Oklahoma Realtors praise property law

House Bill 2620, by Rep. Steve Martin, R-Bartlesville, and Sen. Greg Treat, R-Oklahoma City, gives municipalities greater power to deal with abandoned property, the Realtors said.
Oklahoman Published: May 24, 2014
Advertisement
;

In brief

Local Realtors praise law

The Oklahoma Association of Realtors said a measure signed Friday by Gov. Mary Fallin “will prevent cities from penalizing property owners.” House Bill 2620, by Rep. Steve Martin, R-Bartlesville, and Sen. Greg Treat, R-Oklahoma City, gives municipalities greater power to deal with abandoned property, the Realtors said.

The measure, dubbed the Protect Property Rights Act, allows municipalities to place liens on property that has been abandoned and recover fire, police and other expenses.

“It also assures municipalities do not negatively affect economic development by placing revenue-raising fees and fines on property unnecessarily, such as cases of vacant but well-maintained property,” the Realtors said.

The law was formed by a combination of measures.

“The foundation of Oklahoma’s economic development is based on the security of property ownership, and we want to make sure overbearing municipal ordinances do not impede upon that right,” said Mary Terry, president of the Realtors group. “However, we also want property that is truly abandoned and lowering the value of neighboring homes and businesses to be dealt with, and this bill meets both of those goals.”

The bill passed the House 67-27 Wednesday and the Senate Friday 34-11.

From Staff Reports