Property Management
The Americans with Disabilities Act (ADA) applies to which Oklahoma properties?
AAll private residences
BPlaces of public accommodation and commercial facilities✓ Correct
COnly federally funded housing
DSingle-family rental homes only
Explanation
The ADA requires places of public accommodation (hotels, restaurants, retail stores) and commercial facilities to be accessible to persons with disabilities. Private residential housing is generally covered by the Fair Housing Act rather than ADA.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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