Oklahoma § 60-832 Definitions.

Oklahoma Statutes

§ 60-832 — Definitions.

Oklahoma·Title 60 Property

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 o

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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.

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