§42-202. Definitions.
146 words·~1 min read·
/ok/title-42-liens/42-202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As used in this act:
1. “Commercial real estate” means any real estate other than:
a. real estate containing one to four residential units,
or
b. real estate on which no buildings or structures are
located and which is zoned for single-family
residential use.
Commercial real estate shall not include single-family residential units such as condominiums, town houses, or homes in a subdivision when sold, leased, or otherwise conveyed on a unit-by- unit basis, even though these units may be a part of a larger building or parcel of real estate containing more than four residential units;
2. “Commission” means any and all compensation which may be due a broker for performance of licensed services; and
3. “Real estate broker” shall be defined pursuant to Section 858-102 of Title 59 of the Oklahoma Statutes. Added by Laws 2006, c. 166, § 2, eff. Nov. 1, 2006.