Oklahoma § 16-202 - Rights and duties of parties

§ 16-202. Rights and duties of parties

Any contract hereafter made in this state for the purchase and

sale of realty shall be interpreted as including an agreement that

the parties shall have the following rights and duties, unless the

contract expressly provides otherwise;

(a) if, when neither the legal title nor the possession of the

subject matter of the contract has been transferred, all or a

material part thereof is destroyed without fault of this purchaser

or is taken by eminent domain, the vendor cannot enforce the

contract, and the purchaser is entitled to recover any portion of

the price that he has paid; or

(b) if, when either the legal title or the possession of the

subject matter of the contract has been transferred, all or any part

thereof is destroyed without fault of the vendor or is taken by

eminent domain, the purchaser is not thereby relieved from a duty to

pay the price, nor is he entitled to recover any portion thereof

that he has paid.

Laws 1965, c. 92, § 2.