Home Table of Contents

§ 851. Nature of developments

Oklahoma Statutes AnnotatedTitle 60. Property

Oklahoma Statutes Annotated
Title 60. Property (Refs & Annos)
Chapter 17. Real Estate Development
60 Okl.St.Ann. § 851
§ 851. Nature of developments
Currentness
The term “real estate development” shall include developments:
1. Which consist or will consist of separately owned lots, parcels or areas with either or both of the following features:
a. One or more additional contiguous or noncontiguous lots, parcels or areas owned in common by the owners of the separately owned lots, parcels or areas.
b. Mutual, common or reciprocal interests in or restrictions upon, all or portions of such separately owned lots, parcels or areas, or both.
2. The estate in a separately or commonly owned lot, parcel or area may be an estate of inheritance, estate in fee, an estate for life, or an estate for years.
Either common ownership of the additional contiguous or noncontiguous lots, parcels or areas referred to in subparagraph a. of paragraph 1. above, or the enjoyment of the mutual, common or reciprocal interests in, or restrictions upon the separately owned lots, parcels or areas pursuant to subparagraph b. of paragraph 1. above, or both, may be through ownership of shares of stock or membership in an owners association or otherwise.

Credits

Laws 1975, c. 292, § 1, emerg. eff. June 5, 1975.
60 Okl. St. Ann. § 851, OK ST T. 60 § 851
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document