§ 2. Homestead--Area and value--Indian allottees--Temporary renting
Oklahoma Statutes AnnotatedTitle 31. Homestead and Exemptions
31 Okl.St.Ann. § 2
§ 2. Homestead--Area and value--Indian allottees--Temporary renting
B. Effective November 1, 1997, the homestead of any person in this state, not within any city or town, annexed by a city or town on or after November 1, 1997, owned and occupied and used for both residential and commercial agricultural purposes shall consist of not more than one hundred sixty (160) acres of land, which may be in one or more parcels, to be selected by the owner.
For purposes of this subsection, at least seventy-five percent (75%) of the total square foot area of the improvements for which a homestead exemption is claimed must be used as the principal residence in order to qualify for the exemption. If more than twenty-five percent (25%) of the total square foot area of the improvements for which a homestead exemption is claimed is used for business purposes, the homestead exemption amount shall not exceed Five Thousand Dollars ($5,000.00).
Credits
R.L.1910, § 3343; Laws 1980, c. 342, § 2, emerg. eff. June 25, 1980; Laws 1997, c. 104, § 2, eff. Nov. 1, 1997; Laws 1997, c. 345, § 2, eff. Nov. 1, 1997.
31 Okl. St. Ann. § 2, OK ST T. 31 § 2
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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