Title Examination Standards
Chapter 1, App.
Chapter 30. Marketable Record Title Act
§30.12. Effective Date of the Act.

The Marketable Record Title Act became effective September 13, 1963. The two year period for filing notices of claim under Section 74 expired September 13, 1965. The Act was amended March 27, 1970, by reducing the forty (40) year period to thirty (30) years, effective July 1, 1972. If the thirty (30) year period expired prior to March 27, 1970, such period was extended to July 1, 1972, and notices of claim could be filed to and including that date.

Authority: As to the original "forty years" statute, 1963 Okla. Sess. Laws, ch. 31, §§ 4, 5 & 11. As to the present "thirty years" statute, 16 O.S. §§ 74 & 75 and 1970 Okla. Sess. Laws, ch. 92, § 7. Comment: Remainders, long term mortgages and other non-possessory interests prior to the root of title should be reviewed to see if a notice of claim is required. Also, if the owner is out of possession and the owner has recorded no instruments or other title transactions during the preceding thirty (30) years, consideration should be given to filing a notice of claim. Prior non-possessory interests may be preserved by reference in an instrument or other title transaction recorded subsequent to the root of title. But the reference must specifically identify a recorded transaction. A general reference is not sufficient, 16 O.S. § 72(a).

History: Adopted December 1964. Printed as a part of Proposal No. 12 of 1964 Real Property Committee, 35 O.B.A.J. 2045, 2046 (1964); and see Exhibit H, id . at 2059. Approved, upon recommendation of Real Property Section, by House of Delegates, 36 O.B.A.J. 179, 182. As a result of a proposal by the 1970 Real Property Committee's Supplemental Report, printed as Exhibit 1, 41 O.B.A.J. 2676, 2679 (1970). Approved by the Real Property Section on December 3, 1970, and adopted by the House of Delegates on December 4, 1970, 42 O.B.A.J. 706 (1971), this standard was modified to reflect the amendment shortening the period to thirty (30) years. Pertinent statutory authority, relating to the amendment, has been added by the editor pursuant to the directive in the Committee's Supplemental Report, Exhibit 1, 41 O.B.A.J. 2676, 2679 (1970). Tense of verbs in last clause of third sentence changed by editor, 1978; "Authority" amended to indicate where prior and current statutes may be found by editor, 1978, see Minutes of House of Delegates for 1977, at 93-96.