STATE OF OKLAHOMA

1st Session of the 54th Legislature (2013)

SENATE BILL 1069	By:	Loveless

AS INTRODUCED

An Act relating to property disclosures; requiring disclosure of public or private streets when selling real property; providing alternate means of making disclosures; making buyer responsible for verification of disclosure; construing provision for certain licensees; providing for codification; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 858-515 of Title 59, unless there is created a duplication in numbering, reads as follows:
Any person licensed under the Oklahoma Real Estate License Code shall be required to disclose information to a potential buyer of real property regarding whether or not the streets, roads or other ingress and egress means to the real property, and in the subdivision where the subject real property is located, if applicable, are private or public for purposes of maintenance, repairs, upkeep and costs.  The disclosure requirement of this section is deemed accomplished by the written statement of the seller of real property made on the seller's required property disclosure statement, or in the alternative the seller may provide other written private or public documentation, including, but not limited to, any homeowner association statement, declaration, minute or assessment, any governmental document, or a copy of any notation on the plan or plat or from the covenants and restrictions, or by a written statement by the builder, developer, previous property owner or an adjoining property owner, or any person with knowledge of actual maintenance, repairs, costs or assessments for such streets or roads on, adjacent to or adjoining the property.  The buyer shall be responsible to verify the accuracy of the disclosure.  The disclosure requirement in this section shall not be construed as imposing a duty upon a person licensed by the Oklahoma Real Estate License Code to verify whether any street, road or other ingress or egress means to real property is public, private or that a disclosure provided in compliance with this section is true.
SECTION 2.  This act shall become effective November 1, 2013.

54-1-919	 NP	1/17/2013 7:12:41 PM