Okla. Stat. tit. 16, § 16-202
This is the official text of Okla. Stat. tit. 16, § 16-202, part of Oklahoma’s Stat. tit. 16, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 16,." Browse the sections below, each linked to its official government source.
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Rights and duties of parties
Official statutory text
Any contract hereafter made in this state for the purchase and
sale of realty shall be interpreted as including an agreement that
the parties shall have the following rights and duties, unless the
contract expressly provides otherwise;
(a) if, when neither the legal title nor the possession of the
subject matter of the contract has been transferred, all or a
material part thereof is destroyed without fault of this purchaser
or is taken by eminent domain, the vendor cannot enforce the
contract, and the purchaser is entitled to recover any portion of
the price that he has paid; or
(b) if, when either the legal title or the possession of the
subject matter of the contract has been transferred, all or any part
thereof is destroyed without fault of the vendor or is taken by
eminent domain, the purchaser is not thereby relieved from a duty to
pay the price, nor is he entitled to recover any portion thereof
that he has paid.
sale of realty shall be interpreted as including an agreement that
the parties shall have the following rights and duties, unless the
contract expressly provides otherwise;
(a) if, when neither the legal title nor the possession of the
subject matter of the contract has been transferred, all or a
material part thereof is destroyed without fault of this purchaser
or is taken by eminent domain, the vendor cannot enforce the
contract, and the purchaser is entitled to recover any portion of
the price that he has paid; or
(b) if, when either the legal title or the possession of the
subject matter of the contract has been transferred, all or any part
thereof is destroyed without fault of the vendor or is taken by
eminent domain, the purchaser is not thereby relieved from a duty to
pay the price, nor is he entitled to recover any portion thereof
that he has paid.
Status: in_force · Read it on the official government site
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