Oklahoma Residential Real Property- Measure of Damages is the amount of money awarded to someone who has suffered a loss due to another party’s negligence or breach of contract. This measure of damages applies to residential real estate, such as a single-family home, condo, or other residential property located in Oklahoma. Under Oklahoma law, the measure of damages is determined based on the fair market value of the property, the cost of repairs, the consequential damages resulting from the loss, and the diminished value of the property resulting from the loss. There are four main types of Oklahoma Residential Real Property- Measure of Damages: market value, cost of repairs, consequential damages, and diminished value.
Oklahoma Residential Real Property- Measure of Damages
Category:
State:
Oklahoma
Control #:
OK-JURY-30-4-CV
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Word
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Description
Residential Real Property- Measure of Damages
Oklahoma Residential Real Property- Measure of Damages is the amount of money awarded to someone who has suffered a loss due to another party’s negligence or breach of contract. This measure of damages applies to residential real estate, such as a single-family home, condo, or other residential property located in Oklahoma. Under Oklahoma law, the measure of damages is determined based on the fair market value of the property, the cost of repairs, the consequential damages resulting from the loss, and the diminished value of the property resulting from the loss. There are four main types of Oklahoma Residential Real Property- Measure of Damages: market value, cost of repairs, consequential damages, and diminished value.
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