Okla. Admin. Code § 385:30-1-9

Current through Vol. 42, No. 4, November 1, 2024

Section 385:30-1-9 - Certificates of purchase; transfer

(a)Certificate of purchase. If purchaser finances the land purchase through the Commissioners of the Land Office by terms in the Notice of Sale, the state will have a first lien upon the lands sold and the purchaser will be issued a Certificate of Purchase. When all payments are made the Commissioners shall execute to the purchaser a Patent.

(b)Transfers. Any purchaser of trust lands may transfer the interest in the real property under a Certificate of Purchase and upon approval of the Commissioners a new Certificate of Purchase will be issued to the transferee.

(c)Default. In case of default the Certificate of Purchase will be canceled by the Commissioners.

(d)Fencing. Purchaser will be responsible for fencing the tract of land from any adjacent lands administered by the Commissioners of the Land Office and will be responsible for all damages or claims for damages arising out of purchasers failure to install and maintain such fence.

(e)Taxes. Trust property purchased under a Certificate of Purchase shall be assessed ad valorem taxes as against other privately owned lands. The Commissioners must have a statement from the county treasurer that all ad valorem taxes are paid before a transfer of Certificate of Purchase can be approved or Patent issued.

(f)Validity. A conveyance or assignment of any interest, entire or lesser, in the Certificate, shall have no validity as against the State or Commissioners of the Land Office unless such instrument is duly filed in the permanent records of the Commissioners of the Land Office.

Okla. Admin. Code § 385:30-1-9

Amended at 16 Ok Reg 1459, eff 5-27-99; Amended at 29 Ok Reg 1310, eff 6-25-12