Oklahoma · 60 O.S. §§175.6a, 175.7, 175.8Oklahoma trust sales: the trust as grantor, the memorandum of trust and the buyer's protection

Any estate in Oklahoma real property may be acquired and held in the name of an express private trust that is a legal entity, and any conveyance or other transfer of that property is made in the name of the trust by its trustee or trustees (60 O.S. §175.6a). When property is acquired or transferred in the trust's name, the trustee files with the county clerk where the property is a memorandum of trust giving the date the trust was created and the names of the trustees (§175.6a). People who sign conveyances as the trust's trustees are presumed to act in that capacity and within their authority in any action to set aside the conveyance against a bona fide purchaser for value (§175.6a). A person who takes trust property for value and without notice of a breach of trust – actual, or constructive under the recording act – and who isn't knowingly part of an illegal transaction holds it free of the trust, with no liability to the beneficiaries (§175.7). A buyer who in good faith pays a trustee money the trustee is authorized to receive isn't responsible for how the trustee applies it, and the title acquired isn't invalid because of a misapplication (§175.8).