Okla. Admin. Code § 660:20-9-7

Current through Vol. 42, No. 7, December 16, 2024

Section 660:20-9-7 - Standards of review

(a)Authority of Administrator. In reviewing the advertising submitted by a registrant under the Land Sales Act, the Administrator shall determine whether the submitted material makes a full and fair disclosure or is false and misleading within the intent and meaning of the law, by examining the form, language and content of the material and supporting data and any other available information as to ascertain whether the express and implied representations therein are true and make full and fair disclosure. If it does not appear that the said representations are true and fair disclosure as to all subdivided lands to which the filing relates, no order of approval will be entered and the Administrator will enter such orders or rejection or take such action as may be necessary.

(b)Implied representations and presumptions. Any inference reasonably to be drawn from advertising or promotional material will be considered to be a positive assertion unless the inference is negated therein in clear and unmistakable terms, or unless adequate safeguards have been provided by the owner to reasonably guarantee the occurrence of the thing inferred. Advertising or promotional material will be judged on the basis of the positive representations contained therein and the reasonable inferences to be drawn therefrom. Unless the contrary affirmatively appears in advertising or promotional material the following inferences will be assumed to have been intended in each case mentioned; to-wit:

(1) When homesites or building lots are advertised, the inference is that said lots are immediately usable for such purpose without any further improvement or development by the prospective purchaser and that there is an adequate potable water supply available; that the lands have been approved for installation of septic tanks or that an adequate sewage disposal system is installed; that no further major draining, fill-in or subsurface improvement is necessary to construct dwellings, except for reasonable preparation for construction; that the individual homesites or building lots are accessible by automobile without additional expense to the purchaser over existing right-of-way and that no other fact or circumstance exists to prohibit the use of the lots as a homesite or building lot.

(2) When title insurance, abstract or attorney's opinion is advertised, the inference is that the seller can and will convey fee simple title free and clear of all liens, encumbrances and defects except those which are disclosed in writing to the prospective purchaser prior to purchase.

(3) When lands are advertised as usable for any particular purpose other than homesites or building lots, the inference is that said lots or parcels are immediately accessible and usable for such purpose by purchaser without the necessity for draining, fill-in or other improvement prior to putting the lands to use for such purpose, except for reasonable preparation for construction, and that no fact or circumstance exists to prohibit the immediate use of said lands for such purposes.

(4) When any recreational facility, improvement, accommodation or privilege is advertised, the inference is that the same is on the lands at the present time and available without restriction to the purchasers of lots at no additional expense.

(5) When improvements are advertised the inference is that the same are completed.

Okla. Admin. Code § 660:20-9-7