Okla. Stat. tit. 60, § 60-837
This is the official text of Okla. Stat. tit. 60, § 60-837, 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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Remedies
Official statutory text
A. The purchaser may recover in a civil action only in the
event of any of the following:
1. The failure of the seller to provide to the purchaser a
disclaimer statement or a disclosure statement and any amendment
prior to acceptance of an offer to purchase;
2. The failure of the seller to disclose in the disclosure
statement or any amendment provided to the purchaser a defect which
Oklahoma Statutes - Title 60. Property Page 254
was actually known to the seller prior to acceptance of an offer to
purchase; or
3. The failure of the real estate licensee to disclose to the
purchaser any defects in the property actually known to the real
estate licensee prior to acceptance of an offer to purchase and
which were not included in the disclosure statement or any amendment
provided to the purchaser.
B. The sole and exclusive civil remedy at common law or
otherwise for a failure under subsection A of this section by the
seller or the real estate licensee shall be an action for actual
damages, including the cost of repairing the defect, suffered by the
purchaser as a result of a defect existing in the property as of the
date of acceptance by the seller of an offer to purchase and shall
not include the remedy of exemplary damages.
C. Any action brought under this act shall be commenced within
two (2) years after the date of transfer of real property subject to
this act.
D. In any civil action brought under this act, the prevailing
party shall be allowed court costs and a reasonable attorney fee to
be set by the court and to be collected as costs.
E. A transfer of a possessory interest in property subject to
this act may not be invalidated solely because of the failure of any
person to comply with this act.
F. This act applies to, regulates and determines rights,
duties, obligations and remedies at common law or otherwise of the
seller, the real estate licensee and the purchaser with respect to
disclosure of defects in property and supplants and abrogates all
common law liability, rights, duties, obligations and remedies
therefore.
event of any of the following:
1. The failure of the seller to provide to the purchaser a
disclaimer statement or a disclosure statement and any amendment
prior to acceptance of an offer to purchase;
2. The failure of the seller to disclose in the disclosure
statement or any amendment provided to the purchaser a defect which
Oklahoma Statutes - Title 60. Property Page 254
was actually known to the seller prior to acceptance of an offer to
purchase; or
3. The failure of the real estate licensee to disclose to the
purchaser any defects in the property actually known to the real
estate licensee prior to acceptance of an offer to purchase and
which were not included in the disclosure statement or any amendment
provided to the purchaser.
B. The sole and exclusive civil remedy at common law or
otherwise for a failure under subsection A of this section by the
seller or the real estate licensee shall be an action for actual
damages, including the cost of repairing the defect, suffered by the
purchaser as a result of a defect existing in the property as of the
date of acceptance by the seller of an offer to purchase and shall
not include the remedy of exemplary damages.
C. Any action brought under this act shall be commenced within
two (2) years after the date of transfer of real property subject to
this act.
D. In any civil action brought under this act, the prevailing
party shall be allowed court costs and a reasonable attorney fee to
be set by the court and to be collected as costs.
E. A transfer of a possessory interest in property subject to
this act may not be invalidated solely because of the failure of any
person to comply with this act.
F. This act applies to, regulates and determines rights,
duties, obligations and remedies at common law or otherwise of the
seller, the real estate licensee and the purchaser with respect to
disclosure of defects in property and supplants and abrogates all
common law liability, rights, duties, obligations and remedies
therefore.
Status: in_force · Read it on the official government site
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