| Item | Value |
|---|---|
| Is an assignment legal here? | yes |
| What the matrix says about it | Assignment as a principal is legal; PUBLICLY MARKETING the equitable interest without a licence is not. 59 O.S. 858-301 deems a person who publicly markets for sale an equitable interest in a contract to be acting as a real estate licensee (Predatory Real Estate Wholesaler Prohibition Act). SB 1075, effective 2025-11-01, extends the definition to simultaneous/double closings. |
| Marketing rule the gate enforces | no_public_marketing_without_licence |
| What that means in practice | Do not publicly advertise either the property or the contract in Oklahoma without a licence. A wholesaler who closes as a principal and only then resells is outside the public-marketing trigger. |
| What triggers a licence requirement | Publicly marketing for sale an equitable interest in a contract (59 O.S. 858-301); simultaneous double closings after 2025-11-01 (SB 1075). |
| Written seller disclosure required? | yes |
| Basis for the disclosure | 59 O.S. 858-314 -- a wholesaler SHALL disclose in writing to the homeowner its intent to assign or sell its equitable interest in the residential real estate. |
| Statutory wording required? | yes — Statute prescribes the substance of the disclosure; template carries OWNER_COUNSEL_INSERT for verbatim text. |
| F5259 bucket | GO_WITH_CONDITIONS |
| Condition the gate enforces | NO PUBLIC MARKETING of the equitable interest -- 59 O.S. 858-301 makes that licensee activity, and 858-102(14) defines 'publicly market' as ALL advertisements and marketing conducted in a public or open manner or place. 858-102(20) defines 'wholesaler'. Private assignment + disclosure only; disposition listings refused by the gate. |
| Verification status | PRIMARY_STATUTE |
| Attorney review required before first use? | yes |
| Lead class | Verdict |
|---|---|
| land | NO_PUBLIC_MARKETING__PRINCIPAL_CLOSE_ONLY |
| preforeclosure non owner occupied | NO |
| preforeclosure owner occupied | NO |
| probate | NO_PUBLIC_MARKETING__PRINCIPAL_CLOSE_ONLY |
| tax delinquent | NO_PUBLIC_MARKETING__PRINCIPAL_CLOSE_ONLY |
the whole grid · probate in OK · the disclosure blocks
Not legal advice. We are not a law firm and we do not draft documents for anyone else. A template is a starting point for a transaction you are a principal in; it is not a substitute for a lawyer licensed in the state the property sits in, and in several states the disclosure below has statutory wording that must be copied exactly. Have counsel read it before you sign.
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