Property Ownership
In Oklahoma, a property owner can voluntarily encumber their property with a covenant running with the land to ensure future owners maintain certain standards. For such a covenant to run with the land, it must:
ABe registered with OREC
BRelate to the use of the land, be intended by the original parties to bind future owners, and 'touch and concern' the land — and must be recorded in the public record to provide constructive notice✓ Correct
CBe agreed to by all neighboring property owners
DExpire after 50 years automatically
Explanation
For a covenant to run with the land in Oklahoma, it must: (1) touch and concern the land (relate to its use), (2) have been intended to bind successors, (3) involve privity between the original parties, and (4) be recorded to provide notice. CC&Rs in subdivisions are common examples.
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Key Terms to Know
Abstract of Title
A condensed history of a property's title, summarizing all recorded documents and encumbrances affecting it from the earliest record to the present.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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