A. Any person at least eighteen (18) years of age, being otherwise qualified thereto, and all persons upon whom the rights of majority have been conferred, and any legal entity, may own and transfer real property. Provided, that any persons of whatsoever age, who have been legally married and who are otherwise qualified, may own and transfer real property acquired after marriage.
B. A transfer of real property may be made to, and title taken in, the name of a legal entity or of an office, in which case the title vests in the entity or the person from time to time holding the office.
C. As used in this section, "entity" or "legal entity" means a corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, joint venture, an unincorporated association formed for the purposes authorized by the Interlocal Cooperation Act in Section 1003 of Title 74 of the Oklahoma Statutes or any other entity otherwise authorized by statute to hold title to real property.
D. Unless otherwise provided by statute, a defunct or dissolved entity continues in existence for the purpose of transferring real property.
R.L. 1910, § 1140. Amended by Laws 1972, c. 221, § 5, eff. Aug. 1, 1972; Laws 1995, c. 232, § 2, eff. Nov. 1, 1995.
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