Title Examination Standards
Chapter 1, App.
Chapter 30. Marketable Record Title Act
§30.6. Filing of Notice.

A marketable record title is subject to any interest preserved by filing a notice of claim in accordance with the terms of Sections 74 and 75 of the Marketable Record Title Act.

Authority: 16 O.S. §§ 74 & 75; L. Simes & C. Taylor, Model Title Standards, Standard 4.7 at 29-30 (1960). Comment: Suppose A was the grantee in a chain of record title of a tract of land, a deed to which was recorded in 1960. In 1962, a mortgage of the same land from A to X was recorded. In 1966, a mortgage of the same land from A to Y was recorded. In 1978, a deed of the same land from A to B in fee simple absolute was recorded, which made no mention of the mortgages. In 2007, Y recorded a notice of Y's mortgage, as provided in Sections 74 and 75 of the Act. X did not record any notice. In 2008, B had a marketable record title, which is subject to Y's mortgage, but not to X's mortgage. B's root of title is the 1978 deed. Therefore, X and Y had until 2008 to record a notice for the purpose of preserving their interests. If X had filed a notice after 2008, it would have been a nullity, since X's interest was already extinguished. The filing of a notice may be a nullity not only because it comes too late, but also because it concerns a subject matter not within the scope of the statute. Thus, recorded notices of real estate commissions claimed or other charges which do not constitute liens on the property have no effect under the Act, 16 O.S. § 72(b).

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 2055-56. Approved, upon recommendation of Real Property Section, by House of Delegates, 36 O.B.A.J. 179, 182 (1965). All references to prior 40-year period deleted, 30 years substituted, and dates in "Comment" corrected to agree with 30-year period as per direction of House of Delegates, see Minutes of House for 1977, at 93-96.

The Title Examination Standards Sub-Committee recommended the Comments of Title Standards 30.3, 30.4, 30.5, 30.6, 30.7, 30.8, 30.9, and 30.10 be amended to make the current effect of the Marketable Record Title Act more apparent to examiners. The Real Property Law Section approved, November 18, 2010, and the House of Delegates adopted the proposal on November 19, 2010. (superseded document available)