This bill introduces a new criminal penalty for "deed theft," defining it as the intentional alteration, forgery, or misrepresentation of property documents with the intent to deceive or unlawfully transfer ownership rights. Upon conviction, individuals found guilty of deed theft will face felony charges, which may result in imprisonment for up to two years, a fine of up to $5,000, or both. Additionally, the bill amends existing laws related to continuing education requirements for real estate licensees, mandating that they complete a specified number of hours of education on deed theft by November 1, 2028.

Furthermore, the bill requires that buyers receive notification about the signs and risks of deed theft during the closing of a real estate transaction, with the buyer confirming receipt of this information by signing it. The Oklahoma Real Estate Commission is tasked with promulgating rules to implement these provisions. The act is set to take effect on November 1, 2025.