Okla. Admin. Code § 605:10-15-3

Current through Vol. 42, No. 3, October 15, 2024

Section 605:10-15-3 - Requirements for furnishing psychological factors

Psychologically impacted property is any property where the existence of certain circumstances, suspicions or facts may create emotional or psychological disturbance or concerns to a prospective purchaser/lessee, with the potential of influencing a buying/leasing decision. Therefore, the obligation of a real estate licensee to obtain information as stated in Title 59, O.S., Section 858-513A(1) and (2) shall be performed in the following manner:

(1) Purchaser/lessee must be in the process of making a bona fide offer.

(2) Licensee must receive request in writing from purchaser/lessee.

(3) Purchaser's/Lessee's written request must state that such factor is important to the decision of the purchaser/lessee.

(4) Licensee shall make inquiry of the owner by submitting the written request to the owner.

(5) Licensee shall report any findings to the purchaser/lessee with the consent of the owner.

(6) If the owner refuses to furnish information requested, the licensee shall so advise the purchaser/lessee.

(7) Further, if a purchaser/lessee is requesting information as to whether or not an occupant of the real estate is, or was at any time suspected to be infected, or has been infected with Acquired Immune Deficiency Syndrome, or any other disease which falls under the privacy laws, the information can only be obtained in accordance with the Public Health and Safety Statute, Title 63, O.S., 1988, Section 1-502.2 A.

Okla. Admin. Code § 605:10-15-3

Added at 8 Ok Reg 2071, eff 7-1-91; Amended at 15 Ok Reg 3322, eff 7-13-98; Amended at 22 Ok Reg 2177, eff 7-1-05; Amended at 29 Ok Reg 1402, eff 7-1-12