Limitation of seller's liability.

1. Law
2. Oklahoma Statutes
3. Property
4. Limitation of seller's liability.

A. The seller shall not be liable for a defect or other condition in the property if the existence of the defect or other condition in the property was disclosed in the disclosure statement or any amendment delivered to the purchaser before acceptance of the offer to purchase.

B. The seller shall not be liable for any erroneous, inaccurate or omitted information supplied to the purchaser as a disclosure required by this act if:

1. The error, inaccuracy or omission results from an approximation of information by the seller, provided:

• a.accurate information was unknown to the seller at the time the disclosure was made,
• b.the approximation was clearly identified as such and was reasonable and based on the best information available to the seller, and
• c.the approximation was not used to circumvent the disclosure requirements of this act;

2. The error, inaccuracy or omission was not within the actual knowledge of the seller; or

3. The disclosure was based on information provided by public agencies and the seller reasonably believed the information to be correct.

C. The delivery by a public agency of any information required to be disclosed by the seller of the property shall satisfy the requirements of this act as to the disclosures to which the information being furnished is applicable.

Added by Laws 1994, c. 198, § 5, eff. July 1, 1995.

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