Oklahoma HOA and Condo Laws, in Plain English

The Unit Ownership Estate Act, Oklahoma's original condominium statute dating to 1963, governs the creation and recording of unit ownership estates, in which an owner holds title to an individual unit together with an undivided interest in the common elements. It covers governance through a council of unit owners and bylaws, use and maintenance of common elements, assessment of taxes and common expenses, insurance, and liens for unpaid common expenses. The act does not impose a broad resale disclosure or certificate requirement, but it does give a buyer the right to a statement of a unit's unpaid assessments, addressed in Section 525.

• 60 O.S. 525 (Liability for unpaid common expenses on conveyance)

  The grantee of a unit is jointly and severally liable with the grantor for the grantor's unpaid assessments for common expenses up to the conveyance, but is entitled to a statement from the manager or board of managers setting forth the amount of the unpaid assessments against the grantor, and neither the grantee nor the unit is liable for, or subject to a lien for, any amount beyond what the statement sets forth. No fee and no deadline are stated. Oklahoma has no resale certificate statute; this statement is the buyer's protection on a condominium resale.

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The Real Estate Development Act governs planned communities made up of separately owned lots linked by common ownership of shared areas or by mutual, common, or reciprocal covenants and restrictions, and it applies only to owners associations formed after the act took effect in 1975. It authorizes an association to manage and maintain commonly owned areas, enforce recorded covenants and restrictions, and levy assessments that can become liens on a member's lot, while requiring that new members be given written notice of the association's rules and potential financial liability. The act does not require the association to issue its own resale certificate or disclosure statement, but a related section requires the closing title company to furnish the buyer a copy of the development's recorded covenants and restrictions.

• 60 O.S. 857 (Request for Copy of Recorded Covenants and Restrictions)

  Requires the title company closing the sale of property in a real estate development to provide the buyer, before or at closing, by mail, hand delivery, or electronic delivery, a copy or certified copy of all the recorded covenants and restrictions of the development, for a charge to the buyer of no more than $25. The duty and the fee limit fall on the title company, not the owners association; the Real Estate Development Act imposes no resale certificate, disclosure, or statement of unpaid assessments duty on the association.

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