Oklahoma Land Contract Template

Updated June 18, 2022

An Oklahoma land contract contains terms and conditions surrounding a vacant land or lot transaction between the property’s seller, or a broker in some cases, and the purchaser. The contract establishes the parties involved in the ownership transfer as well as the financial terms set by said parties, such as the agreed-upon purchase price. The land/lot descriptors should also be reported on the document using the legal description as it appears on the deed. Upon drafting the agreement and reaching an accord, the parties shall sign the contract into effect. Any exchange of funds due at signing or the formal deed transfer must occur on the closing date stipulated on the document.

Acknowledgment and Confirmation of Disclosures – Though not a requirement in a land contract transaction, the parties may utilize this statement as an acknowledgment of the property’s exemption under the Residential Property Condition Disclosure Act. Doing so further protects the legal liability of both the seller and buyer.

Where to Record? (16 OK Stat § 16-39a) – Deeds are to be filed in the respective County Clerk’s Office where the property is situated.