Okaloosa Island Leaseholders Association OILA
       Okaloosa Island Leaseholders Association                 OILA

Leasehold Conversion Process

Originally, land on Okaloosa Island was "leased" from the Okaloosa Island Authority.  The lease was for 99 years with an automatic renewal for 99 years.  There is a Brief History of Okaloosa Island on the About Us page.  It contains the history of how the Island evolved over the years.


A sample lease for a residential property on the Island is contained in the link below.

Adobe Acrobat document [356.3 KB]

In 1995, the Okaloosa County Board of County Commissioners approved a measure that allowed leaseholders to obtain a "fee simple title" to their property.


Why would you want to convert from a "lease" to "fee simple title"?  The primary reason is financing.  Most lending institutions, either for a primary mortgage or for re-financing an existing mortgage, do not want to lend money on property that is leased.  This makes it difficult to obtain financing when selling or re-financing.

To facilitate this conversion process, the Board of County Commissioners has entered into a contract with Surety Land Title of Florida, LLC. to defray the cost of a title search to confirm record title, legal notice of bid, preparation of quit claim deed, bid fee, title examination,  recording and documentary stamp fees.


The process involves the following:

  1. Only the current owner(s) may apply for the conversion.
  2. The process takes approximately 8 weeks to complete.
  3. The current owner(s) will need to complete and return the application package to Surety Land Title along with a copy of the current lease.
  4. The current cost for the process is $950.00. (January 2017)  A check should be made payable to Surety Land Title.



Surety Land Title

188 N. Main Street

Crestview, FL  32536


Surety Land Title has a Leasehold Conversion Application package which can be emailed.  The package can be viewed using the link below.

Leasehold Conversion Application.pdf
Adobe Acrobat document [203.3 KB]
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