SB 877: Deed regulation; real estate licensing; requiring certain continuing education course; requiring certain notification to buyer. Effective date. - Oklahoma

Floor (House) → Floor (Senate) · 5 edits

MODERATE

The Senate version of SB 877 adds a new felony charge for 'deed theft' with up to 2 years imprisonment and/or a $5,000 fine, reorganizes the bill structure, and updates the definition of deed theft to include misrepresentation of ownership. The Senate version also changes the effective date for deed theft continuing education requirements from November 1, 2028 to November 1, 2028, and adds new definitions for 'party' and 'transaction' to clarify real estate terminology.

Scope change

The bill now includes a new criminal penalty section for deed theft that was not in the House version, and expands definitions to include 'party' and 'transaction' in the real estate license code.

ENFORCEMENT

Added new felony charge for deed theft with up to 2 years imprisonment and/or $5,000 fine

DEFINITION

Expanded deed theft definition to include misrepresenting oneself as property owner or authorized representative

Added new definitions for 'party' (seller, buyer, landlord, tenant, or option/exchange participant) and 'transaction' (buy, sell, lease, rent, option, or exchange activities)

REQUIREMENT

Changed continuing education deadline from November 1, 2028 to November 1, 2028 (no substantive change, but reorganized)

TECHNICAL

Reorganized bill structure from House format to Senate format with different section numbering and formatting

SB877 (3-11-25) (BULLARD) FS FA1.PDF → Floor (House) · 5 edits

MODERATE

The bill was converted from a Senate floor substitute to a House floor version with substantive amendments to real estate licensing requirements. Key changes include expanding the list of statutes amended to add Section 858-353, modifying deed theft definitions to be broader, and adding new requirements for written memorials of services and renewal procedures. The effective date remains November 1, 2025.

Scope change

The bill now references an additional statute (Section 858-353) and expands the definition of deed theft to include a wider range of fraudulent activities related to real property documents.

DEFINITION

Deed theft definition was broadened from specific property document alterations to include any document relating to real property with intent to deceive or defraud

REQUIREMENT

New requirement for written memorial of certain services and prescribing content requirements related to renewal

Continuing education requirements now include deed theft prevention courses that must be completed by November 1, 2028

STATUTES

Added Section 858-353 to the list of amended statutes, expanding the scope of the bill

TECHNICAL

Changed document title from 'FLOOR SUBSTITUTE' to 'COMMITTEE SUBSTITUTE FOR ENGROSSED SENATE BILL' indicating House floor processing

House Committee Substitute for Senate Bill → SB877 (3-11-25) (BULLARD) FS FA1.PDF · 7 edits

MODERATE

This bill updates Oklahoma's real estate continuing education requirements and adds a new definition for deed theft. It removes the requirement for continuing education in Section 858-353, which was previously amended by a 2024 law, and clarifies that deed theft education must be completed by November 1, 2028. The bill also updates definitions related to real estate transactions and deed theft.

Scope change

The bill narrows the scope of continuing education requirements by removing the Section 858-353 amendment and adds specific requirements for deed theft education.

REQUIREMENT

Removed the requirement to amend Section 858-353 by Section 1, Chapter 326, O.S.L. 2024, which previously related to real estate licensing.

Added a requirement that licensees complete continuing education on deed theft by November 1, 2028.

Added a new Section 3 requiring licensed real estate brokers to notify buyers of deed theft signs and risks during transaction closing, with buyer confirmation via signature.

DEFINITION

Updated the definition of 'Deed theft' in Section 858-351 to include specific actions like intentionally altering property documents, misrepresenting oneself as an owner, and transferring title by fraud.

Added a new definition for 'Transaction' to include activities like soliciting, advertising, showing, presenting offers, and closing real estate agreements.

Added a new definition for 'Party' to include sellers, buyers, landlords, tenants, and persons involved in options or exchanges.

Added a new definition for 'Firm' to include sole proprietorships, corporations, associations, and partnerships.

Proposed Policy Committee Substitute 2 → House Committee Substitute for Senate Bill · 5 edits

MODERATE

This bill amends Oklahoma real estate licensing laws to require continuing education on deed theft prevention, update legal definitions, and mandate buyer notification about deed theft risks at closing. The changes expand regulatory oversight to protect consumers from real estate fraud.

Scope change

The bill applies to all real estate licensees in Oklahoma except those with inactive licenses, provisional sales associate licenses, nonresident licensees with current out-of-state licenses, and corporate entities.

REQUIREMENT

Added requirement for licensees to complete continuing education courses on deed theft prevention by November 1, 2028

Added requirement that licensed brokers must notify buyers of deed theft signs and risks at closing, with buyer confirmation required

DEFINITION

Updated and clarified definitions of 'Broker', 'Brokerage services', 'Deed theft', 'Firm', 'Party', and 'Transaction' to better address fraud prevention

ENFORCEMENT

Added requirement for Oklahoma Real Estate Commission to maintain a list of approved continuing education courses and enforce compliance

ELIGIBILITY

Modified exemptions to clarify that continuing education requirements do not apply to inactive licenses, provisional sales associates, certain nonresident licensees, and corporate entities

Proposed Policy Committee Substitute 1 → Proposed Policy Committee Substitute 2 · 2 edits

MINOR

The bill was re-submitted with a minor revision to the definition of 'Firm' in the real estate regulations, expanding the list of business structures included. The document number was also updated from 13410 to 13477, indicating a new version of the bill.

Scope change

The scope of the bill remains focused on Oklahoma real estate licensing and continuing education requirements, with no substantive changes to applicability.

DEFINITION

The definition of 'Firm' was expanded to explicitly include 'sole proprietor, corporation, association or partnership' in a more structured format, clarifying which business entities fall under the regulation.

TECHNICAL

The bill reference number was updated from Req. No. 13410 to Req. No. 13477 across multiple pages, indicating a new version of the legislative document.

Enrolled (final version) → Proposed Policy Committee Substitute 1 · 5 edits

MODERATE

This bill was amended to update its scope and statutory references, add a new requirement for written memorials of certain services, and refine the definition of deed theft to specifically include residential and commercial property documents. The amendment also adds 858-353 to the list of amended sections and updates the effective date language.

Scope change

The bill now explicitly references Section 858-353 (as amended by 2024 legislation) and expands the scope of deed theft definitions to cover both residential and commercial property documents.

REQUIREMENT

Added a new requirement for the Oklahoma Real Estate Commission to require written memorials of certain services with prescribed content.

DEFINITION

Updated the definition of deed theft to specifically mention residential or commercial property documents such as deeds or titles.

SCOPE

Added Section 858-353 to the list of statutes being amended by this bill.

TECHNICAL

Changed the effective date provision from November 1, 2025 to November 1, 2028.

Reorganized and renumbered sections for clarity and consistency with the proposed policy committee substitute format.

Engrossed → Enrolled (final version) · 4 edits · May 22, 2025

MODERATE

This bill transitions from an Engrossed draft to an Enrolled final version, incorporating minor formatting and numbering corrections while maintaining the same substantive policy content. The core provisions remain unchanged, including requirements for real estate licensees to complete continuing education on deed theft and new buyer notification requirements about deed theft risks at closing.

TECHNICAL

Page headers and bill numbering were updated from 'ENGROSSED SENATE' to 'ENROLLED SENATE' to reflect final legislative approval status.

Line numbering and pagination markers were adjusted to match the final enrolled version format.

The subject line was added as 'Deed and title theft' for clarity in the final version.

Minor formatting corrections were made to section numbering and text alignment throughout the document.

Amended And Engrossed → Engrossed · 3 edits · May 22, 2025

MINOR

The bill was renumbered from an 'Engrossed House Amendment' to an 'Engrossed Senate Bill', indicating it has moved through the legislative process. The substantive content remains largely the same, with minor formatting adjustments and page number updates. The core provisions regarding real estate licensing, continuing education requirements, and deed theft definitions were not materially changed.

Scope change

No substantive scope change; the bill maintains the same legislative intent and provisions as the previous version.

TECHNICAL

The bill title was changed from 'Engrossed House Amendment' to 'Engrossed Senate Bill', reflecting its progression through the legislative process.

Minor formatting and page number adjustments were made throughout the document to align with Senate bill formatting standards.

TIMELINE

Added Senate passage date of March 27, 2025, and House passage line for final legislative approval.

Introduced → Amended And Engrossed · 4 edits · May 22, 2025

MODERATE

This bill was amended to restructure its organization and clarify definitions. The primary substantive change is moving the definition of 'deed theft' from a standalone section to be included within the existing real estate licensing definitions section. The bill also updated the codification section to reflect that the Oklahoma Real Estate Commission must promulgate rules for the new deed theft notification requirement.

Scope change

The bill's scope remains focused on real estate licensing and deed theft prevention, but the organizational structure was altered to integrate the deed theft definition directly into the licensing code definitions rather than as a separate new section.

STRUCTURE

The bill was reorganized from a standard introduced format to an engrossed format with House amendments, changing the layout and section numbering.

DEFINITION

The definition of 'deed theft' was moved from a standalone Section 1 into Section 2 of the bill, where it is now listed as a defined term within the Oklahoma Real Estate License Code definitions.

REQUIREMENT

The notification requirement for deed theft risks was updated to specify that the notification must be given by a licensed real estate broker during transaction closing.

TECHNICAL

The codification section was updated to clarify that the Oklahoma Real Estate Commission must promulgate rules to implement the deed theft notification requirement.

Deed regulation; real estate licensing; requiring certain continuing education course; requiring certain notification to buyer. Effective date.

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