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OK SB198

Bill

Official Source

Status

Passed

5/15/2025

Primary Sponsor

Michael Brooks

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Municipalities, counties, and the state of Oklahoma may include contingency clauses of up to 180 days in real estate contracts for sales, conveyances, exchanges, purchase options, or lease-to-own agreements

  • Contingencies are permitted for securing required permits, lot changes, zoning changes, and other land use approvals necessary to use and operate the property

  • Creates new sections in Oklahoma Statutes: Section 43-116 of Title 11 (municipalities), Section 865.70 of Title 19 (counties), and Section 110.6 of Title 74 (state)

  • Effective date: November 1, 2025

Legislative Description

Property; authorizing use of certain contingency for certain real estate contracts. Effective date.

Last Action

Becomes law without Governor's signature 05/15/2025

5/15/2025

Committee Referrals

Civil Judiciary4/1/2025
Judiciary and Public Safety Oversight4/1/2025
Judiciary2/4/2025

Full Bill Text

No bill text available