Oklahoma § 60-528 - Obsolete property
Full text of Oklahoma Oklahoma Statutes § 60-528 — Obsolete property, with citation guidance and answers to common questions.
§ 60-528. Obsolete property
Ninety percent (90%) of the unit owners computed on the basis
set forth in Section 503 of this title may agree that the property
is obsolete in whole or in part and whether or not the same shall be
renewed and restored or the property sold and the proceeds of sale
distributed. If such percent of the unit owners agree to renew and
restore the property, then the expense thereof shall be payable by
all the unit owners as common expenses. If, however, such percent
of the unit owners agree that the property be sold, then the
property shall be subject to partition at the suit of any unit
owner, in which event the net proceeds of sale shall be divided
among all the unit owners in proportion to their respective
undivided ownership of the common elements, after first paying off
out of the respective shares of the unit owners, all liens on the
unit of each unit owner except a declarant not making pro rata
contributions pursuant to subsection (b) of Section 512 of this
title shall receive a reduced share of the proceeds in accordance
with the same formula described in paragraph (j) of Section 514 of
this title.
Amended by Laws 1985, c. 137, § 7, eff. Nov. 1, 1985.
Frequently Asked Questions About Oklahoma § 60-528
What does Oklahoma Statutes § 60-528 cover?
Section 60-528 ("Obsolete property") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 60-528?
A common citation format is "Oklahoma Statutes § 60-528" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 60-528 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.