reglab/statecodes huggingface dataset:
2023 Oklahoma Statutes › Title 60. Property › §60-680. Interest - Penalties - Waiver or remittance.

A. A person who fails to pay or deliver property within the time prescribed by the Uniform Unclaimed Property Act may be required to pay interest at the annual rate of ten percent (10%) on the property or value thereof from the date the property should have been paid or delivered.
B. In addition to the penalty imposed in subsection A of this section, a person who willfully fails to render any report or deliver property or perform any other duties required under the Uniform Unclaimed Property Act may be required to pay a civil penalty of One Hundred Dollars ($100.00) for each day the report is withheld or the duty is not performed, but not more than Five Thousand Dollars ($5,000.00).
C. A person who willfully fails to pay or deliver property to the State Treasurer as required under the Uniform Unclaimed Property Act may be required to pay a civil penalty equal to twenty-five percent (25%) of the value of the property that should have been paid or delivered.
D. A person who willfully refuses after written demand by the State Treasurer to pay or deliver property to the State Treasurer as required under the Uniform Unclaimed Property Act is guilty of a misdemeanor and upon conviction may be punished by a fine of not less than Five Hundred Dollars ($500.00) nor more than Five Thousand Dollars ($5,000.00), or imprisonment for not more than six (6) months, or both.
E. The interest or penalty or any portion thereof, as imposed by subsection A, B or C of this section, may be waived or remitted by the State Treasurer if the person’s failure to pay abandoned funds or deliver property is satisfactorily explained to the State Treasurer or if such failure has resulted from a mistake by the person of either the law or the facts subjecting that person to pay abandoned funds or deliver property subject to the Uniform Unclaimed Property Act, or inability to pay such interest or penalty resulting from insolvency. The State Treasurer shall promulgate rules in accordance with the Administrative Procedures Act requiring the identification and recording of those circumstances under which interest or penalty, as imposed by subsection A, B, or C of this section, may be waived. The State Treasurer may also authorize amnesty programs to promote voluntary compliance with the Uniform Unclaimed Property Act, and may participate and cooperate with other state administrators of abandoned or unclaimed property programs in nationwide amnesty programs. For purposes of this section, amnesty programs are programs in which potential holders of unclaimed property are granted waivers of interest and civil penalties if they voluntarily begin to comply with the reporting requirements of the state’s unclaimed property laws.
Added by Laws 1967, c. 107, § 30, emerg. eff. April 24, 1967. Amended by Laws 1982, c. 278, § 9, eff. Jan. 1, 1983; Laws 1989, c. 244, § 1, eff. Nov. 1, 1989; Laws 1991, c. 331, § 37, eff. Sept. 1, 1991; Laws 1999, c. 10, § 29, eff. July 1, 1999; Laws 2000, c. 136, § 7, eff. July 1, 2000; Laws 2004, c. 318, § 9, eff. July 1, 2004.
2023 Oklahoma Statutes › Title 60. Property › §60-681. Promulgation of rules – Continuation of rules in effect.

The State Treasurer may promulgate necessary rules to carry out the provisions of the Uniform Unclaimed Property Act. Promulgation of any rules shall be in accordance with the Administrative Procedures Act. Any administrative rules of the Oklahoma Tax Commission which are in effect on the date the responsibilities of the Uniform Unclaimed Property Act are transferred to the State Treasurer pursuant to the provisions of subsection D of Section 1 of this act. All powers and duties of the Oklahoma Tax Commission or references to the Oklahoma Tax Commission within such rules shall be deemed to be powers and duties of the State Treasurer or references to the State Treasurer.
Added by Laws 1967, c. 107, § 31, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 38, eff. Sept. 1, 1991; Laws 1999, c. 10, § 30, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-682. Effect of foreign laws.

This act does not apply to any property held, due and owing in a foreign country and arising out of a foreign transaction.
Laws 1967, c. 107, § 32, emerg. eff. April 24, 1967; Laws 1991, c. 331, § 39, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 60. Property › §60-683.1. Exchange of information with other states - Reports – Continuation of agreements - Joint enforcement of act.

A. The State Treasurer may enter into agreements with other states to exchange information needed to enable this or another state to audit or otherwise determine unclaimed personal property that it or another state may be entitled to subject to a claim of custody. The State Treasurer by rule may require the reporting of information needed to enable compliance with agreements made under this section and prescribe the form. Any agreements entered into by the Oklahoma Tax Commission which are in effect on the date the responsibilities of the Uniform Unclaimed Property Act are transferred to the State Treasurer shall be effective agreements of the State Treasurer until such time as the State Treasurer chooses to amend, repeal or modify them. All powers and duties of the Oklahoma Tax Commission or references to the Oklahoma Tax Commission within such rules shall be deemed to be powers and duties of the State Treasurer or references to the State Treasurer.
B. To avoid conflicts between the procedures in effect in this state and the procedures in other jurisdictions that enact the Uniform Unclaimed Property Act, the State Treasurer, so far as it is consistent with the purposes, policies, and provisions of the Uniform Unclaimed Property Act, before promulgating, amending, or repealing rules, shall advise and consult with administrators in other jurisdictions that enact substantially the Uniform Unclaimed Property Act and take into consideration the rules of administrators in other jurisdictions that enact the Uniform Unclaimed Property Act.
C. The State Treasurer may join with other states to seek enforcement of the Uniform Unclaimed Property Act against any person who is or may be holding property reportable under the Uniform Unclaimed Property Act.
D. At the request of another state, the Attorney General of this state may bring an action in the name of the other state in any court of competent jurisdiction to enforce the unclaimed property laws of the other state against a holder in this state of property subject to escheat or a claim of abandonment by the other state, if the other state has agreed to pay expenses incurred by the Attorney General in bringing the action.
E. The State Treasurer may request that the Attorney General of another state or any other person bring an action to enforce the Uniform Unclaimed Property Act in the other state. This state shall pay all expenses including attorney fees in an action under this subsection. The State Treasurer may agree to pay the person bringing the action attorney fees based in whole or in part on a percentage of the value of property recovered in the action. Any expenses paid pursuant to this subsection may not be deducted from the amount that is subject to a claim by the owner under the Uniform Unclaimed Property Act.
Added by Laws 1991, c. 331, § 40, eff. Sept. 1, 1991. Amended by Laws 1999, c. 10, § 31, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-683.2. Application and effect of act.

(a) This act does not relieve a holder of a duty that arose before the effective date of this act to report, pay, or deliver property. A holder who did not comply with the law in effect before the effective date of this act is subject to the applicable enforcement and penalty provisions that then existed and they are continued in effect for the purpose of this subsection, subject to subsection (b) of Section 666 of this title.
(b) The initial report filed under this act for property that was not required to be reported before the effective date of this act but which is subject to this act must include all items of property that would have been presumed abandoned during the ten-year period preceding the effective date of this act as if this act had been in effect during that period.
(c) Museums shall not be subject to the provisions of the Uniform Unclaimed Property Act, but a museum may avail itself of the provisions of this act by complying with the requirements of this act.
Added by Laws 1991, c. 331, § 41, eff. Sept. 1, 1991. Amended by Laws 1992, c. 404, § 2, emerg. eff. June 11, 1992.
2023 Oklahoma Statutes › Title 60. Property › §60-684.1. Recovery of property by another state.

A. At any time after personal property has been paid or delivered to the State Treasurer under the Uniform Unclaimed Property Act, another state may recover the property if:
1. The property was subjected to custody by this state because the records of the holder did not reflect the last-known address of the apparent owner when the property was presumed abandoned under the Uniform Unclaimed Property Act, and the other state establishes that the last-known address of the apparent owner or other person entitled to the property was in that state and under the laws of that state the property escheated to or was subject to a claim of abandonment by that state;
2. The last-known address of the apparent owner or other person entitled to the property, as reflected by the records of the holder, is in the other state and under the laws of that state the property has escheated to or become subject to a claim of abandonment by that state;
3. The records of the holder were erroneous in that they did not accurately reflect the actual owner of the property and the last-known address of the actual owner is in the other state and under the laws of that state the property escheated to or was subject to a claim of abandonment by that state;
4. The property was subjected to custody by this state under subsection (f) of Section 659 of this title and under the laws of the state of domicile of the holder the property has escheated to or become subject to a claim of abandonment by that state; or
5. The property is the sum payable on a travelers check, money order, or other similar instrument that was subjected to custody by this state under Section 651.2 of this title, and the instrument was purchased in the other state, and under the laws of that state the property escheated to or became subject to a claim of abandonment by that state.
B. The claim of another state to recover escheated or abandoned property must be presented in a form prescribed by the State Treasurer, which shall decide the claim within ninety (90) days after it is presented. The State Treasurer shall allow the claim if the State Treasurer determines that the other state is entitled to the abandoned property under subsection A of this section.
C. The State Treasurer shall require a state, before recovering property under this section, to agree to indemnify this state and its officers and employees against liability on a claim for the property.
Added by Laws 1991, c. 331, § 42, eff. Sept. 1, 1991. Amended by Laws 1999, c. 10, § 32, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-685.1. Application and construction of act.

The Uniform Unclaimed Property Act (1981) shall be applied and construed so as to effectuate its general purpose to make uniform the law with respect to unclaimed property among states enacting it.
Added by Laws 1991, c. 331, § 43, eff. Sept. 1, 1991.
2023 Oklahoma Statutes › Title 60. Property › §60-686. Citation.

Section 651 et seq. of this title may be cited as the Uniform Unclaimed Property Act.
Added by Laws 1967, c. 107, § 36, emerg. eff. April 24, 1967. Amended by Laws 1991, c. 331, § 44, eff. Sept. 1, 1991; Laws 1999, c. 10, § 33, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 60. Property › §60-701. Accounts presumed abandoned - Escheat.

All Postal Savings System accounts created by the deposits of persons whose last-known addresses are in this state which have not been claimed by the persons entitled thereto before May 1, 1971, are presumed to have been abandoned by their owners and are declared to escheat and become the property of this state.
Laws 1971, c. 41, § 1, emerg. eff. March 25, 1971.
2023 Oklahoma Statutes › Title 60. Property › §60-702. Request for account cards.

The Attorney General shall request from the Bureau of Accounts of the United States Treasury Department records providing the following information: the names of depositors at the post offices of this state whose accounts are unclaimed, their last addresses as shown by the records of the Post Office Department, and the balance in each account. He shall agree to return to the Bureau of Accounts promptly all account cards showing last addresses in another state.
Laws 1971, c. 41, § 2, emerg. eff. March 25, 1971.
2023 Oklahoma Statutes › Title 60. Property › §60-703. Proceedings to escheat accounts.

The Attorney General may bring proceedings in the district court of Oklahoma County to escheat unclaimed Postal Savings System accounts held by the United States Treasury Department. A single proceeding may be used to escheat as many accounts as may be available for escheat at one time.
Laws 1971, c. 41, § 3, emerg. eff. March 25, 1971.
2023 Oklahoma Statutes › Title 60. Property › §60-704. Notice to depositors.

The Attorney General shall notify depositors whose accounts are to be escheated as follows:
1. A letter advising that a Postal Savings System account in the name of the addressee is about to be escheated and setting forth the procedure by which a deposit may be claimed shall be mailed by first class mail to the named depositor at the last address shown on the account records for each account to be escheated having an unpaid principal balance of more than Twenty-five Dollars ($25.00).
2. A general notice of intention to escheat Postal Savings System accounts shall be published once in each of three (3) successive weeks in a legal newspaper of general circulation in the county in this state in which is located the last address shown on the account records for each account to be escheated having an unpaid principal balance of more than Twenty-five Dollars ($25.00). 3. A special notice of intention to escheat the unclaimed Postal Savings System accounts originally deposited in each post office must be published once in each of three (3) successive weeks in a legal newspaper of general circulation in the county in which the post office is located. This notice must list the names of the owners of each unclaimed account to be escheated having a principal balance of Three Dollars ($3.00) or more.
Laws 1971, c. 41, § 4, emerg. eff. March 25, 1971.
2023 Oklahoma Statutes › Title 60. Property › §60-705. Collection and deposit of funds.

The Attorney General shall present a copy of each final judgment of escheat to the United States Treasury Department for payment of the principal due and the interest computed under regulations of the United States Treasury Department. The payment received shall be deposited in the General Revenue Fund in the State Treasury.
Added by Laws 1971, c. 41, § 5, emerg. eff. March 25, 1971.
2023 Oklahoma Statutes › Title 60. Property › §60-706. Indemnification.

This state shall indemnify the United States for any losses suffered as a result of the escheat of unclaimed Postal Savings System accounts. The burden of the indemnification falls upon the fund into which the proceeds of the escheated accounts have been paid.
Laws 1971, c. 41, § 6, emerg. eff. March 25, 1971.
2023 Oklahoma Statutes › Title 60. Property › §60-751. Definitions.

As used in this act, unless otherwise clearly required by the context:
1. "Beneficiary" means and includes any person entitled, but for his disclaimer, to take an interest, as grantee; as donee; under any assignment or instrument of conveyance or transfer; by succession to a disclaimed interest, other than by will, intestate succession or through the exercise or nonexercise of a testamentary power of appointment; as beneficiary of an inter vivos trust or insurance contract; pursuant to the exercise or nonexercise of a nontestamentary power of appointment; as donee of a power of appointment created by a nontestamentary instrument; or otherwise under any nontestamentary instrument;
2. "Interest" means and includes the whole of any property, real or personal, legal or equitable, or any fractional part, share or particular portion or specific assets thereof or any estate in any such property including but not limited to a joint tenancy interest in any such property, or power to appoint, consume, apply or expend property or any other right, power, privilege or immunity relating thereto; and
3. "Disclaimer" means a written instrument which declines, refuses, releases or disclaims an interest which would otherwise be succeeded to by a beneficiary, which instrument defines the nature and extent of the interest disclaimed thereby and which must be signed, witnessed and acknowledged by the disclaimant in the manner provided for deeds of real estate.
Amended by Laws 1988, c. 319, § 8, eff. Nov. 1, 1988.
2023 Oklahoma Statutes › Title 60. Property › §60-752. Right to file disclaimer - Minor incompetent or deceased beneficiaries.

A beneficiary may disclaim any interest in whole or in part, or with reference to specific parts, shares, portions or assets thereof, by filing a disclaimer in the manner hereinafter provided. A guardian, executor, administrator or other personal representative of the estate of a minor, incompetent or deceased beneficiary, if he deems it in the best interests of those interested in the estate of such beneficiary and of those who take the beneficiary's interest by virtue of the disclaimer and not detrimental to the best interests of the beneficiary, with or without an order of the probate court, may execute and file a disclaimer on behalf of the beneficiary within the time and in the manner in which the beneficiary himself could disclaim if he were living, of legal age and competent. A beneficiary likewise may execute and file a disclaimer by agent or attorney so empowered.
Added by Laws 1973, c. 159, § 2.
2023 Oklahoma Statutes › Title 60. Property › §60-753. Time for filing disclaimer.

Such disclaimer shall be filed at any time after the creation of the interest, but in all events within nine (9) months after the effective date of the nontestamentary instrument creating the interest, or, if the disclaimant is not then finally ascertained as a beneficiary or his interest has not then become indefeasibly fixed both in quality and in quantity, such disclaimer shall be filed not later than nine (9) months after the event which would cause him so to become finally ascertained and his interest to become indefeasibly fixed both in quality and quantity. With respect to a disclaimer, an interest which is a joint tenancy interest in property shall not be considered to be indefeasibly fixed both in quality and quantity until the death of all but one of the persons owning such joint tenancy interest.
Amended by Laws 1988, c. 319, § 9, eff. Nov. 1, 1988.
2023 Oklahoma Statutes › Title 60. Property › §60-754. Place of filing disclaimer - Delivery of copies - Interest in real estate.

The disclaimer defined in Section 751 of this title shall be effective upon being filed on the miscellaneous docket in the office of the county clerk of any county of the State of Oklahoma in which the district court would have jurisdiction and venue of the matter. A copy of the disclaimer shall be delivered or mailed to the trustee of any trust in which the interest disclaimed exists or to any other person who has legal title to, or possession of, the property in which the interest disclaimed exists, and no such trustee or person shall be liable for any otherwise proper distribution or other disposition made without actual notice of the disclaimer. If an interest in or relating to real estate is disclaimed, the original of the disclaimer, or a copy of the disclaimer certified as true and complete by the custodian wherein the disclaimer has been filed, shall also be filed with the county clerk in the county or counties where the real estate is situated and shall constitute notice to all persons only from and after the time of the filing.
Added by Laws 1973, c. 159, § 4. Amended by Laws 2001, c. 67, § 1, eff. Nov. 1, 2001.
2023 Oklahoma Statutes › Title 60. Property › §60-755. Disposition of interest disclaimed.

Unless otherwise provided in the nontestamentary instrument creating the interest with reference to the possibility of a disclaimer by the beneficiary, the interest disclaimed shall be distributed or otherwise be disposed of in the same manner as if the disclaimant had died immediately preceding the death or other event which causes him to become finally ascertained as a beneficiary and his interest to become indefeasibly fixed both in quality and quantity and, in any case, the disclaimer shall relate for all purposes to that date, whether filed before or after such death or other event. However, one disclaiming an interest in a nonresiduary gift under a trust instrument or otherwise shall not be excluded, unless his disclaimer so provides, from sharing in a gift of the residue even though, through lapse, such residue includes the assets disclaimed. If the disclaimer pertains to a joint tenancy interest in property, the interest disclaimed shall be distributed or otherwise be disposed of in the same manner as if the disclaimant had died immediately preceding the death of the other person having a joint tenancy interest in the same property whose death most closely preceded the effective date of the disclaimer or, if no person having a joint tenancy interest has died, then as if the disclaimant never owned the joint tenancy interest which was disclaimed.
Amended by Laws 1988, c. 319, § 10, eff. Nov. 1, 1988.
2023 Oklahoma Statutes › Title 60. Property › §60-756. Uniform Fraudulent Conveyances Act not abrogated - Bar on right to disclaim in certain cases.

Nothing included in this act shall be deemed to amend, repeal or abrogate in any manner Title 24 O. S. 1971, Sections 101 through 111, inclusive. Any voluntary assignment or transfer of, or contract to assign or transfer, an interest in real or personal property, or written waiver of the right to disclaim the succession to an interest in real or personal property, by any beneficiary, or any sale or other disposition of an interest in real or personal property pursuant to judicial process, made before he has disclaimed, as herein provided, bars the right otherwise hereby conferred on such beneficiary to disclaim as to such interest.
Added by Laws 1973, c. 159, § 6.
2023 Oklahoma Statutes › Title 60. Property › §60-757. Spendthrift provisions - Binding effect of disclaimer - Spouse of disclaimant.

The right to disclaim granted by this act shall exist irrespective of any limitation imposed on the interest of the disclaimant in the nature of an express or implied spendthrift provision or similar restriction. A disclaimer, when filed as provided in this act, or a written waiver of the right to disclaim, shall be binding upon the disclaimant or beneficiary so waiving and all parties thereafter claiming by, through or under him, except that a beneficiary so waiving may thereafter transfer, assign or release his interest if such is not prohibited by an express or implied spendthrift provision. If an interest in real estate is disclaimed and the disclaimer is duly filed in accordance with the provisions of Section 4 of this act, the spouse of the disclaimant, if such spouse has consented to the disclaimer in writing, shall thereupon be automatically debarred from any claim, right or interest in such real estate to which such spouse, except for such disclaimer, would have been entitled.
Added by Laws 1973, c. 159, § 7.
2023 Oklahoma Statutes › Title 60. Property › §60-759. Interests not fixed or finally ascertained - Right to disclaim.

Any interest which exists on the effective date of this act but which has not then become indefeasibly fixed both in quality and quantity, or the taker of which has not then become finally ascertained, may be thereafter disclaimed in the manner provided herein.
Added by Laws 1973, c. 159, § 9.
2023 Oklahoma Statutes › Title 60. Property › §60-802. Airspace defined - Provisions pertaining to aviation not affected.

For purposes of this act, airspace is defined as that space which extends from the surface of the earth upward and which is either occupied or subject to being occupied for the reasonable enjoyment and use of the land surface and any structures thereon by the surface owner or owners, his or their heirs, successors or assigns. The airspace owned by a surface owner or owners is that which lies within the vertical upward extension of his or their surface boundaries. Airspace as defined herein shall in no way be deemed to contravene, supersede, amend, modify or alter the existing powers, requirements, limitations or other provisions of statutory or common law pertaining to aviation, air transportation, air commerce, or air operations.
Added by Laws 1973, c. 199, § 2, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-803. Airspace as real property.

Airspace as defined herein is real property, and until title thereto or rights, interests or estates therein are separately transferred, airspace is the property of the person or persons holding title to the land surface beneath it, subject to the limitations relating to wind or solar energy agreements provided in Section 1 of this act.
Added by Laws 1973, c. 199, § 3, eff. Oct. 1, 1973. Amended by Laws 2010, c. 334, § 2, eff. July 1, 2010.
2023 Oklahoma Statutes › Title 60. Property › §60-804. Airspace subject to same statutes, rules of law and common law as other real property.

A. It is the purpose of this act that airspace shall be subject to being acquired, held, enjoyed, possessed, alienated, granted, sold, conveyed, exchanged, transferred, partitioned, assigned, demised, leased, released, charged, mortgaged, encumbered, assessed, devised, condemned, vacated, zoned, platted, divided, subdivided, and otherwise utilized and manipulated in the same manner, upon the same conditions and for the same uses and purposes as other real property; and airspace shall be subject to the same statutes, rules of law, and common law as other real property.
B. All of the rights, privileges, immunities, incidents, powers, remedies, burdens, servitudes, duties, liabilities, limitations and restrictions which apply to titles, estates, rights and interests in other real property shall apply to airspace.
C. No power set forth herein, however, shall alter, amend, supersede, hinder, contravene, prevent or affect the exercise of the rights, privileges and immunities otherwise granted by statutory or common law to individuals, partnerships, corporations, business associations or governmental bodies engaged in aviation, air transportation, air commerce, air operations, or to public service corporations.
Added by Laws 1973, c. 199, § 4, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-805. Titles, estates, rights and interests as pertaining to airspace.

Subject to the limitations relating to wind or solar energy agreements provided in Section 1 of this act, all forms of titles, estates, rights and interests which may presently exist or which may hereafter be created by law or equity or under statutes pertaining to real property may be legally created, transferred and conveyed in airspace, whether or not such airspace is contiguous to the surface of the earth; and the same shall constitute titles, estates, rights and interests in real property under and subject to the laws pertaining thereto.
Added by Laws 1973, c. 199, § 5, eff. Oct. 1, 1973. Amended by Laws 2010, c. 334, § 3, eff. July 1, 2010.
2023 Oklahoma Statutes › Title 60. Property › §60-806. State, governmental units, individuals, corporations, etc. as possessing same powers and duties with respect to airspace as to other property.

A. The state and all of its departments, commissions, agencies, instrumentalities, divisions, subdivisions and authorities, including all counties, municipal corporations and governmental units of any kind, shall have the same powers, rights and duties with respect to airspace as are possessed with respect to other real property.
B. All private individuals, partnerships, corporations, foundations, trustees, fiduciaries, and all other private persons whatever their legal status, shall have the same powers, rights and duties with respect to airspace as are possessed with respect to other real property.
Added by Laws 1973, c. 199, § 6, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-808. Right, title, and interest to pass at death of owner.

The right, title, interest and estate of a decedent in and to airspace shall pass at his death by testamentary disposition, or in the event of intestacy, shall pass in the same manner as provided by the laws of this state for the descent of other real property.
Added by Laws 1973, c. 199, § 8, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-809. Taxation.

All titles, estates, rights and interests in airspace are subject to taxation to the same extent and in the same manner as other real property is taxed; and for the purpose of taxation, titles, estates, rights and interests in airspace held by persons other than by the owner or owners of the land surface shall be taxed separately from the land surface and from other separately owned airspace, and the owner or owners of the land surface shall not be taxed for airspace which is not owned, nor to the extent that his or their rights therein have been diminished. Nothing contained in this section shall be construed to authorize taxation of unimproved or undeveloped airspace either by adding to the assessed valuation of the surface or by taxation on said unimproved or undeveloped airspace itself. This act shall not apply to aviation, air or space travel.
Added by Laws 1973, c. 199, § 9, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-810. Powers of state over highways, streets, bridges, etc. not extended so as to cause violations.

The powers granted under this act shall in no way extend the power of state and local authorities having jurisdiction over highways, roads, streets, alleys, bridges or rights-of-way to the point that (a) federal regulations pertaining to federal aid rights-of-way are violated, (b) constitutional limits on the power of such authorities are exceeded, or (c) the right of the public to full and unobstructed use of highways, roads, streets, alleys, bridges and rights-of-way is impaired.
Added by Laws 1973, c. 199, § 10, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-811. Joint development use plans.

A. The state and any of its political subdivisions, port authorities and turnpike authorities may join, cooperate and contract with other agencies or instrumentalities of federal, state or local governments, or with private persons, corporations, partnerships, business associations, fiduciaries or personal representatives in and for the acquisition, condemnation, purchase, lease, sale, assignment, mortgage or use of title, rights, interests and estates in airspace. This power shall include, but shall not be limited to, the joint development and multiple use of rights-of-way and adjoining property or airspace. In furtherance of such functions, the aforementioned entities and authorities shall have the following powers:
1. To do all things necessary to develop and effectuate a joint development and multiple use plan for an area which is to be developed, including the coordination of such plan and cooperation with all other affected agencies of federal, state or local governments; to collect and distribute informational material pertaining thereto; to cooperate and coordinate activities and functions with interested or affected private persons, corporations, partnerships, business associations, fiduciaries, personal representatives or groups; to employ consultants, planners and professional or advisory personnel or services; to contract with federal, state, regional or local authorities or agencies, or with private persons, corporations, partnerships, business associations or other such organizations or associations for the preparation of transportation and land use studies; and to contract for services, labor, supplies, equipment or other items with governmental authorities or private persons, corporations, partnerships, business associations, fiduciaries, personal representatives or other persons as may be necessary to effectuate the joint development and multiple use plan;
2. To apply for, accept, receive, spend and account for such funds, grants, loans, gifts and services from federal, state, regional or local governments or their instrumentalities or from private persons or from other sources as may be needed to develop and effectuate the joint development and multiple use plan; and to provide and agree to such reasonable conditions and requirements as may be necessary in connection therewith; and
3. To perform such other acts and enter into such contracts or execute such other legal documents as may be necessary or appropriate to develop, effectuate or execute the joint development and multiple use plan.
B. The state and any of its political subdivisions, port authorities and turnpike authorities may join with any other federal, state, regional or local governmental authority in the condemnation through exercise of the power of eminent domain of land or airspace in excess of that necessary for the highway, road or street right-of-way, whenever such excess condemnation is necessary and appropriate to effectuate a joint development and multiple use plan.
Added by Laws 1973, c. 199, § 11, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-812. Sale of unneeded airspace or real property.

Any governmental authority, agency or instrumentality which holds right, title, interest or estate in airspace or in other real property which is not needed for a public purpose or for public use may sell, convey or transfer the right, title, interest or estate owned by it, or any lesser right, title, interest or estate, to such persons as the laws of this state permit at public or private sale for not less than seventy-five percent (75%) of the appraised value thereof, as established by two or more disinterested, qualified appraisers. Along with transfers of unneeded airspace or real property, or right, title, interest or estate therein, the transferor may also grant or transfer easements or other rights and interests in retained airspace and real property which may be required to provide access to or support of structures erected in the transferred airspace or property.
Added by Laws 1973, c. 199, § 12, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-813. Governmental authority holding only easements for use as rights-of-way.

In situations in which a governmental authority or agency holds only an easement for use as a right-of-way over land on which is constructed a highway, street, road, alley or bridge:
1. The governmental authority or agency shall possess for and on behalf of the public the right to use such easement for highway, street, road, alley or bridge purposes with full, free and unobstructed passage over such improvement as well as the right to construct, maintain, repair, alter and remove such improvement, subject to all other laws pertaining thereto; and
2. In addition thereto, the governmental authority and agency shall possess for and on behalf of the public the right to make full use of the airspace over, under or upon said right-of-way, provided that the residual right, title, interest and estate of the owner or owners of the fee in and to the land on which said improvement exists shall not in any way be encumbered, limited or additionally burdened without just compensation being paid to such owner or owners and with the determination of such just compensation to be made in the manner provided by law for additional takings under the power of eminent domain.
Added by Laws 1973, c. 199, § 13, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-814. Right of eminent domain.

This act shall not alter, amend, repeal, modify or affect the laws of this state providing for the exercise of the power of eminent domain by public or quasi-public agencies, authorities and instrumentalities or by private persons, except as may be specifically provided herein and except that the power of eminent domain may be exercised to condemn and acquire airspace in the same manner as provided by law for the acquisition of other real property or for rights or interests in same. The procedure and rules provided by law for condemnation of real property by public or quasi-public agencies, authorities and instrumentalities and by private persons shall apply to the condemnation of airspace. Whenever more than one procedure for condemnation is provided by law and whenever there is doubt as to which procedure applies in a particular condemnation proceeding, the condemnation procedure applicable to the State Highway Commission or agency shall be followed.
Added by Laws 1973, c. 199, § 14, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-815. Laws pertaining to powers, privileges, immunities, duties and liabilities of agencies not affected.

Except as specifically provided herein, this act shall not alter, amend, repeal, modify or affect the laws of this state which pertain to the powers, privileges, immunities, duties and liabilities of authorities, agencies, instrumentalities or other such divisions or departments of state and local governments, or to improvement districts or to private persons.
Added by Laws 1973, c. 199, § 15, eff. Oct. 1, 1973.
2023 Oklahoma Statutes › Title 60. Property › §60-832. Definitions.

As used in this act:
1. "Offer to purchase" means an offer to purchase property made by a purchaser pursuant to a written contract;
2. "Seller" means one or more persons who are attempting to transfer a possessory interest in property and who are either:
a.
represented by a real estate licensee; or
b.
not represented by a real estate licensee but receive a written request from the purchaser to deliver or cause to be delivered a disclaimer statement or disclosure statement as such terms are defined in paragraphs 11 and 12 of this section;
3. "Purchaser" means one or more persons who are attempting to acquire a possessory interest in property;
4. "Real estate licensee" means a person licensed under the Oklahoma Real Estate License Code;
5. "Transfer" means a sale or conveyance, exchange or option to purchase by written instrument of a possessory interest in property for consideration;
6. "Person" means an individual, corporation, limited liability company, partnership, association, trust or other legal entity or any combination thereof;
7. "Contract" means a real estate purchase contract for the sale, conveyance or exchange of property, option to purchase property, or a lease with an option to purchase property;
8. "Property" means residential real property improved with not less than one nor more than two dwelling units;
9. "Defect" means a condition, malfunction or problem that would have a materially adverse effect on the monetary value of the property, or that would impair the health or safety of future occupants of the property;
10. "Disclosure" means a written declaration required by this act based on actual knowledge of the seller regarding certain physical conditions of the property. A disclosure for purposes of this act is not a warranty, implied or express, of any kind;
11. "Disclaimer statement" means the statement described in paragraph 1 of subsection A of Section 3 of this act; and
12. "Disclosure statement" means the statement described in paragraph 2 of subsection A of Section 3 of this act.
Added by Laws 1994, c. 198, § 2, eff. July 1, 1995.
2023 Oklahoma Statutes › Title 60. Property › §60-834. Delivery of statements.

A. A seller should deliver either the disclaimer statement or disclosure statement to the purchaser as soon as practicable, but in any event it shall be delivered before acceptance of an offer to purchase.
B. If the disclaimer statement or disclosure statement is delivered to the purchaser after an offer to purchase has been made, the offer to purchase shall be accepted only after the purchaser has acknowledged receipt of the disclaimer statement or disclosure statement and confirmed the offer to purchase.
C. If the seller becomes aware of a defect after delivery to the purchaser of either a disclaimer statement or a disclosure statement, then the seller shall promptly deliver to the purchaser either a disclosure statement or an amended disclosure statement which discloses the newly discovered defect. The disclosure statement or any amendment shall be in writing and shall be signed and dated by the seller. However, if the required document is delivered to the purchaser after an offer to purchase has been made, the offer to purchase shall be accepted only after the purchaser has acknowledged receipt of the required document and confirmed the offer to purchase.
D. The purchaser shall acknowledge in writing receipt of the disclaimer statement or the disclosure statement and any amendment to the disclosure statement. The purchaser shall sign and date any acknowledgment. Such acknowledgment should accompany the offer to purchase the property. If the purchaser confirms the offer to purchase, such confirmation shall be in writing, shall be signed and dated by the purchaser and shall be promptly delivered to the seller.
Added by Laws 1994, c. 198, § 4, eff. July 1, 1995.
2023 Oklahoma Statutes › Title 60. Property › §60-835. Limitation of seller's liability.

A. The seller shall not be liable for a defect or other condition in the property if the existence of the defect or other condition in the property was disclosed in the disclosure statement or any amendment delivered to the purchaser before acceptance of the offer to purchase.
B. The seller shall not be liable for any erroneous, inaccurate or omitted information supplied to the purchaser as a disclosure required by this act if:
1. The error, inaccuracy or omission results from an approximation of information by the seller, provided:
a.
accurate information was unknown to the seller at the time the disclosure was made,
b.
the approximation was clearly identified as such and was reasonable and based on the best information available to the seller, and
c.
the approximation was not used to circumvent the disclosure requirements of this act;
2. The error, inaccuracy or omission was not within the actual knowledge of the seller; or
3. The disclosure was based on information provided by public agencies and the seller reasonably believed the information to be correct.
C. The delivery by a public agency of any information required to be disclosed by the seller of the property shall satisfy the requirements of this act as to the disclosures to which the information being furnished is applicable.
Added by Laws 1994, c. 198, § 5, eff. July 1, 1995.
2023 Oklahoma Statutes › Title 60. Property › §60-836. Duties of real estate licensee.

A. A real estate licensee representing or assisting a seller has the duty to obtain from the seller a disclaimer statement or a disclosure statement and any amendment required by the Residential Property Condition Disclosure Act and to make such statement available to potential purchasers prior to acceptance of an offer to purchase.
B. A real estate licensee representing or assisting a purchaser has the duty to obtain and make available to the purchaser a disclaimer statement or a disclosure statement and any amendment required by the Residential Property Condition Disclosure Act prior to the acceptance of an offer to purchase.
C. A real estate licensee has the duty to disclose to the purchaser any defects in the property actually known to the licensee which are not included in the disclosure statement or any amendment.
D. A real estate licensee who has complied with the requirements of subsections A, B and C of this section, as applicable, shall have no further duties to the seller or the purchaser regarding any disclosures required under the Residential Property Condition Disclosure Act.
A real estate licensee who has not complied with the requirements of subsections A, B and C of this section shall be subject to disciplinary action by the Oklahoma Real Estate Commission as set forth in paragraph 6 of Section 858-208 of Title 59 of the Oklahoma Statutes.
E. A real estate licensee has no duty to the seller or the purchaser to conduct an independent inspection of the property and has no duty to independently verify the accuracy or completeness of any statement made by the seller in the disclaimer statement or the disclosure statement and any amendment.
Added by Laws 1994, c. 198, § 6, eff. July 1, 1995. Amended by Laws 2007, c. 42, § 6, eff. Jan. 1, 2008.
2023 Oklahoma Statutes › Title 60. Property › §60-837. Remedies.

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 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.
Added by Laws 1994, c. 198, § 7, eff. July 1, 1995. Amended by Laws 2003, c. 52, § 2, eff. Nov. 1, 2003.