SB 198
Property; authorizing use of certain contingency for certain real estate contracts. Effective date.
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill modifies Oklahoma’s real estate contract law to allow buyers to utilize a specific contingency – the ‘financing contingency’ – in more situations. Currently, the financing contingency protects buyers if they cannot secure a mortgage. This bill expands the circumstances under which a buyer can rely on this contingency, providing greater security in real estate transactions. The bill also sets an effective date for the changes.
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