Many people who live in Oklahoma, and particularly those in the Oklahoma City area, may see in the relatively strong real estate market an opportunity to invest in commercial real estate. In many cases, a person can be more of a passive investor just by providing money for a commercial project. However, others may want to take an active role in owning commercial property, like a shopping center or office space.
In our country today, it is not at all uncommon for a person to live and, ultimately, die as a resident of one state while having property in several states, including Oklahoma. Assuming the property involved requires estate administration and probate, it may mean that a personal representative in another state may have to complete an ancillary estate proceeding here in Oklahoma.
Planning for your future doesn't always mean deciding where you want to go to college, where you want to live or what career path you want to take. For many Oklahoma residents, this means drafting an estate plan. The estate planning processes is often looked at as something that could be put off until later in life. However, it is important to consider your financial, business, tax and health care needs and issues earlier in life. This could help an individual or family avoid serious problems at the time of death.
Those who own rental property in Oklahoma hope that they have good renters. Usually this is the case, but occasionally a property owner needs to evict their renter. There is a process for eviction "for cause" that Oklahoma property owners should be familiar with in landlord-tenant law.