Escrow & Title
An Oklahoma condominium project's Declaration of Condominium must be filed with the county clerk and also with:
AOREC for approval
BThe Oklahoma Real Estate Commission is not the filing entity; declarations are recorded with the county clerk under the Condominium Ownership Act, making them part of the public record for the project✓ Correct
CThe Oklahoma Department of Commerce
DThe Federal Housing Administration
Explanation
Condominium declarations in Oklahoma are recorded with the county clerk pursuant to the Oklahoma Condominium Ownership Act. Recording makes the declaration part of the chain of title, providing constructive notice of the condominium structure and its restrictions to all buyers.
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Key Terms to Know
Chain of Title
The sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Abstract of TitleA condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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