House Bill No. 1453 aims to regulate foreign ownership of property in Oklahoma by prohibiting certain foreign parties from acquiring interests in both real property and agricultural land. The bill defines key terms such as "prohibited foreign party," "agricultural land," and "controlling interest," and establishes that these parties cannot hold property either directly or through fiduciaries. If a violation occurs, the bill mandates that the offending party must divest their property within one year, or the district attorney or Attorney General will initiate legal action, potentially leading to judicial foreclosure. The bill also outlines penalties for violations, including felony charges and fines.

Additionally, the bill provides exemptions for resident aliens and includes provisions for the recording of deeds, which must now include an affidavit confirming compliance with the new regulations. The Attorney General is tasked with creating specific affidavit forms for individuals and business entities. The act is set to take effect on November 1, 2026, and emphasizes the importance of compliance to ensure that property ownership aligns with state laws.

Statutes affected:
Introduced: 60-121