Escrow & Title
A property in Oklahoma City carries an unrecorded lease. A buyer who purchases without actual knowledge of the lease takes title:
AClear of the lease because it was not recorded
BSubject to the lease because the tenant's possession provides constructive notice even without recording✓ Correct
CWithout obligation to honor the lease for any reason
DSubject to the lease only if the tenant paid rent in the last 30 days
Explanation
In Oklahoma, a tenant in open possession of a property provides constructive notice to all subsequent purchasers, even if the lease is unrecorded. A buyer who fails to inquire about the rights of parties in possession takes subject to those rights.
Related Oklahoma Escrow & Title Questions
- In Oklahoma, 'abstract of title' is a document that:
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- In an Oklahoma closing, prorations are calculated to ensure that:
- A title commitment (title binder) issued by a title company serves as:
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