Okla. Stat. tit. 60, § 60-528
This is the official text of Okla. Stat. tit. 60, § 60-528, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Obsolete property
Official statutory text
Ninety percent (90%) of the unit owners computed on the basis
set forth in Section 503 of this title may agree that the property
is obsolete in whole or in part and whether or not the same shall be
renewed and restored or the property sold and the proceeds of sale
distributed. If such percent of the unit owners agree to renew and
restore the property, then the expense thereof shall be payable by
all the unit owners as common expenses. If, however, such percent
of the unit owners agree that the property be sold, then the
property shall be subject to partition at the suit of any unit
owner, in which event the net proceeds of sale shall be divided
among all the unit owners in proportion to their respective
undivided ownership of the common elements, after first paying off
out of the respective shares of the unit owners, all liens on the
unit of each unit owner except a declarant not making pro rata
contributions pursuant to subsection (b) of Section 512 of this
title shall receive a reduced share of the proceeds in accordance
with the same formula described in paragraph (j) of Section 514 of
this title.
set forth in Section 503 of this title may agree that the property
is obsolete in whole or in part and whether or not the same shall be
renewed and restored or the property sold and the proceeds of sale
distributed. If such percent of the unit owners agree to renew and
restore the property, then the expense thereof shall be payable by
all the unit owners as common expenses. If, however, such percent
of the unit owners agree that the property be sold, then the
property shall be subject to partition at the suit of any unit
owner, in which event the net proceeds of sale shall be divided
among all the unit owners in proportion to their respective
undivided ownership of the common elements, after first paying off
out of the respective shares of the unit owners, all liens on the
unit of each unit owner except a declarant not making pro rata
contributions pursuant to subsection (b) of Section 512 of this
title shall receive a reduced share of the proceeds in accordance
with the same formula described in paragraph (j) of Section 514 of
this title.
Status: in_force · Read it on the official government site
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