Property Ownership
In Oklahoma, a trustee's deed is used to convey property that:
AIs owned by an individual trustee in their personal capacity
BIs held in trust by a trustee for the benefit of beneficiaries; it conveys the trustee's interest in the trust property✓ Correct
CHas been condemned by the city
DIs transferred as part of a 1031 exchange only
Explanation
A trustee's deed is used when property held in trust is conveyed. The grantor is named as 'Trustee of [Trust Name]' rather than in their individual capacity. This conveys the trust's interest in the property to the grantee.
Related Oklahoma Property Ownership Questions
- In Oklahoma, a real estate licensee who receives property as payment for services must:
- In Oklahoma, adverse possession requires the claimant to occupy the property:
- An easement appurtenant benefits:
- Adverse possession in Oklahoma requires use that is open, hostile, actual, exclusive, and continuous for a period of:
- Two unmarried individuals own a property together with equal shares and the right of survivorship. This form of ownership is called:
- Oklahoma's Condominium Ownership Act governs the creation and operation of condominiums. Under this Act, the 'common elements' are owned by:
- Oklahoma tribal trust lands are unique because:
- An Oklahoma property owner who wants to exclude adjacent landowners from an established path across their property that has been used informally for years should:
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