This form is a Seller's Disclaimer Statement for use in a residential sales transaction in Oklahoma. This disclaimer statement may be used by the Seller instead of a Disclosure statement.
Oklahoma Residential Real Estate Disclaimer Statement
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How to fill out Oklahoma Residential Real Estate Disclaimer Statement?
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FAQ
It allows seller to avoid liability for failing to disclose defects in premises when each party is acting in its own interest and/or seller is not willfully or actively hiding a defect.
You want potential buyers to see your home at its best, so you might wonder whether you really need to disclose every little thing that's wrong with it. Some material defects must be disclosed by law, and if you lie about other detailsand your lie is discovered during an inspectionyou could lose your buyer.
If you live in a non-disclosure state, it means that sale prices in a real estate transaction are not disclosed or recorded as public record. If you want to know a sale price of a home, you'd have to ask the seller directly or work with a real estate professional who has access to the Multiple Listing Service (MLS).
A real estate broker or licensee also has specific duties outlined in Oklahoma's Condition Disclosure Act. A seller's real estate broker is required to obtain the disclaimer statement or the disclosure statement from the seller as well as any amendments the seller makes, 60 O.S. §836(A).
The Property Condition Disclosure Act requires the seller of residential real property to cause this disclosure statement or a copy thereof to be delivered to a buyer or buyer's agent prior to the signing by the buyer of a binding contract of sale.
State Stigmatized Property Disclosure Law:Oklahoma does not consider a prior death in the home, even where the cause of death is homicide or suicide, to be a material fact that must be disclosed.
Dornfest says 37 states now have full disclosure; six states (Arkansas, Delaware, North Carolina, Oklahoma, Rhode Island and Tennessee) have transfer tax; and he classifies seven states as nondisclosure: Alaska, Idaho, Louisiana, Mississippi, Missouri, Texas and Utah.
But, there are 12 states that are still considered non-disclosure: Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming.