Okla. Stat. tit. 59, § 59-858-515.2
This is the official text of Okla. Stat. tit. 59, § 59-858-515.2, part of Oklahoma’s Stat. tit. 59, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 59,." Browse the sections below, each linked to its official government source.
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Violation of duty to disclose source of information
Official statutory text
- Damages.
A. If a real estate licensee has provided any third-party
information, as defined in paragraph 2 of subsection B of Section 1
of this act, to any party to a real estate transaction concerning
size or area of the subject real property, a party to the real
estate transaction may recover damages from the licensee in a civil
action only when a licensee knowingly violates the duty to disclose
the source of the information, as required in paragraph 1 of
subsection B of Section 1 of this act.
B. The sole and exclusive civil remedy at common law or
otherwise for a violation of paragraph 1 of subsection B of Section
1 of this act by a real estate licensee shall be an action for
actual damages suffered by the party as a result of such violation
and shall not include exemplary or punitive damages.
C. For any real estate transaction commenced after the
effective date of this act, any civil action brought pursuant to
this section shall be commenced within two (2) years after the date
of transfer of the subject real property.
D. In any civil action brought pursuant to this section, the
prevailing party shall be allowed court costs and reasonable
attorney fees to be set by the court and collected as costs of the
action.
E. A transfer of a possessory interest in real property subject
to the provisions of this act may not be invalidated solely because
of the failure of any person to comply with the provisions of this
act.
F. The provisions of this act shall apply to, regulate and
determine the rights, duties, obligations and remedies, at common
law or otherwise, of the seller marketing his or her real property
for sale through a real estate licensee, and of the purchaser of
real property offered for sale through a real estate licensee, with
respect to disclosure of third-party information concerning the
subject real property’s size or area, in square footage or
otherwise, and this act hereby supplants and abrogates all common
Oklahoma Statutes - Title 59. Professions and Occupations Page 738
law liability, rights, duties, obligations and remedies of all
parties therefor.
A. If a real estate licensee has provided any third-party
information, as defined in paragraph 2 of subsection B of Section 1
of this act, to any party to a real estate transaction concerning
size or area of the subject real property, a party to the real
estate transaction may recover damages from the licensee in a civil
action only when a licensee knowingly violates the duty to disclose
the source of the information, as required in paragraph 1 of
subsection B of Section 1 of this act.
B. The sole and exclusive civil remedy at common law or
otherwise for a violation of paragraph 1 of subsection B of Section
1 of this act by a real estate licensee shall be an action for
actual damages suffered by the party as a result of such violation
and shall not include exemplary or punitive damages.
C. For any real estate transaction commenced after the
effective date of this act, any civil action brought pursuant to
this section shall be commenced within two (2) years after the date
of transfer of the subject real property.
D. In any civil action brought pursuant to this section, the
prevailing party shall be allowed court costs and reasonable
attorney fees to be set by the court and collected as costs of the
action.
E. A transfer of a possessory interest in real property subject
to the provisions of this act may not be invalidated solely because
of the failure of any person to comply with the provisions of this
act.
F. The provisions of this act shall apply to, regulate and
determine the rights, duties, obligations and remedies, at common
law or otherwise, of the seller marketing his or her real property
for sale through a real estate licensee, and of the purchaser of
real property offered for sale through a real estate licensee, with
respect to disclosure of third-party information concerning the
subject real property’s size or area, in square footage or
otherwise, and this act hereby supplants and abrogates all common
Oklahoma Statutes - Title 59. Professions and Occupations Page 738
law liability, rights, duties, obligations and remedies of all
parties therefor.
Status: in_force · Read it on the official government site
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