power is an advancement to such descendent to the

same extent that a gift of property owned by the donee would be an

advancement.

Oklahoma Statutes - Title 60. Property Page 146
Okla. Stat. tit. 60, § 60-507 — OK Code / Title 60 / Section 60-507
Use of common elements
Status: in_force

Each unit owner may use the common elements in accordance with

the purpose for which they are intended, without hindering or

encroaching upon the lawful rights of the other unit owners.
Okla. Stat. tit. 60, § 60-350 — OK Code / Title 60 / Section 60-350
Definitions - Legislative findings - Recorded transfer
Status: in_force

fees.

A. As used in this section:

1. “Association” means a nonprofit mandatory membership

organization comprised of owners of homes, condominiums,

cooperatives, manufactured homes, or any interest in real property,

created pursuant to a declaration, covenant, or other applicable

law;

2. “Transfer” means the sale, gift, grant, conveyance,

assignment, inheritance, or other transfer of an interest in real

property located in this state;

3. “Transfer fee” means a fee or charge imposed by a transfer

fee covenant, but shall not include any tax, assessment, fee or

charge imposed by a governmental authority pursuant to applicable

laws, ordinances, or regulations; and

4. “Transfer fee covenant” means a provision in a document,

whether recorded or not and however denominated, which purports to

run with the land or bind current owners, purchasers or successors

in title to specified real property located in this state, and which

obligates a transferee or transferor of all or part of the property

or any interest thereon to pay a fee or charge to a third person or

entity upon transfer of an interest in all or part of the property,

Oklahoma Statutes - Title 60. Property Page 169

or in consideration for permitting any such transfer. The term

“transfer fee covenant” shall not include:

a. any provision of a purchase contract, option,

mortgage, security agreement, real property listing

agreement, or other agreement that obligates one party

to the agreement to pay the other party as full or

partial consideration for the agreement or for a

waiver of rights under the agreement if the amount to

be paid is:

(1) a loan assumption fee or similar fee charged by a

lender that holds a mortgage on the property, and

(2) a fee or commission paid to a licensed real

estate broker for brokerage services rendered in

connection with the transfer of the property for

which the fee or commission is paid,

b. any provision in a deed, memorandum or other document

recorded for the purpose of providing record notice of

an agreement prescribed in subparagraph a of paragraph

4 of subsection A of this section,

c. any rent, reimbursement, charge, fee or other amount

payable by a lessee to a lessor under a lease,

including any fee payable to the lessor for consenting

to an assignment, sublease, encumbrance or transfer of

the lease,

d. any consideration payable to the holder of an option

to purchase an interest in the real property or to the

holder of a right of first refusal or first offer to

purchase an interest in real property and paid for

waiving, releasing or not exercising the option or

right on transfer of the property to another person,

provided that the payment is on a one-time basis upon

the next transfer, and once paid shall not bind

successors in title to the property,

e. any fee, charge, assessment, dues, contribution or

other amount relating to the purchase or transfer of a

club membership related to the real property owner by

the transferor,

f. any provision of a document requiring payment of a fee

or charge to an association comprised of owners of

properties described therein to be used exclusively

for purposes authorized in the document, as long as no

portion of the fee is required to be passed through to

a third party or entity designated or identifiable by

description in the document or another document

referenced therein, and

g. any fee that is charged as a typical real estate

closing cost, including but not limited to escrow

Oklahoma Statutes - Title 60. Property Page 170

fees, settlement fees, abstracting fees, legal fees or

title insurance premiums.

B. The Legislature makes the following findings:

1. The public policy of this state favors the transferability

of interest in real property free from unreasonable restraints on

alienation and covenants or servitudes that do not touch and concern

the property; and

2. A transfer fee covenant violates this public policy by

impairing the marketability of title to the affected real property

and constitutes an unreasonable restraint on alienation, regardless

of the duration of the covenant or the amount of the transfer fee

set forth in the covenant.

C. A transfer fee recorded, filed or entered into in this state

on or after the effective date of this section does not run with the

title to real property and is not binding on or enforceable at law

or in equity against any owner, subsequent owner, purchaser or

mortgagee of any interest in real property as an equitable

servitude, personal obligation or otherwise. Any private transfer

fee obligation that is recorded, filed or entered into in this state

on or after the effective date of this section is void and

unenforceable.

D. Nothing in this section shall imply that a transfer fee

covenant recorded prior to the effective date of this section is

valid or enforceable.
Okla. Stat. tit. 60, § 60-1607.4 — OK Code / Title 60 / Section 60-1607.4
Vacancy in trusteeship — Appointment of successor
Status: in_force

A. A vacancy in a trusteeship occurs if:

1. A person designated as trustee rejects the trusteeship;

2. A person designated as trustee cannot be identified or does

not exist;

3. A trustee resigns;

4. A trustee is disqualified or removed;

5. A trustee dies; or

6. A guardian is appointed for an individual serving as

trustee.

B. If one or more co-trustees remain in office, a vacancy in a

trusteeship need not be filled. A vacancy in a trusteeship must be

filled if the trust has no remaining trustee.

C. A vacancy in a trusteeship of a noncharitable trust that is

required to be filled must be filled in the following order of

priority:

1. By a person designated in the terms of the trust to act as

successor trustee;

2. By a person appointed by unanimous agreement of the

qualified beneficiaries; or

3. By a person appointed by the court.

D. A vacancy in a trusteeship of a charitable trust that is

required to be filled must be filled in the following order of

priority:

1. By a person designated in the terms of the trust to act as

successor trustee;

2. By a person selected by the charitable organizations

expressly designated to receive distributions under the terms of the

Oklahoma Statutes - Title 60. Property Page 313

trust if the Office of the Attorney General concurs in the

selection; or

3. By a person appointed by the court.

E. Whether or not a vacancy in a trusteeship exists or is

required to be filled, the court may appoint an additional trustee

or special fiduciary whenever the court considers the appointment

necessary for the administration of the trust.
Okla. Stat. tit. 60, § 60-1607.8 — OK Code / Title 60 / Section 60-1607.8
Compensation of trustee
Status: in_force

A. If the terms of a trust do not specify the trustee's

compensation, a trustee is entitled to compensation that is

reasonable under the circumstances.

B. If the terms of a trust specify the trustee's compensation,

the trustee is entitled to be compensated as specified, but the

court may allow more or less compensation if:

1. The duties of the trustee are substantially different from

those contemplated when the trust was created; or

2. The compensation specified by the terms of the trust would

be unreasonably low or high.
Okla. Stat. tit. 60, § 60-1604.7 — OK Code / Title 60 / Section 60-1604.7
Evidence of oral trust
Status: in_force

Except as required by a statute other than this act, a trust

need not be evidenced by a trust instrument, but the creation of an

oral trust and its terms may be established only by clear and

convincing evidence.
Okla. Stat. tit. 60, § 60-175.62 — OK Code / Title 60 / Section 60-175.62
Standard of care - Portfolio strategy - Risk and return
Status: in_force

objectives.

Standard of Care; Portfolio Strategy; Risk and Return

Objectives.

A. A trustee shall invest and manage trust assets as a prudent

investor would, by considering the purposes, terms, distribution

requirements, and other circumstances of the trust. In satisfying

this standard, the trustee shall exercise reasonable care, skill,

and caution.

B. A trustee's investment and management decisions respecting

individual assets must be evaluated not in isolation, but in the

context of the trust portfolio as a whole and as a part of an

overall investment strategy having risk and return objectives

reasonably suited to the trust.

C. Among circumstances that a trustee shall consider in

investing and managing trust assets are those of the following as

are relevant to the trust or its beneficiaries:

1. General economic conditions;

2. The possible effect of inflation or deflation;

3. The expected tax consequences of investment decisions or

strategies;

4. The role that each investment or course of action plays

within the overall trust portfolio, which may include financial

assets, interests in closely held enterprises, tangible and

intangible personal property, and real property;

5. The expected total return from income and the appreciation

of capital;

6. Other resources of the beneficiaries;

7. Needs for liquidity, regularity of income, and preservation

or appreciation of capital; and

8. An asset's special relationship or special value, if any, to

the purposes of the trust or to one or more of the beneficiaries.

D. A trustee shall make a reasonable effort to verify facts

relevant to the investment and management of trust assets.

E. A trustee may invest in any kind of property or type of

investment consistent with the standards of the Oklahoma Uniform

Prudent Investor Act.

Oklahoma Statutes - Title 60. Property Page 76

F. A trustee who has special skills or expertise, or is named

trustee in reliance upon the trustee's representation that the

trustee has special skills or expertise, has a duty to use those

special skills or expertise.
Okla. Stat. tit. 60, § 60-175.3 — OK Code / Title 60 / Section 60-175.3
Definitions of terms used
Status: in_force

As used in this act unless the context or subject matter

otherwise requires:

A. "Person" means an individual, a corporation, a partnership,

an association, a joint stock company, a business trust, an

unincorporated organization, or two or more persons having a joint

or common interest.

Oklahoma Statutes - Title 60. Property Page 49

B. "Trustor" means the maker, creator, donor, settlor, grantor,

of a trust and the testator or testatrix of a will containing trust

provisions.

C. "Trustee" includes trustees, a corporate trustee and the

judicially ordered successor of the corporate trustee in the event

of assumption by a financial institution of fiduciary accounts for

all trusts of the corporate trustee in existence on the date of the

assumption, including testamentary trusts which come into existence

after the date of assumption, as well as a natural person and a

successor or substitute trustee. Provided, a successor in interest

shall include a judicially ordered successor in the event of an

assumption by a financial institution of fiduciary accounts for all

trusts in existence on the date of the assumption, together with

those testamentary trusts which come into existence after the date

of assumption.

D. "Relative" means a spouse, ancestor, descendant, brother, or

sister, by blood or adoption.

E. "Affiliate" means any person directly or indirectly

controlling or controlled by another person, or any person under

direct or indirect common control with another person. It includes,

but is not limited to, any person with whom a trustee has an express

or implied agreement regarding the purchase of trust investments by

each from the other, directly or indirectly, except a broker or

stock exchange. It does not include a bank, trust company or

affiliate of a bank or trust company which is providing services to

an investment company or trust as investment advisor, sponsor,

distributor, custodian, transfer agent, administrator, registrar or

otherwise.

F. "Trust" means an express trust only, and does not include so

called "business trusts".

G. "Principal" means any real or personal property which has

been so set aside or limited by the owner thereof, or a person

thereto, legally empowered that it and any substitutions for it are

eventually to be conveyed, delivered, or paid to a person, while the

return therefrom, or use thereof, or any part of such return or use

is in the meantime to be taken or received by or held for

accumulation for the same or another person.

H. "Income" means the return derived from principal.

I. "Tenant" means the person to whom income is presently or

currently payable, or for whom it is accumulated or who is entitled

to the beneficial use of the principal presently and for a time

prior to its distribution.

J. "Remainderman" means the person ultimately entitled to the

principal, whether named or designated by the terms of the

transaction by which the principal was established or determined by

operation of law.

Oklahoma Statutes - Title 60. Property Page 50

K. "Beneficiary" means any person entitled to receive from a

trust any benefit of whatsoever kind or character.

L. "Trustee's compensation," as used in this act, means the

normal, recurring fee of the trustee for services in the management

and administration of the trust estate, irrespective of the manner

of computation of such fee. "Trustee's commission," as used in this

act, means the fee of the trustee for services rendered, other than

in the normal management and administration of the trust estate, and

includes extraordinary services, remuneration of the trustee for

acceptance, distribution, termination, and all other fees of similar

nature, as distinguished from regularly recurring compensation for

management and supervision of the trust estate by the trustee.

M. "Trustee advisor" means a person appointed by the terms of

the trust instrument to act as an advisor to the trustee with regard

to all or some of the matters relating to the property of the trust.

Unless otherwise provided by the terms of the trust instrument, if a

trustee advisor is appointed, the property and management of the

trust and the exercise of all powers and discretionary acts

exercisable by the trustee remain vested in the trustee as fully and

effectively as if an advisor were not appointed, the trustee is not

required to follow the advice of the trustee advisor, and the

trustee advisor is not liable as or considered to be a trustee of

the trust or a fiduciary when acting as an advisor to the trust.
Okla. Stat. tit. 60, § 60-701 — OK Code / Title 60 / Section 60-701
Accounts presumed abandoned - Escheat
Status: in_force

All Postal Savings System accounts created by the deposits of

persons whose last-known addresses are in this state which have not

been claimed by the persons entitled thereto before May 1, 1971, are

presumed to have been abandoned by their owners and are declared to

escheat and become the property of this state.
Okla. Stat. tit. 60, § 60-1601.1 — OK Code / Title 60 / Section 60-1601.1
Short title — Oklahoma Uniform Trust Code
Status: in_force

This act shall be known and may be cited as the "Oklahoma

Uniform Trust Code".
Okla. Stat. tit. 60, § 60-856 — OK Code / Title 60 / Section 60-856
Enforcement of restrictions and covenants
Status: in_force

Any person owning property in a real estate development shall be

entitled to bring action against any other person owning property in

such development to enforce any of the restrictions or covenants of

the real estate development which are specified by the covenants or

restrictions. In any action to enforce any restriction or covenant

pursuant to the provisions of this section, the prevailing party

shall be entitled to recover reasonable attorney's fees to be fixed

by the court, which shall be taxed as costs in the action.
Okla. Stat. tit. 60, § 60-42 — OK Code / Title 60 / Section 60-42
Remainder not contingent
Status: in_force

When a remainder on an estate for life or for years is not

limited on a contingency defeating or avoiding such precedent

estate, it is to be deemed intended to take effect only on the death

of the first taker, or the expiration, by lapse of time, of such

term of years.
Okla. Stat. tit. 60, § 60-1601.10 — OK Code / Title 60 / Section 60-1601.10
Rules of construction
Status: in_force

The rules of construction that apply in this state to the

interpretation of and disposition of property by will also apply as

appropriate to the interpretation of the terms of a trust and the

disposition of the trust property.
Okla. Stat. tit. 60, § 60-657.1 — OK Code / Title 60 / Section 60-657.1
Credit memo issued in ordinary course of business
Status: in_force

(a) A credit memo issued in the ordinary course of an issuer's

business which has a value of more than Fifty Dollars ($50.00) and

remains unclaimed by the owner for more than five (5) years after

becoming payable or distributable is presumed abandoned.

(b) With regard to a credit memo, the amount presumed abandoned

is the amount credited to the recipient of the memo. In applying

the Fifty Dollar ($50.00) limitation, individual credit memos to the

same owner shall not be aggregated.
Okla. Stat. tit. 60, § 60-2006 — OK Code / Title 60 / Section 60-2006
Lender — Notification to museum
Status: in_force

The lender shall notify the museum of a change of address or of

a change in ownership of the loaned property in order to ensure the

retention of rights to the loaned property.
Okla. Stat. tit. 60, § 60-299.2 — OK Code / Title 60 / Section 60-299.2
Creation
Status: in_force

A donor may create a power of appointment only by an instrument

executed with the same formalities as one which would pass title to

the property covered by the power.
Okla. Stat. tit. 60, § 60-300.17 — OK Code / Title 60 / Section 60-300.17
Reviewing compliance
Status: in_force

REVIEWING COMPLIANCE. Compliance with the Uniform Prudent

Management of Institutional Funds Act is determined in light of the

facts and circumstances existing at the time a decision is made or

action is taken, and not by hindsight.
Okla. Stat. tit. 60, § 60-1609.6 — OK Code / Title 60 / Section 60-1609.6
Interest as general partner
Status: in_force

A. Except as otherwise provided in subsection C of this section

or unless personal liability is imposed in the contract, a trustee

who holds an interest as a general partner in a general or limited

partnership is not personally liable on a contract entered into by

the partnership after the trust's acquisition of the interest if the

fiduciary capacity was disclosed in the contract or in a statement

previously filed pursuant to the Oklahoma Revised Uniform

Partnership Act or Oklahoma Uniform Limited Partnership Act of 2010.

B. Except as otherwise provided in subsection C of this

section, a trustee who holds an interest as a general partner is not

personally liable for torts committed by the partnership or for

obligations arising from ownership or control of the interest unless

the trustee is personally at fault.

C. The immunity provided by this section does not apply if an

interest in the partnership is held by the trustee in a capacity

other than that of trustee or is held by the trustee's spouse or one

or more of the trustee's descendants, siblings, or parents, or the

spouse of any of them.

D. Except as otherwise provided by Oklahoma law, if the trustee

of a revocable trust holds an interest as a general partner, the

settlor is personally liable for contracts and other obligations of

the partnership as if the settlor were a general partner.
Okla. Stat. tit. 60, § 60-677 — OK Code / Title 60 / Section 60-677
Declining receipt of property - Delivery of property
Status: in_force

before presumed abandoned - Sale of securities.

A. The State Treasurer may decline to receive any property

reported under the Uniform Unclaimed Property Act which the State

Treasurer considers to have a value less than the expense of giving

notice and of sale. The State Treasurer may promulgate rules

pursuant to this subsection.

B. A holder, with the written consent of the State Treasurer

and upon conditions and terms prescribed by the State Treasurer, may

report and deliver property before the property is presumed

abandoned. If a property holder reports and delivers property to

the State Treasurer before it is presumed abandoned under the

Uniform Unclaimed Property Act and it is in the best interest of the

property owner for the property to be treated as abandoned, the

Treasurer shall treat the property as abandoned.

C. The State Treasurer may decline to accept weapons abandoned

in safe deposit boxes which become property subject to the Uniform

Unclaimed Property Act. Such property shall be deposited with a

local sheriff or municipal police department.

D. If a claimant under the Uniform Unclaimed Property Act makes

a verifiable and proper claim, but fails to properly transfer

securities into the claimant's name within ninety (90) days of claim

approval by the State Treasurer, the State Treasurer may, upon

notice to claimant, sell and convert such securities to cash for the

benefit of the claimant.Oklahoma Statutes - Title 60. Property Page 10
Okla. Stat. tit. 60, § 60-35 — OK Code / Title 60 / Section 60-35
Future estates
Status: in_force

Subject to the rules of this chapter, a freehold estate, as well

as an estate for years, may be created to commence at a future day;

an estate for life may be created in a term of years, and a

remainder limited thereon; a remainder of a freehold or an estate

for years, either contingent or vested, may be created, expectant on

the determination of a term of years; and a fee may be limited on a

fee, upon a contingency, which if it should occur, must happen

within the period prescribed herein.
Okla. Stat. tit. 60, § 60-299.11 — OK Code / Title 60 / Section 60-299.11
Conveyances and devises
Status: in_force

A deed either creating or exercising a power of appointment over

real property is a conveyance. A will appointing real property is a

devise.
Okla. Stat. tit. 60, § 60-7 — OK Code / Title 60 / Section 60-7
Fixtures defined
Status: in_force

A thing is deemed to be affixed to land when it is attached to

it by roots, as in the case of trees, vines or shrubs, or embedded

in it, as in the case of walls, or permanently resting upon it, as

in the case of buildings, or permanently attached to what is thus

permanent, as by means of cement, plaster, nails, bolts or screws.

R.L. 1910 Sec. 6592.
Okla. Stat. tit. 60, § 60-175.101 — OK Code / Title 60 / Section 60-175.101
Short title
Status: in_force

SHORT TITLE

This act shall be known and may be cited as the "Oklahoma

Uniform Principal and Income Act".
Okla. Stat. tit. 60, § 60-1304 — OK Code / Title 60 / Section 60-1304
Qualified person defined
Status: in_force

A. For the purposes of the Oklahoma Qualified Dispositions into

Trust Act, a qualified person is:

1. An individual who, except for brief intervals, military

service, attendance at an educational or training institution, or

for absences for good cause shown, resides in this state, whose true

and permanent home is in this state, who does not have a present

intention of moving from this state, and who has the intention of

returning to this state when away;

2. A trust company that is organized under state law or under

federal law and that has its principal place of business in this

state; or

3. A bank or savings association that possesses and exercises

trust powers, has its principal place of business in this state, and

the deposits of which are insured by the Federal Deposit Insurance

Corporation.

B. A qualified person must meet the requirements as provided in

Section 23 of this act.
Okla. Stat. tit. 60, § 60-517 — OK Code / Title 60 / Section 60-517
Removal of property from provisions of act
Status: in_force

The unit owners, by unanimous action, may remove a property from

the provisions of this act by an instrument to that effect, duly

recorded, provided that the holders of all liens affecting any of

the units consent thereto or agree, in either case by instruments

duly recorded, that their liens be transferred to an undivided

interest in the property.

Upon removal of the property from the provisions of this act,

the property shall be deemed to be owned in common by the unit

owners. The undivided interest in the property owned in common which

shall appertain to each unit owner shall be the percentage of

undivided interest previously owned by such owner in the common

elements and facilities.
Okla. Stat. tit. 60, § 60-175.402 — OK Code / Title 60 / Section 60-175.402
Distribution from trust or estate
Status: in_force

DISTRIBUTION FROM TRUST OR ESTATE

A trustee shall allocate to income an amount received as a

distribution of income from a trust or an estate in which the trust

has an interest other than a purchased interest, and shall allocate

to principal an amount received as a distribution of principal from

such a trust or estate. If a trustee purchases an interest in a

trust that is an investment entity, or a decedent or donor transfers

an interest in such a trust to a trustee, Section 10 or 24 of this

act applies to a receipt from the trust.
Okla. Stat. tit. 60, § 60-175.84 — OK Code / Title 60 / Section 60-175.84
Applicable provisions for trusts created pursuant to
Status: in_force

Oklahoma Discretionary and Special Needs Trust Act.

The following provisions apply to all trusts created pursuant to

the Oklahoma Discretionary and Special Needs Trust Act:

1. A creditor shall not attach, exercise, or otherwise reach an

interest of a beneficiary or any other person who holds an

unconditional or conditional removal or replacement power over a

trustee. Further, this power is personal to the beneficiary and may

not be exercised by the creditors of the beneficiary, nor may a

court direct any person to exercise this power;

2. A creditor shall not reach an interest of a beneficiary nor

otherwise compel a distribution because the beneficiary is then

serving as a trustee or a cotrustee;

3. If a party challenges a settlor or the influence of a

beneficiary over a trust, the following factors, alone or in

combination, shall not be considered dominion and control over a

trust:

a. a beneficiary serving as a trustee or a cotrustee as

described in paragraph 2 of this section,

b. the settlor or a beneficiary holds an unrestricted

power to remove or replace a trustee,

c. the settlor or a beneficiary, as provided in the

applicable trust instrument, is:

(1) a trust administrator,

(2) a trust protector,

(3) a special trustee, or

(4) a general partner of a partnership, a manager of

a limited liability company, an officer of a

corporation, or any other managerial function of

any other type of entity, and part or all of the

trust property consists of an interest in said

entity,

d. a person related by blood or adoption to a settlor or

a beneficiary is appointed as trustee, or

Oklahoma Statutes - Title 60. Property Page 81

e. an accountant of a settlor or a beneficiary, attorney,

financial advisor, business associate, or a friend is

appointed as trustee; and

4. The settlor or any beneficiary shall not be deemed to be the

alter ego of a trustee. The following factors, alone or in

combination, shall not be sufficient evidence for a court to

conclude that the settlor controls a trustee or is the alter ego of

a trustee:

a. any combination of the factors listed in paragraph 3

of this section,

b. occasional occurrences in which the settlor or a

beneficiary may have signed checks, made disbursements

or executed other documents related to the trust as a

trustee, when in fact the settlor or a beneficiary was

not a trustee,

c. making requests for distributions on behalf of

beneficiaries, or

d. making requests to the trustee to hold, purchase, or

sell any trust property.
Okla. Stat. tit. 60, § 60-49.17 — OK Code / Title 60 / Section 60-49.17
Notice
Status: in_force

NOTICE.

A. A copy of an environmental covenant shall be provided by the

persons and in the manner required by the agency to:

1. Each person that signed the covenant;

2. Each person holding a recorded interest in the real property

subject to the covenant;

3. Each person in possession of the real property subject to

the covenant;

4. Each municipality or other unit of local government in which

real property subject to the covenant is located; and

5. Any other person the agency requires.

B. The validity of a covenant is not affected by failure to

provide a copy of the covenant as required under this section.
Okla. Stat. tit. 60, § 60-300.14 — OK Code / Title 60 / Section 60-300.14
Appropriation for expenditure or accumulation of
Status: in_force

endowment fund – Rules of construction.

APPROPRIATION FOR EXPENDITURE OR ACCUMULATION OF ENDOWMENT FUND;

RULES OF CONSTRUCTION.

(a) Subject to the intent of a donor expressed in the gift

instrument, an institution may appropriate for expenditure or

accumulate so much of an endowment fund as the institution

determines is prudent for the uses, benefits, purposes, and duration

for which the endowment fund is established. Unless stated

otherwise in the gift instrument, the assets in an endowment fund

are donor-restricted assets until appropriated for expenditure by

the institution. In making a determination to appropriate or

accumulate, the institution shall act in good faith, with the care

that an ordinarily prudent person in a like position would exercise

under similar circumstances, and shall consider, if relevant, the

following factors:

(1) the duration and preservation of the endowment fund;

(2) the purposes of the institution and the endowment fund;

(3) general economic conditions;

Oklahoma Statutes - Title 60. Property Page 150

(4) the possible effect of inflation or deflation;

(5) the expected total return from income and the appreciation

of investments;

(6) other resources of the institution; and

(7) the investment policy of the institution.

(b) To limit the authority to appropriate for expenditure or

accumulate under subsection (a), a gift instrument must specifically

state the limitation.

(c) Terms in a gift instrument designating a gift as an

endowment, or a direction or authorization in the gift instrument to

use only “income”, “interest”, “dividends”, or “rents, issues, or

profits”, or “to preserve the principal intact”, or words of similar

import:

(1) create an endowment fund of permanent duration unless other

language in the gift instrument limits the duration or purpose of

the fund; and

(2) do not otherwise limit the authority to appropriate for

expenditure or accumulate under subsection (a) of this section.
Okla. Stat. tit. 60, § 60-1305 — OK Code / Title 60 / Section 60-1305
Governing law — Jurisdiction over trusts created in
Status: in_force

foreign jurisdictions.

A. Except as expressly provided by the terms of a governing

instrument or by a court order, a general law or a state

jurisdiction provision stating that the laws of this state govern is

valid, effective, and conclusive for the trust if all of the

following are true:

1. Some or all of the trust assets are deposited in this state

or physical evidence of such assets is held in this state and the

trust is being administered by a qualified person. "Deposited in

this state" includes being held in a checking account, time deposit,

certificate of deposit, brokerage account, trust company fiduciary

account, or other similar account or deposit that is located in this

state, including Oklahoma investments;

2. A trustee is a qualified person who is designated as a

trustee under the governing instrument or a successor trusteeship,

or designated by a court having jurisdiction over the trust; and

3. The administration, including physically maintaining trust

records in this state, and preparing or arranging for the

preparation of, on an exclusive basis or a nonexclusive basis, an

income tax return that must be filed by the trust, occurs wholly or

partly in this state.

B. The courts of this state have jurisdiction over a trust

created in a foreign jurisdiction if the administration of the trust

meets the criteria of paragraphs 1 through 3 of subsection A of this

section.

Oklahoma Statutes - Title 60. Property Page 279

C. Nothing in this section may be construed to be the exclusive

means of providing a valid effective and conclusive state

jurisdiction provision.
Okla. Stat. tit. 60, § 60-342 — OK Code / Title 60 / Section 60-342
Principal part defined
Status: in_force

That part is to be deemed the principal to which the other has

been united only for the use, ornament or completion of the former,

unless the latter is the more valuable and has been united without

the knowledge of its owner, who may in the latter case require it to

be separated and returned to him, although some injury should result

to the thing to which it has been united.
Okla. Stat. tit. 60, § 60-175.12 — OK Code / Title 60 / Section 60-175.12
Trustee selling to self as trustee of another trust
Status: in_force

No trustee shall as trustee of one trust sell property to

himself as trustee of another trust, except bonds, notes, and

obligations fully guaranteed as to both principal and interest, by

Oklahoma Statutes - Title 60. Property Page 54

the United States of America, which may be so sold at the current

market price.
Okla. Stat. tit. 60, § 60-49.16 — OK Code / Title 60 / Section 60-49.16
Relationship to other land-use law
Status: in_force

RELATIONSHIP TO OTHER LAND-USE LAW.

The Uniform Environmental Covenants Act does not authorize a use

of real property that is otherwise prohibited by zoning, by law

other than the Uniform Environmental Covenants Act regulating use of

real property, or by a recorded instrument that has priority over

the environmental covenant. An environmental covenant may prohibit

or restrict uses of real property which are authorized by zoning or

by law other than the Uniform Environmental Covenants Act.
Okla. Stat. tit. 60, § 60-2003 — OK Code / Title 60 / Section 60-2003
Museums — Legal title to loaned property — Requirements
Status: in_force

A. A museum may acquire legal title to loaned property pursuant

to this section. Upon the expiration date of the loan, the museum

must attempt to notify the lender in writing in order to return the

loan. If, since the expiration date of the loan, two (2) years have

passed with no written contact between the lender and the museum or

if the loan has no expiration date and at least two (2) years have

passed since the loan was made and written contact between the

lender and the museum occurred, the museum shall send a notice by

certified mail, return receipt requested, to the lender's last-known

address. This notice shall contain a statement that the loan is now

terminated as well as all information required in the notice under

paragraph 1 of subsection A of Section 2 of this act. Notice is

Oklahoma Statutes - Title 60. Property Page 330

deemed given if the museum receives proof of receipt within thirty

(30) days after mailing the notice. If proof of delivery of the

notice is not received within thirty (30) days from the date the

notice was mailed, the museum shall publish a notice by publication

in the newspaper of record in the county where the museum is

located.

B. If the requirements of subsection A of this section are met,

the museum may acquire title to the loaned property by sending a

notice by certified mail, return receipt requested, to the lender's

last-known address. This notice shall contain all information

required in the notice under paragraph 2 of subsection A of Section

2 of this act.
Okla. Stat. tit. 60, § 60-1104 — OK Code / Title 60 / Section 60-1104
Unconstitutional
Status: in_force

NOTE: This section was held unconstitutional by the Oklahoma

Supreme Court in the case of Weddington v. Henry, 202 P.3d 143, 2008

OK 102 (2009).
Okla. Stat. tit. 60, § 60-175.21 — OK Code / Title 60 / Section 60-175.21
Duties, restrictions or liabilities of trustee -
Status: reserved

Trustor may relieve trustee or add others.

The trustor of any trust affected by this act may, by provisions

in the instrument creating the trust, or by an amendment of the

trust if the trustor reserved the power to amend the trust, relieve

his trustee from any or all of the duties, restrictions, and

liabilities which would otherwise be imposed upon him by this act;

or alter or deny to his trustee any or all of the privileges and

powers conferred upon the trustee by this act; or add duties,

restrictions, liabilities, privileges, or powers to those imposed or

granted by this act; but no act of the trustor shall relieve a

corporate trustee from the duties, restrictions, and liabilities

imposed upon it by Sections 9, 10, and 11 of this act.
Okla. Stat. tit. 60, § 60-175.702 — OK Code / Title 60 / Section 60-175.702
Definitions
Status: in_force

DEFINITIONS

As used in this act, unless the context or subject matter

otherwise requires:

1. "Authorized trustee" means a person, other than the settlor,

who has authority under the terms of a first trust to distribute the

principal or income of the trust to or for the benefit of one or

more current beneficiaries or a special needs fiduciary under

Section 5 of this act;

2. "Charity" means a charitable organization or a charitable

trust, as those terms are defined by Section 301.3 of Title 60 of

the Oklahoma Statutes or Section 552.2 of Title 18 of the Oklahoma

Statutes;

3. "Current beneficiary" with respect to a particular date,

means a person who is receiving or is eligible to receive a

distribution of income or principal from a trust on that date;

4. "First trust" means an existing irrevocable inter vivos or

testamentary trust all or part of the principal of which is

distributed in further trust under Section 3 or 4 of this act;

5. "Full discretion" means a power to distribute principal or

income to or for the benefit of one or more of the beneficiaries of

a trust that is not a trust with limited discretion;

6. "Limited discretion" means:

a. a power to distribute principal or income according to

mandatory distribution provisions under which the

trustee has no discretion, or

b. a power to distribute principal or income to or for

the benefit of one or more beneficiaries of a trust

that is limited by an ascertainable standard,

including the health, education, support or

maintenance of the beneficiary;

7. "Presumptive remainder beneficiary", with respect to a

particular date, means a beneficiary of a trust on that date who, in

Oklahoma Statutes - Title 60. Property Page 108

the absence of notice to the trustee of the exercise of the power of

appointment and assuming that any other powers of appointment under

the trust are not exercised, would be eligible to receive a

distribution from the trust if:

a. the trust terminated on that date, or

b. the interests of all current beneficiaries ended on

that date without causing the trust to terminate;

8. "Principal" means property held in trust for distribution

including accumulated income, that, at the time of the exercise of a

power of distribution under Section 3 or 4 of this act, is not

currently required to be distributed;

9. "Second trust" means any irrevocable trust to which

principal is distributed under Section 3 or 4 of this act; and

10. "Successor beneficiary" means a beneficiary other than a

current or presumptive remainder beneficiary. The term does not

include a potential appointee under a power of appointment held by a

beneficiary.
Okla. Stat. tit. 60, § 60-137 — OK Code / Title 60 / Section 60-137
Trust presumed, when
Status: in_force

When a transfer of real property is made to one person, and the

consideration therefor is paid by or for another, a trust is

presumed to result in favor of the person by or for whom such

payment is made.
Okla. Stat. tit. 60, § 60-44 — OK Code / Title 60 / Section 60-44
Termination of estate at will
Status: in_force

A tenancy or other estate at will, however created, may be

terminated by the landlord's giving notice to the tenant, in the

manner prescribed by the next section, to remove from the premises

within a period specified in the notice, of not less than one (1)

month except as provided in the chapter on "Landlord and Tenant."
Okla. Stat. tit. 60, § 60-175.715 — OK Code / Title 60 / Section 60-175.715
Duties not created
Status: in_force

DUTIES NOT CREATED

A. This act does not create or imply a duty for an authorized

trustee to exercise a power to distribute principal, and impropriety

shall not be inferred as a result of the trustee not exercising a

power conferred by Section 3 or 4 of this act.

B. An authorized trustee does not have a duty to inform

beneficiaries about the availability of the authority provided by

this act or a duty to review the trust to determine whether any

action should be taken under this act.
Okla. Stat. tit. 60, § 60-384 — OK Code / Title 60 / Section 60-384
Allotment of property to state institution, department or
Status: in_force

agency.

Any property involved in a gift, testamentary or otherwise,

given to the State of Oklahoma or some state officer, board,

commission, or agency for the use or benefit of a specified state

institution, department, or agency, whether one or more, when

accepted by the Governor, President Pro Tempore of the Senate,

Speaker of the House of Representatives or Chief Justice of the

Supreme Court, and delivered to the Office of Management and

Enterprise Services as provided for in Section 383 of this title,

shall be allotted by the Office of Management and Enterprise

Services to such state institution, department, or agency, in

accordance, as nearly as possible, with the terms of the gift.
Okla. Stat. tit. 60, § 60-175.19 — OK Code / Title 60 / Section 60-175.19
Torts of trustee - Exoneration or reimbursement
Status: in_force

A trustee who has incurred personal liability for a tort

committed in the administration of the trust is entitled to

exoneration therefor from the trust property;

A. If he has not discharged the claim, or to be reimbursed

therefor out of trust funds if he has paid the claim; if

1. The tort was a common incident of the kind of business

activity in which the trustee was properly engaged for the trust; or

2. Although the tort was not a common incident of such activity, if

neither the trustee nor any officer or employee of the trustee was

guilty of actionable negligence in incurring the liability.

B. If a trustee commits a tort which increases the value of the

trust property, he shall be entitled to exoneration or reimbursement

with respect thereto to the extent of such increase in value, even

though he would not otherwise be entitled to exoneration or

reimbursement.

Oklahoma Statutes - Title 60. Property Page 58

Where the trust instrument reserves to the trustor or vests in

an advisory or investment committee or any other person, including a

cotrustee, authority to direct the making or retention of

investments, the excluded trustee or trustees shall not be liable as

a trustee for any loss resulting from the making or retention of any

investment pursuant to such mandatory direction, except to the

extent the excluded trustee is negligent in carrying out the

execution of the directed investment or other directed action, and

nothing herein shall relieve any trustee having custody of any asset

from liability for exercising due diligence in the safekeeping

thereof.
Okla. Stat. tit. 60, § 60-175.711 — OK Code / Title 60 / Section 60-175.711
Divided discretion
Status: in_force

DIVIDED DISCRETION

If an authorized trustee has full discretion to distribute the

principal of a trust and another trustee has limited discretion to

distribute principal under the trust instrument, the authorized

trustee having full discretion may exercise the power to distribute

the trust's principal under Section 3 of this act.
Okla. Stat. tit. 60, § 60-811 — OK Code / Title 60 / Section 60-811
Joint development use plans
Status: in_force

A. The state and any of its political subdivisions, port

authorities and turnpike authorities may join, cooperate and

contract with other agencies or instrumentalities of federal, state

or local governments, or with private persons, corporations,

partnerships, business associations, fiduciaries or personal

representatives in and for the acquisition, condemnation, purchase,

lease, sale, assignment, mortgage or use of title, rights, interests

and estates in airspace. This power shall include, but shall not be

limited to, the joint development and multiple use of rights-of-way

and adjoining property or airspace. In furtherance of such

functions, the aforementioned entities and authorities shall have

the following powers:

1. To do all things necessary to develop and effectuate a joint

development and multiple use plan for an area which is to be

developed, including the coordination of such plan and cooperation

with all other affected agencies of federal, state or local

governments; to collect and distribute informational material

pertaining thereto; to cooperate and coordinate activities and

functions with interested or affected private persons, corporations,

partnerships, business associations, fiduciaries, personal

representatives or groups; to employ consultants, planners and

professional or advisory personnel or services; to contract with

federal, state, regional or local authorities or agencies, or with

private persons, corporations, partnerships, business associations

or other such organizations or associations for the preparation of

transportation and land use studies; and to contract for services,

labor, supplies, equipment or other items with governmental

authorities or private persons, corporations, partnerships, business

associations, fiduciaries, personal representatives or other persons

Oklahoma Statutes - Title 60. Property Page 246

as may be necessary to effectuate the joint development and multiple

use plan;

2. To apply for, accept, receive, spend and account for such

funds, grants, loans, gifts and services from federal, state,

regional or local governments or their instrumentalities or from

private persons or from other sources as may be needed to develop

and effectuate the joint development and multiple use plan; and to

provide and agree to such reasonable conditions and requirements as

may be necessary in connection therewith; and

3. To perform such other acts and enter into such contracts or

execute such other legal documents as may be necessary or

appropriate to develop, effectuate or execute the joint development

and multiple use plan.

B. The state and any of its political subdivisions, port

authorities and turnpike authorities may join with any other

federal, state, regional or local governmental authority in the

condemnation through exercise of the power of eminent domain of land

or airspace in excess of that necessary for the highway, road or

street right-of-way, whenever such excess condemnation is necessary

and appropriate to effectuate a joint development and multiple use

plan.
Okla. Stat. tit. 60, § 60-178 — OK Code / Title 60 / Section 60-178
Trustees - Appointment of succession, powers, duties,
Status: in_force

term, removal and compensation - Applicability to public trusts

created and existing prior to July 1, 1988.

A. The instrument or will creating such trust may provide for

the appointment, succession, powers, duties, term, manner of removal

and compensation of the trustee or trustees subject to the

provisions of subsections C and E of this section, and in all such

respects the terms of said instrument or will shall be controlling.

Trustees, who are public officers, shall serve without compensation,

but may be reimbursed for actual expenses incurred in the

performance of their duties as trustees. If the said instrument or

will makes no provisions in regard to any of the foregoing, then the

Oklahoma Statutes - Title 60. Property Page 130

general laws of the state shall control as to such omission or

omissions. Every person hereafter becoming a trustee of a public

trust first shall take the oath of office required of an elected

public officer and every officer and employee who handles funds of a

public trust shall furnish a good and sufficient fidelity bond in an

amount and with surety as may be specified and approved by the

persons constituting a majority of each of the governing bodies of

the beneficiaries of the trust, such bond to be in a surety company

authorized to transact surety business in the State of Oklahoma but

in no event shall any bond be required of a trustee. The cost of

said bond shall be paid from funds of the trust authority. The

oaths of office shall be administered by any person authorized to

administer oaths in the State of Oklahoma, and shall be filed with

the Secretary of State in trusts wherein the State of Oklahoma is

the beneficiary; in the office of the county clerk in a trust

wherein any county is beneficiary; and in the office of the clerk of

the municipality in a trust wherein any municipality is the

beneficiary.

B. Unless otherwise specified in another state law authorizing

the creation of a state-beneficiary public trust, any public trust

that hereafter names the State of Oklahoma as the beneficiary shall

have five (5) trustees appointed by the Governor of the State of

Oklahoma with the advice and consent of the Senate. The terms of

the trustees shall be as follows: of the trustees first appointed,

one member shall be appointed for a term of one (1) year; one member

shall be appointed for a term of two (2) years; one member shall be

appointed for a term of three (3) years; one member shall be

appointed for a term of four (4) years; and one member shall be

appointed for a term of five (5) years. At the expiration of the

term of each member and of each succeeding member, the Governor

shall appoint a successor who shall serve for a term of five (5)

years. Whenever a vacancy on such trust shall occur by death,

resignation or otherwise, the Governor shall fill the same by

appointment and the appointee shall hold office during the unexpired

term. Each member shall hold office until his successor has been

appointed and qualified.

C. Any instrument or will creating a trust which is not within

the scope of subsection B of this section shall provide for the

appointment of a minimum of three trustees, their succession,

powers, duties, term, manner of removal and compensation subject to

the provisions of subsection E of this section, and in all such

respects the terms of said instrument or will shall be controlling.

If the instrument or will makes no provision in regard to any of the

foregoing, then the general laws of the state shall control as to

the omissions.

D. Meetings of trustees of all public trusts shall be open to

the public to the same extent as is required by law for other public

Oklahoma Statutes - Title 60. Property Page 131

boards and commissions. Such meetings shall also be open to the

press and any such equipment deemed necessary by the press to record

or report the activities of the meetings. In such trusts wherein

the State of Oklahoma is the beneficiary, a written notice of

trustees' meetings shall be filed with the office of the Secretary

of State at least three (3) days prior to the meeting date. Records

of the trust and minutes of the trust meetings of any public trust

shall be written and kept in a place, the location of which shall be

recorded in the office of the county clerk of each county, wherein

the trust instrument shall be recorded. Such records and minutes

shall be available for inspection by any person during regular

business hours. Every trust created under Sections 176 et seq. of

this title shall file a monthly report of all expenditures of bond

proceeds with the governing body of each beneficiary and with the

Governor, the Speaker of the House of Representatives and the

President Pro Tempore of the Senate in the case of a public trust

having the State of Oklahoma as beneficiary.

E. Trustees of any public trust may be removed from office for

cause, including incompetency, neglect of duty, or malfeasance in

office, by a district court having jurisdiction. In the case of

persons appointed by the Governor, such persons shall be appointed

for terms not in excess of five (5) years, and shall be subject to

removal for cause. In the event of removal of a trustee under this

subsection, a successor trustee shall be appointed as provided in

the trust instrument. Provided, however, in the event a trustee is

so removed who is also a member of the governing board of a

municipal beneficiary, the successor trustee shall be appointed by

the judge of the court wherein the removal occurred; said successor

trustee shall serve only until the removed trustee ceases to serve

as a member of the governing board of the municipal beneficiary and

his successor on said board has qualified.

F. The provisions of this section shall be inapplicable to any

public trust created and existing prior to July 1, 1988, if the

instrument or will creating such public trust shall have been held

to be a valid and binding agreement in an opinion of the Supreme

Court of the State of Oklahoma; and nothing in this section shall

impair or be deemed to impair the trust indenture or existing or

future obligations of such public trust.
Okla. Stat. tit. 60, § 60-519 — OK Code / Title 60 / Section 60-519
Administration of property to be governed by bylaws
Status: in_force

A. The administration of every property shall be governed by

bylaws, a true copy of which shall be annexed to the declaration and

to the first deed of each unit. The bylaws may be detached from the

deed prior to recording if the bylaws are filed of record and

described on said deed by reference to book and page, or if the

grantee shall certify on the first deed that the bylaws were so

annexed and detached prior to recording.

Oklahoma Statutes - Title 60. Property Page 190

B. Any first deed to a unit prior to the effective date of this

act without a copy of the bylaws attached, shall be deemed to have

complied with the provisions of this section.
Okla. Stat. tit. 60, § 60-504 — OK Code / Title 60 / Section 60-504
Status and title created
Status: in_force

A unit ownership estate as created and defined in this act shall

vest in the holder, exclusive ownership and possession; shall

constitute an estate in real property which may be conveyed,

encumbered, inherited, devised, or otherwise dealt with consistent

with the laws of this state; and shall, for all purposes, be deemed

in law to be an estate entirely independent of the other unit

ownership estates in the building of which it forms a part. The

individual title and interest of such estate shall be recorded in

the manner provided by law for recording instruments affecting title

Oklahoma Statutes - Title 60. Property Page 184

to real property. Such estate may be held and owned by more than one

person, as defined herein, in any manner recognized under the laws

of this state.
Okla. Stat. tit. 60, § 60-175.50 — OK Code / Title 60 / Section 60-175.50
Repeals as reinstating common law rules
Status: in_force

Oklahoma Statutes - Title 60. Property Page 69

The repeal of any section of the statutory law of this state by

this act, which section abrogated or restated the common-law rule,

shall operate to reinstate and reestablish the common-law rule

applicable thereto, except as the subject matter thereof may be

changed by the provisions of this act.
Okla. Stat. tit. 60, § 60-175.713 — OK Code / Title 60 / Section 60-175.713
Other authority to distribute in further trust not
Status: in_force

limited.

OTHER AUTHORITY TO DISTRIBUTE IN FURTHER TRUST NOT LIMITED

This act shall not be construed to limit the power of an

authorized trustee to distribute property in further trust under the

terms of the governing instrument of a trust, other law, or a court

order.
Okla. Stat. tit. 60, § 60-175.61 — OK Code / Title 60 / Section 60-175.61
Prudent investor rule
Status: in_force

Prudent Investor Rule.

A. Except as otherwise provided in subsection B of this

section, a trustee who invests and manages trust assets owes a duty

to the beneficiaries of the trust to comply with the prudent

Oklahoma Statutes - Title 60. Property Page 75

investor rule set forth in the Oklahoma Uniform Prudent Investor

Act.

B. The prudent investor rule, a default rule, may be expanded,

restricted, eliminated, or otherwise altered by the provisions of a

trust. A trustee is not liable to a beneficiary to the extent that

the trustee acted in reasonable reliance on the provisions of the

trust.
Okla. Stat. tit. 60, § 60-1308 — OK Code / Title 60 / Section 60-1308
Qualified person — Resignation — Successor
Status: in_force

If a qualified person of a trust ceases to meet the requirements

of Section 22 of this act and there remains no trustee that meets

such requirements, such qualified person shall be deemed to have

resigned as of the time of such cessation, and thereupon the

successor qualified person provided for in the trust instrument

shall become a qualified person of the trust, or in the absence of

any successor qualified person provided for in the trust instrument,

the circuit court shall, upon application of any interested party,

appoint a successor qualified person.
Okla. Stat. tit. 60, § 60-312 — OK Code / Title 60 / Section 60-312
Thing in action
Status: in_force

Oklahoma Statutes - Title 60. Property Page 163

A thing in action is a right to recover money or other personal

property, by judicial proceedings.
Okla. Stat. tit. 60, § 60-524 — OK Code / Title 60 / Section 60-524
Liens for unpaid share of common expenses - Priorities -
Status: in_force

Enforcement.

(a) All sums assessed by the council of unit owners for the

share of the common expenses chargeable to any unit which sums

remain unpaid shall constitute a lien on such unit prior to all

other liens except the following:

1. Assessments, liens, and charges for taxes past due and

unpaid on the unit,

2. Judgments entered in a court of record prior to the date of

common expense assessment,

3. Mortgage instruments of encumbrance duly recorded prior to

the date of such assessment,

4. Mechanic's and materialmen's liens arising from labor

performed or materials furnished upon a unit prior to the date of

such assessment, and

5. Mechanic's and materialmen's liens for labor performed or

material furnished upon the common elements to the extent (sic) of

the proportionate part chargeable to the unit owners which

constitute a part of an assessable charge for common expenses

satisfaction of which shall discharge the assessment to the extent

of the payment made.

Oklahoma Statutes - Title 60. Property Page 192

(b) The assessment lien may be foreclosed by suit instituted by

the council of unit owners or a duly authorized agent thereof in

like manner as an action for foreclosure of a mortgage upon real

property. In any such foreclosure proceedings, the unit owner shall

be required to pay a reasonable rental for the use of his unit, if

so provided in the bylaws and the plaintiff in such foreclosure

shall be entitled to the appointment of a receiver to collect the

same. The council of unit owners, or their authorized agent, shall

have power, unless prohibited by the declaration, to bid in at the

foreclosure sale and to acquire and hold, lease, mortgage and convey

the unit ownership estate acquired at the foreclosure sale. Suit to

recover money judgment for unpaid common expenses shall be

maintainable without foreclosing or waiving the lien securing the

same.

(c) Upon sale or conveyance of a unit encumbered by an

assessment lien, such lien shall be paid first, out of the sale

proceeds or by the grantee, subject only as aforesaid.

(d) Where the holder of a first mortgage of record or other

purchaser obtains title to the unit ownership estate as a result of

foreclosure of the first mortgage, such acquirer of title shall not

be liable for the share of the common expenses or assessments by the

council of unit owners chargeable to such unit which became due

prior to acquisition of title to such unit by such acquirer. Such

unpaid share of common expenses or assessments shall be deemed to be

common expenses collectible from all the unit owners, including such

acquirer.
Okla. Stat. tit. 60, § 60-1604.3 — OK Code / Title 60 / Section 60-1604.3
Trusts created in other jurisdictions
Status: in_force

A trust not created by will is validly created if its creation

complies with the law of the jurisdiction in which the trust

instrument was executed, or the law of the jurisdiction in which, at

the time of creation:

1. The settlor was domiciled, had a place of abode, or was a

national;

2. A trustee was domiciled or had a place of business; or

3. Any trust property was located.
Okla. Stat. tit. 60, § 60-1608.12 — OK Code / Title 60 / Section 60-1608.12
Duty to inform and report
Status: in_force

A. A trustee shall keep the qualified beneficiaries of the

trust reasonably informed about the administration of the trust and

of the material facts necessary for them to protect their interests.

Unless unreasonable under the circumstances, a trustee shall

promptly respond to a beneficiary's request for information related

to the administration of the trust.

B. A trustee:

1. Upon request of a qualified beneficiary, shall promptly

furnish to the qualified beneficiary a copy of the trust instrument;

2. Within sixty (60) days after accepting a trusteeship, shall

notify the qualified beneficiaries of the acceptance and of the

trustee's name, address, and telephone number;

3. Within sixty (60) days after the date the trustee acquires

knowledge of the creation of an irrevocable trust, or the date the

trustee acquires knowledge that a formerly revocable trust has

become irrevocable, whether by the death of the settlor or

otherwise, shall notify the qualified beneficiaries of the trust's

existence, of the identity of the settlor or settlors, of the right

to request a copy of the trust instrument, and of the right to a

trustee's report as provided in subsection C of this section; and

Oklahoma Statutes - Title 60. Property Page 319

4. Shall notify the qualified beneficiaries in advance of any

change in the method or rate of the trustee's compensation.

C. A trustee shall send to the distributees or permissible

distributees of trust income or principal, and to other qualified

beneficiaries who request it, at least annually and at the

termination of the trust, a report of the trust property,

liabilities, receipts, and disbursements, including the source and

amount of the trustee's compensation, a listing of the trust assets

and, if feasible, their respective market values. Upon a vacancy in

a trusteeship, unless a co-trustee remains in office, a report must

be sent to the qualified beneficiaries by the former trustee. A

personal representative or guardian may send the qualified

beneficiaries a report on behalf of a deceased or incapacitated

trustee.

D. A beneficiary may waive the right to a trustee's report or

other information otherwise required to be furnished under this

section. A beneficiary, with respect to future reports and other

information, may withdraw a waiver previously given.

E. Paragraphs 2 and 3 of subsection B of this section do not

apply to a trustee who accepts a trusteeship before the effective

date of this act, to an irrevocable trust created before the

effective date of this act, or to a revocable trust that becomes

irrevocable before the effective date of this act.
Okla. Stat. tit. 60, § 60-852 — OK Code / Title 60 / Section 60-852
Owners association
Status: in_force

A. An "owners association" may be formed by the owner or owners

of real estate development for the purpose of:

1. providing management, maintenance, preservation and control

of commonly owned areas or any portion of or interest in them,

and/or

2. enforcing all mutual, common or reciprocal interests in or

restrictions upon all or portions of such separately owned lots,

parcels, or areas, or both.

B. An owners association shall be formed by the execution of an

instrument signed and acknowledged by all owners of the real

property included. Such instrument shall set forth in detail the

nature of the obligations of the members and shall be filed of

record in the office of the county clerk of the county wherein the

real property is located. The instrument shall include a

description of said real property.

C. The owners association shall have the power to enforce any

obligation in connection with membership in the owners association

by means of a levy or assessment which may become a lien upon the

separately or commonly owned lots, parcels or areas of defaulting

owners or members, which said lien may be foreclosed in any manner

provided by law for the foreclosure of mortgages or deeds of trust,

with or without a power of sale. In an action brought to enforce

any lien authorized pursuant to the provisions of this section, the

prevailing party shall be entitled to recover reasonable attorney's

fees to be fixed by the court, which shall be taxed as costs in the

action. No lien may be placed or mortgage foreclosed unless the

homeowner was informed in writing upon joining the owners

association of the existence and content of the owners association

restrictions and rules, and of the potential for financial liability

to the individual owner by joining said owners association.
Okla. Stat. tit. 60, § 60-757 — OK Code / Title 60 / Section 60-757
Spendthrift provisions - Binding effect of disclaimer -
Status: in_force

Spouse of disclaimant.

The right to disclaim granted by this act shall exist

irrespective of any limitation imposed on the interest of the

disclaimant in the nature of an express or implied spendthrift

provision or similar restriction. A disclaimer, when filed as

provided in this act, or a written waiver of the right to disclaim,

Oklahoma Statutes - Title 60. Property Page 242

shall be binding upon the disclaimant or beneficiary so waiving and

all parties thereafter claiming by, through or under him, except

that a beneficiary so waiving may thereafter transfer, assign or

release his interest if such is not prohibited by an express or

implied spendthrift provision. If an interest in real estate is

disclaimed and the disclaimer is duly filed in accordance with the

provisions of Section 4 of this act, the spouse of the disclaimant,

if such spouse has consented to the disclaimer in writing, shall

thereupon be automatically debarred from any claim, right or

interest in such real estate to which such spouse, except for such

disclaimer, would have been entitled.
Okla. Stat. tit. 60, § 60-702 — OK Code / Title 60 / Section 60-702
Request for account cards
Status: in_force

The Attorney General shall request from the Bureau of Accounts

of the United States Treasury Department records providing the

following information: the names of depositors at the post offices

of this state whose accounts are unclaimed, their last addresses as

shown by the records of the Post Office Department, and the balance

Oklahoma Statutes - Title 60. Property Page 238

in each account. He shall agree to return to the Bureau of Accounts

promptly all account cards showing last addresses in another state.
Okla. Stat. tit. 60, § 60-300.13 — OK Code / Title 60 / Section 60-300.13
Standard of conduct in managing and investing
Status: in_force

institutional fund.

STANDARD OF CONDUCT IN MANAGING AND INVESTING INSTITUTIONAL

FUND.

(a) Subject to the intent of a donor expressed in a gift

instrument, an institution, in managing and investing an

institutional fund, shall consider the charitable purposes of the

institution and the purposes of the institutional fund.

(b) In addition to complying with the duty of loyalty imposed

by law other than the Uniform Prudent Management of Institutional

Funds Act, each person responsible for managing and investing an

institutional fund shall manage and invest the fund in good faith

and with the care an ordinarily prudent person in a like position

would exercise under similar circumstances.

(c) In managing and investing an institutional fund, an

institution:

(1) may incur only costs that are appropriate and reasonable in

relation to the assets, the purposes of the institution, and the

skills available to the institution; and

(2) shall make a reasonable effort to verify facts relevant to

the management and investment of the fund.

(d) An institution may pool two or more institutional funds for

purposes of management and investment.

(e) Except as otherwise provided by a gift instrument, the

following rules apply:

(1) In managing and investing an institutional fund, the

following factors, if relevant, must be considered:

(A) general economic conditions;

(B) the possible effect of inflation or deflation;

(C) the expected tax consequences, if any, of investment

decisions or strategies;

(D) the role that each investment or course of action

plays within the overall investment portfolio of the

fund;

(E) the expected total return from income and the

appreciation of investments;

(F) other resources of the institution;

(G) the needs of the institution and the fund to make

distributions and to preserve capital; and

(H) an asset’s special relationship or special value, if

any, to the charitable purposes of the institution.

Oklahoma Statutes - Title 60. Property Page 149

(2) Management and investment decisions about an individual

asset must be made not in isolation but rather in the context of the

institutional fund’s portfolio of investments as a whole and as a

part of an overall investment strategy having risk and return

objectives reasonably suited to the fund and to the institution.

(3) Except as otherwise provided by law other than the Uniform

Prudent Management of Institutional Funds Act, an institution may

invest in any kind of property or type of investment consistent with

this section.

(4) An institution shall diversify the investments of an

institutional fund unless the institution reasonably determines

that, because of special circumstances, the purposes of the fund are

better served without diversification.

(5) Within a reasonable time after receiving property, an

institution shall make and carry out decisions concerning the

retention or disposition of the property or to rebalance a

portfolio, in order to bring the institutional fund into compliance

with the purposes, terms, and distribution requirements of the

institution as necessary to meet other circumstances of the

institution and the requirements of the Uniform Prudent Management

of Institutional Funds Act.

(6) A person that has special skills or expertise, or is

selected in reliance upon the person’s representation that the

person has special skills or expertise, has a duty to use those

skills or that expertise in managing and investing institutional

funds.
Okla. Stat. tit. 60, § 60-175.603 — OK Code / Title 60 / Section 60-175.603
Application of Section 175.409 of Title 60 to trusts -
Status: in_force

Particular dates.

TRANSITIONAL MATTERS

Section 175.409 of Title 60 of the Oklahoma Statutes applies to

a trust described in subsection D of Section 175.409 of Title 60 of

the Oklahoma Statutes on and after the following dates:

1. If the trust is not funded as of November 1, 2009, the date

of the decedent’s death;

Oklahoma Statutes - Title 60. Property Page 107

2. If the trust is initially funded in the calendar year

beginning January 1, 2009, the date of the decedent’s death; or

3. If the trust is not described in paragraph 1 or 2 of this

section, January 1, 2009.
Okla. Stat. tit. 60, § 60-36 — OK Code / Title 60 / Section 60-36
Certain limitations of estates void
Status: in_force

Successive estates for life cannot be limited, except to persons

in being at the creation thereof, and all life estates subsequent to

those of persons in being are void; and upon the death of those

persons, the remainder, if valid in its creation, takes effect in

the same manner as if no other life estate had been created.
Okla. Stat. tit. 60, § 60-314 — OK Code / Title 60 / Section 60-314
Trademarks
Status: in_force

One who produces or deals in a particular thing or conducts a

particular business, may appropriate to his exclusive use, as a

trademark, any form, symbol or name which has not been so

appropriated by another, to designate the origin or ownership

thereof; but he cannot exclusively appropriate any designation, or

part of a designation, which relates only to the name, quality, or

the description of the thing or business, or the place where the

thing is produced, or the business is carried on.
Okla. Stat. tit. 60, § 60-175.411 — OK Code / Title 60 / Section 60-175.411
Minerals, water, and other natural resources
Status: in_force

MINERALS, WATER, AND OTHER NATURAL RESOURCES

A. To the extent that a trustee accounts for receipts from an

interest in minerals or other natural resources pursuant to this

section, the trustee shall allocate them as follows:

1. If received as a bonus, delay rental or annual rent on a

lease, a receipt of less than One Thousand Dollars ($1,000.00) must

be allocated to income and a receipt of One Thousand Dollars

($1,000.00) or more must be allocated fifteen percent (15%) to

principal and eighty-five percent (85%) to income;

2. If received from a production payment, a receipt must be

allocated to income if and to the extent that the agreement creating

the production payment provides a factor for interest or its

equivalent. The balance must be allocated to principal;

Oklahoma Statutes - Title 60. Property Page 100

3. If received as a royalty, shut-in-well payment, or take-or-

pay payment, a receipt must be allocated fifteen percent (15%) to

principal and eighty-five percent (85%) to income;

4. If an amount is received from a working interest or any

other interest not provided for in paragraph 1, 2, or 3 of this

subsection, a receipt must be allocated fifteen percent (15%) to

principal and eighty-five percent (85%) to income.

B. An amount received on account of an interest in water that

is renewable must be allocated to income. If the water is not

renewable, ninety percent (90%) of the amount must be allocated to

principal and the balance to income.

C. This act applies whether or not a decedent or donor was

extracting minerals, water, or other natural resources before the

interest became subject to the trust.

D. If a trust exists on the effective date of this act, the

trustee may allocate receipts from an interest in minerals, water,

or other natural resources as provided in this act or in the manner

used by the trustee before the effective date of this act. For

every trust created after the effective date of this act, the

trustee shall allocate receipts from an interest in minerals, water,

or other natural resources as provided in this act. If and to the

extent that the terms of a trust expressly provide for a different

allocation of receipts or grants the trustee discretionary authority

to determine the amount of the allocation, this act shall not apply

to those receipts.
Okla. Stat. tit. 60, § 60-526 — OK Code / Title 60 / Section 60-526
Insurance
Status: in_force

The unit owners may, upon resolution of a majority, insure the

property against risks, without prejudice to the right of each unit

owner to insure his unit on his own account and for his own benefit.

The premiums for such insurance on the property shall be deemed

Oklahoma Statutes - Title 60. Property Page 193

common expenses except with respect to the units exempted by the

declarant pursuant to subsection (b) of Section 512 of this title in

which event the insurance premiums on such units shall be paid by

the declarant as provided in subsection (b) of Section 512 of this

title. The declarant and the council of unit owners may agree by

separate contract to insure the unconstructed buildings and/or units

under the same master policy of insurance as the council of unit

owners may have obtained for the property, as their respective

interests may appear, in which event the portion of the premiums

charged for insuring said unconstructed buildings and/or

unconstructed units shall be borne by the declarant.
Okla. Stat. tit. 60, § 60-175.4 — OK Code / Title 60 / Section 60-175.4
Legal estate of person in possession and entitled to
Status: in_force

rents and profits.

Every person who, by virtue of any transfer or devise, is

entitled to the actual possession of real property, and the receipts

of the rents and profits thereof, is deemed to have a legal estate

therein, of the same quality and duration, and subject to the same

conditions as his beneficial interest.
Okla. Stat. tit. 60, § 60-175.39 — OK Code / Title 60 / Section 60-175.39
Removal of trustee - Filling vacancies
Status: in_force

Trustees having violated or attempted to violate any express

trust, or becoming incompetent or insolvent, or of whose solvency or

that of their sureties there is reasonable doubt, or for other

cause, in the discretion of the court having jurisdiction, may, on

petition of any person interested, after hearing, be removed by such

court and denied compensation in whole or in part; and any

beneficiary, cotrustee, or successor may treat the violation as a

breach of trust; and all vacancies in express trusteeships may be

filled by such court.
Okla. Stat. tit. 60, § 60-38 — OK Code / Title 60 / Section 60-38
Contingent remainder on term of years
Status: in_force

A contingent remainder cannot be created on a term of years,

unless the nature of the contingency on which it is limited is such

that the remainder must vest an interest during the continuance or

at the termination of lives in being at the creation of such

remainder.
Okla. Stat. tit. 60, § 60-299.10 — OK Code / Title 60 / Section 60-299.10
Transfer by deed or will - Property conveyed
Status: in_force

When the donee of a power of appointment makes a deed or a will

purporting to transfer all of his property, the property covered by

the power shall be included in such transfer unless it is shown that

the donee did not so intend.
Okla. Stat. tit. 60, § 60-1103 — OK Code / Title 60 / Section 60-1103
Unconstitutional
Status: in_force

NOTE: This section was held unconstitutional by the Oklahoma

Supreme Court in the case of Weddington v. Henry, 202 P.3d 143, 2008

OK 102 (2009).
Okla. Stat. tit. 60, § 60-47 — OK Code / Title 60 / Section 60-47
Reentry, notice of
Status: in_force

Whenever the right of reentry is given to a grantor or lessor in

any grant or lease, or otherwise, such reentry may be made at any

time after the right has accrued upon three (3) days' previous

written notice of intention to reenter, served in the mode

prescribed by Section 6619.
Okla. Stat. tit. 60, § 60-683.1 — OK Code / Title 60 / Section 60-683.1
Exchange of information with other states - Reports –
Status: in_force

Continuation of agreements - Joint enforcement of act.

A. The State Treasurer may enter into agreements with other

states to exchange information needed to enable this or another

state to audit or otherwise determine unclaimed personal property

that it or another state may be entitled to subject to a claim of

custody. The State Treasurer by rule may require the reporting of

information needed to enable compliance with agreements made under

this section and prescribe the form. Any agreements entered into by

the Oklahoma Tax Commission which are in effect on the date the

responsibilities of the Uniform Unclaimed Property Act are

transferred to the State Treasurer shall be effective agreements of

the State Treasurer until such time as the State Treasurer chooses

to amend, repeal or modify them. All powers and duties of the

Oklahoma Tax Commission or references to the Oklahoma Tax Commission

Oklahoma Statutes - Title 60. Property Page 234

within such rules shall be deemed to be powers and duties of the

State Treasurer or references to the State Treasurer.

B. To avoid conflicts between the procedures in effect in this

state and the procedures in other jurisdictions that enact the

Uniform Unclaimed Property Act, the State Treasurer, so far as it is

consistent with the purposes, policies, and provisions of the

Uniform Unclaimed Property Act, before promulgating, amending, or

repealing rules, shall advise and consult with administrators in

other jurisdictions that enact substantially the Uniform Unclaimed

Property Act and take into consideration the rules of administrators

in other jurisdictions that enact the Uniform Unclaimed Property

Act.

C. The State Treasurer may join with other states to seek

enforcement of the Uniform Unclaimed Property Act against any person

who is or may be holding property reportable under the Uniform

Unclaimed Property Act.

D. At the request of another state, the Attorney General of

this state may bring an action in the name of the other state in any

court of competent jurisdiction to enforce the unclaimed property

laws of the other state against a holder in this state of property

subject to escheat or a claim of abandonment by the other state, if

the other state has agreed to pay expenses incurred by the Attorney

General in bringing the action.

E. The State Treasurer may request that the Attorney General of

another state or any other person bring an action to enforce the

Uniform Unclaimed Property Act in the other state. This state shall

pay all expenses including attorney fees in an action under this

subsection. The State Treasurer may agree to pay the person

bringing the action attorney fees based in whole or in part on a

percentage of the value of property recovered in the action. Any

expenses paid pursuant to this subsection may not be deducted from

the amount that is subject to a claim by the owner under the Uniform

Unclaimed Property Act.
Okla. Stat. tit. 60, § 60-175.703 — OK Code / Title 60 / Section 60-175.703
Distribution to second trust - Trustee with full
Status: in_force

discretion.

DISTRIBUTION TO SECOND TRUST: TRUSTEE WITH FULL DISCRETION

A. An authorized trustee who has the full discretion to

distribute the principal or income of a trust may distribute all or

part of the principal of that trust in favor of a trustee of a

second trust for the benefit of one, more than one or all of the

current beneficiaries of the first trust and for the benefit of one,

more than one or all of the successor or presumptive remainder

beneficiaries of the first trust.

B. The authorized trustee may, in connection with the exercise

of a power of distribution under this section, grant a power of

appointment including a currently exercisable power of appointment,

in the second trust to one or more of the current beneficiaries of

the first trust who, at the time the power of appointment is

granted, is eligible to receive a distribution of principal under

the terms of the first trust.

C. If the authorized trustee grants a power of appointment to a

beneficiary under subsection B of this section, the class of

permissible appointees in whose favor the beneficiary may appoint

under that power may be broader or different than the current,

successor, and presumptive remainder beneficiaries of the first

trust.

D. If the beneficiaries of the first trust are described as a

class of persons, the beneficiaries of the second trust may include

one or more persons who become members of that class after the

distribution to the second trust.

Oklahoma Statutes - Title 60. Property Page 109

E. The authorized trustee shall exercise a power to distribute

under this section in good faith, in accordance with the terms and

purposes of the trust, and in the interests of the beneficiaries.
Okla. Stat. tit. 60, § 60-299.1 — OK Code / Title 60 / Section 60-299.1
Common law
Status: in_force

The common law of powers is hereby declared to be the law in

this state, except as modified by statute.
Okla. Stat. tit. 60, § 60-1514 — OK Code / Title 60 / Section 60-1514
Application — Effective date of act
Status: in_force

This act applies to an easement created before, on, or after the

effective date of this act.
Okla. Stat. tit. 60, § 60-654 — OK Code / Title 60 / Section 60-654
Deposit held by utility
Status: in_force

Oklahoma Statutes - Title 60. Property Page 205

A deposit, including any interest thereon, made by a subscriber

with a utility to secure payment or any sum paid in advance for

utility services to be furnished, less any lawful deductions, that

remains unclaimed by the owner for more than one (1) year after

termination of the services for which the deposit or advance payment

was made is presumed abandoned.
Okla. Stat. tit. 60, § 60-1202 — OK Code / Title 60 / Section 60-1202
Definitions
Status: in_force

As used in the Oklahoma Uniform Directed Trust Act of 2024:

1. "Breach of trust" means a violation by a trust director or

trustee of a duty imposed on that director or trustee by the terms

of the trust, this act, or laws of this state other than this act

pertaining to trusts;

2. "Directed trust" means a trust for which the terms of the

trust grant a power of direction;

3. "Directed trustee" means a trustee that is subject to a

trust director's power of direction;

4. "Person" means an individual, estate, business or nonprofit

entity, public corporation, government or governmental subdivision,

agency, or instrumentality, or other legal entity;

5. "Power of direction" means a power over a trust granted to a

person by the terms of the trust to the extent the power is

exercisable while the person is not serving as a trustee. The term

includes a power over the investment, management, or distribution of

trust property or other matters of trust administration. The term

excludes the powers described in subsection B of Section 6 of this

act;

6. "Settlor" means a person, including a testator, that creates

or contributes property to a trust. If more than one person creates

or contributes property to a trust, each person is a settlor of the

portion of the trust property attributable to that person's

contribution except to the extent another person has the power to

revoke or withdraw that portion;

7. "State" means a state of the United States, the District of

Columbia, Puerto Rico, the United States Virgin Islands, or any

other territory or possession subject to the jurisdiction of the

United States;

8. "Terms of a trust" means:

a. except as otherwise provided in subparagraph b of this

paragraph, the manifestation of the settlor's intent

regarding a trust's provisions as:

(1) expressed in the trust instrument, or

(2) established by other evidence that would be

admissible in a judicial proceeding, or

Oklahoma Statutes - Title 60. Property Page 269

b. the trust's provisions as established, determined, or

amended by:

(1) a trustee or trust director in accordance with

applicable law, or

(2) a court order;

9. "Trust director" means a person that is granted a power of

direction by the terms of a trust to the extent the power is

exercisable while the person is not serving as a trustee. The

person is a trust director whether or not the terms of the trust

refer to the person as a trust director and whether or not the

person is a beneficiary or settlor of the trust; and

10. "Trustee" means an original, additional, and successor

trustee, and a cotrustee.
Okla. Stat. tit. 60, § 60-341 — OK Code / Title 60 / Section 60-341
Things inseparably united
Status: in_force

When things belonging to different owners have been united so as

to form a single thing, and cannot be separated without injury, the

whole belongs to the owner of the thing which forms the principal

part, who must, however, reimburse the value of the residue to the

other owner, or surrender the whole to him.
Okla. Stat. tit. 60, § 60-684.1 — OK Code / Title 60 / Section 60-684.1
Recovery of property by another state
Status: in_force

A. At any time after personal property has been paid or

delivered to the State Treasurer under the Uniform Unclaimed

Property Act, another state may recover the property if:

1. The property was subjected to custody by this state because

the records of the holder did not reflect the last-known address of

the apparent owner when the property was presumed abandoned under

the Uniform Unclaimed Property Act, and the other state establishes

that the last-known address of the apparent owner or other person

entitled to the property was in that state and under the laws of

that state the property escheated to or was subject to a claim of

abandonment by that state;

2. The last-known address of the apparent owner or other person

entitled to the property, as reflected by the records of the holder,

is in the other state and under the laws of that state the property

has escheated to or become subject to a claim of abandonment by that

state;

3. The records of the holder were erroneous in that they did

not accurately reflect the actual owner of the property and the

last-known address of the actual owner is in the other state and

under the laws of that state the property escheated to or was

subject to a claim of abandonment by that state;

4. The property was subjected to custody by this state under

subsection (f) of Section 659 of this title and under the laws of

the state of domicile of the holder the property has escheated to or

become subject to a claim of abandonment by that state; or

5. The property is the sum payable on a travelers check, money

order, or other similar instrument that was subjected to custody by

this state under Section 651.2 of this title, and the instrument was

purchased in the other state, and under the laws of that state the

property escheated to or became subject to a claim of abandonment by

that state.

B. The claim of another state to recover escheated or abandoned

property must be presented in a form prescribed by the State

Treasurer, which shall decide the claim within ninety (90) days

Oklahoma Statutes - Title 60. Property Page 236

after it is presented. The State Treasurer shall allow the claim if

the State Treasurer determines that the other state is entitled to

the abandoned property under subsection A of this section.

C. The State Treasurer shall require a state, before recovering

property under this section, to agree to indemnify this state and

its officers and employees against liability on a claim for the

property.
Okla. Stat. tit. 60, § 60-175.718 — OK Code / Title 60 / Section 60-175.718
Tax-related limitations
Status: in_force

TAX-RELATED LIMITATIONS

A. The authorized trustee shall not distribute the principal of

a trust under Section 3 or 4 of this act in a manner that would

prevent a contribution to that trust from qualifying for or that

Oklahoma Statutes - Title 60. Property Page 116

would reduce the exclusion, deduction or other federal tax benefit

that was originally claimed for that contribution, including:

1. The annual exclusion under Section 2503(b) of the Internal

Revenue Code of 1986, as amended;

2. A marital deduction under Section 2056(a) or 2523(a) of the

Internal Revenue Code of 1986, as amended;

3. The charitable deduction under Section 170(a), 642(c),

2055(a), or 2522(a) of the Internal Revenue Code of 1986, as

amended;

4. Direct skip treatment under Section 2642(c) of the Internal

Revenue Code of 1986, as amended; or

5. Any other tax benefit for income, gift, estate, or

generation-skipping transfer tax purposes under the Internal Revenue

Code of 1986, as amended.

B. Notwithstanding subsection A of this section, an authorized

trustee may distribute the principal of a first trust to a second

trust regardless of whether the settlor is treated as the owner of

either or both trusts under the Internal Revenue Code, 26 U.S.C.,

Sections 671 through 679, as amended.

C. If S corporation stock is held in trust, an authorized

trustee shall not distribute all or part of that stock under Section

3 or 4 of this act to a second trust that is not a permitted

shareholder under the Internal Revenue Code, 26 U.S.C., Section

1361(c)(2), as amended.

D. If an interest in property that is subject to the minimum

distribution rules of the Internal Revenue Code, 26 U.S.C., Section

401(a)(9), as amended, is held in trust, an authorized trustee shall

not distribute the trust's interest in the property to a second

trust under Section 3 or 4 of this act if the distribution would

shorten the minimum distribution period applicable to the property.
Okla. Stat. tit. 60, § 60-299.12 — OK Code / Title 60 / Section 60-299.12
Suspension of right of alienation - Computation of
Status: in_force

time.

The period during which the absolute right of alienation may be

suspended by any instrument in execution of a power shall be

computed from the time of the creation of the power and not from the

date of the instrument. However, in the case of a general power

presently exercisable, the period shall be computed from the date of

the instrument.
Okla. Stat. tit. 60, § 60-671 — OK Code / Title 60 / Section 60-671
Insufficiency of reserve
Status: in_force

If, at any time, the reserve as provided for in the Uniform

Unclaimed Property Act is insufficient to pay in full established

claims, the State Treasurer immediately shall:

1. Redetermine, on the basis of past experience, the percentage

necessary to be maintained in the reserve; and

2. Cease to make any payments to the General Revenue Fund

until:

a. all validly established claims as provided for in the

Uniform Unclaimed Property Act have been paid, and

b. there is accumulated in the reserve the sum required

to be kept therein under the redetermination,

whereupon the State Treasurer shall resume payments to

the General Revenue Fund in accordance with the terms

of the Uniform Unclaimed Property Act.
Okla. Stat. tit. 60, § 60-1606.3 — OK Code / Title 60 / Section 60-1606.3
Limitation on action contesting validity of revocable trust — Distribution of trust
Status: in_force

Oklahoma Statutes - Title 60. Property Page 14trust — Distribution of trust property.

A. A person may commence a judicial proceeding to contest the

validity of a trust that was revocable at the settlor's death within

three (3) years after the later of either the settlor's death or

actual or constructive notice of the existence and terms of the

trust.

B. Upon the death of the settlor of a trust that was revocable

at the settlor's death, the trustee may proceed to distribute the

trust property in accordance with the terms of the trust. The

trustee is not subject to liability for doing so unless:

1. The trustee knows of a pending judicial proceeding

contesting the validity of the trust;

2. The trustee knows of claims, costs, expenses, or allowances

that would be payable from the trust pursuant to paragraph 2 of

subsection A of Section 36 of this act; or

3. A potential contestant has notified the trustee of a

possible judicial proceeding to contest the trust and a judicial

proceeding is commenced within sixty (60) days after the contestant

sent the notification.

C. A beneficiary of a trust that is determined to have been

invalid or which is subject to claims, costs, expenses, or

allowances under paragraph 2 of subsection B of this section is

liable to return any distribution received.

ARTICLE 7

OFFICE OF TRUSTEE
Okla. Stat. tit. 60, § 60-522 — OK Code / Title 60 / Section 60-522
Homestead exemptions applicable
Status: in_force

Oklahoma Statutes - Title 60. Property Page 191

The laws relating to homestead exemption from taxes by a

political subdivision of this state and the laws relative to

homestead exemption from attachment, execution, or other forced sale

shall be applicable to a unit ownership estate with the same force

and effect as they are now or shall hereafter be applicable to other

estate in real property; and the benefit of homestead exemption

shall extend to the holder of a unit ownership estate in all those

cases where the owner of a single family dwelling would qualify

therefor. The title holder in a unit ownership estate shall be

entitled, if otherwise qualified, to a homestead exemption from ad

valorem tax, if the land upon which the building is located is held

in fee simple.
Okla. Stat. tit. 60, § 60-1607.7 — OK Code / Title 60 / Section 60-1607.7
Delivery of property by former trustee
Status: in_force

A. Unless a co-trustee remains in office or the court otherwise

orders, and until the trust property is delivered to a successor

trustee or other person entitled to it, a trustee who has resigned

or been removed has the duties of a trustee and the powers necessary

to protect the trust property.

B. A trustee who has resigned or been removed shall proceed

expeditiously to deliver the trust property within the trustee's

possession to the co-trustee, successor trustee, or other person

entitled to it.