A married couple in Enid, Oklahoma is purchasing a home that will be their primary residence. The husband wants to place the property only in his name on the deed. The wife does not plan to be on the mortgage or the deed. Under Oklahoma law, what concern should the closing attorney raise regarding the homestead?
Correct Answer
D) The wife must sign the deed as a grantor if the property is later sold, because Oklahoma homestead law requires both spouses to convey a homestead
Under Oklahoma's constitutional homestead law (Oklahoma Constitution, Art. XII), a homestead cannot be conveyed or encumbered without the consent and joinder of the non-titled spouse, even if the property is titled only in one spouse's name. This means that when the husband later wants to sell or mortgage the property, the wife must also sign the deed or mortgage instrument. The closing attorney should advise the couple of this requirement to avoid future title problems.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
A bilateral contract is an agreement in which both parties exchange promises and are both obligated to perform, while a unilateral contract is one in which only one party makes a promise and the other party is not obligated to act.
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
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