Environmental
Mold in a property is a material defect that must be disclosed under Oklahoma's:
AZoning ordinances
BResidential Property Condition Disclosure Act✓ Correct
CEnvironmental Protection Act only
DBuilding code violations list
Explanation
Known mold conditions are material defects that sellers must disclose under Oklahoma's Residential Property Condition Disclosure Act. Mold can cause health problems and significant property damage, making it a fact that materially affects a property's value or desirability.
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Related Oklahoma Questions
- The Oklahoma Residential Property Condition Disclosure Act requires sellers to:Contracts
- Oklahoma's Residential Property Condition Disclosure Act requires sellers to complete a disclosure form addressing:Property Ownership
- An Oklahoma residential seller is legally required to disclose which of the following on the Residential Property Condition Disclosure form?Contracts
- The Oklahoma Residential Property Condition Disclosure Act applies to which type of property?Oklahoma License Law
- Oklahoma's Residential Property Condition Disclosure form must be completed by the seller and delivered to the buyer:Contracts
- Oklahoma's 'right to know' laws require sellers of residential property to disclose:Environmental
- Oklahoma uses a standard residential purchase contract that typically includes a seller's property condition disclosure. This disclosure requirement is based on:Contracts
- Under the Oklahoma Residential Landlord and Tenant Act, a landlord's failure to maintain the premises in a habitable condition may allow the tenant to:Property Management
Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DepreciationA reduction in the value of an improvement (building) over time due to physical deterioration, functional obsolescence, or external factors.
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