An Oklahoma licensee is asked about ownership or the landlord’s interest in a dwelling unit changes while deposits are held. What is the best answer?
Correct Answer
D) The person holding tenant deposits must either transfer them to the successor with proper accounting or return them as permitted by Title 41
41 O.S. section 115 addresses deposit handling when the landlord’s interest ceases, including transfer to a successor or return to tenants. Source basis: Oklahoma Statutes Title 41 Residential Landlord and Tenant Act, including 41 O.S. sections 115, 118, 128, 129, 130, and 132: security deposits, landlord/tenant duties, access, abandonment, and termination rules. Checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
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