Small Estate Affidavit - Oklahoma

You may have heard about small estate affidavits. Many people, when attempting to transfer assets out of the estate of their deceased relatives, ask: What is a small estate affidavit? How can I use a small estate affidavit to transfer assets?

Below, I have published free small estate affidavit Oklahoma forms. You may use to these forms to transfer or collect various types of property. If you fill out these small estate affidavits, the affidavits will be legally effective under the small estate affidavit Oklahoma statute. First, here is a brief explanation on what a small estate affidavit is, and what it can do:

A small estate affidavit is a legal document, in which the heir of an estate swears that the estate is a small estate and that another person owes money to the estate, or is in control of property owned by the estate. If the heir gives the affidavit to the person who owes money to the estate or is in control of property the estate owns, the person receiving the affidavit must transfer the property to the heir. The heir will not have to go through probate to collect or transfer the property. If you do file a probate action, you will not be allowed to use a small estate affidavit to transfer or collect property.

You may use a small estate affidavit to do the following:

• Collect a debt owed to the estate. Give the small estate affidavit to the debtor, and the debtor must pay you.
  
• Collect personal property owned by the estate, if someone else has the property. Give the small estate affidavit to the person who holds the property, and the person must give you the property.
  
• Transfer title to property owned by the estate to you, if a government agency has control over registered title. For example, if the decedent owned a motor vehicle, you can give the small estate affidavit to the Oklahoma Tax Commission (OTC), and the OTC will transfer title into your name.
  
• Transfer stocks or securities owned by the estate, into your name.
  
• Collect property held by the State Treasurer in the Oklahoma Unclaimed Property Fund.

You may use a small estate affidavit if:

• The decedent died with a “small estate”. Oklahoma law defines a small estate as an estate in which the value of the estate property in Oklahoma, owned by the decedent and subject to disposition by will or intestate succession, minus liens and encumbrances, is less than $50,000.
  
• You are the successor in interest to the decedent’s estate.

I realize that the above terms are complicated. For a further explanation of the definition of “small estate” and “successor in interest” click on my blog post, “ What is Considered a ‘Small Estate’ in Oklahoma? ”

You may only transfer and collect personal property by a small estate affidavit; you cannot transfer and collect real property (homes or land) by a small estate affidavit. To see how to transfer real property of a decedent, click here .

Below, here are small estate affidavits.

Warning: You should not use these without the advice of a lawyer. Any mistake you make can be very costly. The small estate affidavit Oklahoma statute says that if you submit and sign a false affidavit, you may be fined up to $3,000, and serve up to six months in jail. A court may also order you to pay restitution to the rightful beneficiary of the estate property.

To collect debts or transfer personal property of a small estate, choose the form below for the type of property you wish to collect or transfer: