OK SB521

Defines "interest in real estate" under the Nontestamentary Transfer of Property Act to include any estate or interest in, over or under land, including surface, minerals, structures and fixtures.

Changes the beneficiary affidavit requirement from "notarized" to simply "sworn to before a notary" and eliminates the requirement for estate tax releases in all cases.

Requires grantee beneficiaries to record the affidavit and related documents with the county clerk within nine (9) months of the grantor's death, or the interest reverts to the deceased grantor's estate.

Allows affidavits properly sworn before a notary to be recorded without acknowledgment and makes them effective as if acknowledged, notwithstanding Title 16 recording requirements.

Specifies that non-consensual liens against the grantee beneficiary do not attach to the property until recording of the required affidavit, and clarifies that transfers lapse if beneficiaries predecease the grantor unless designated as joint tenants with survivorship rights.

Effective date: November 1, 2011.