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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 91126
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Oklahoma real estate law? If i close on a commercial real estate

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Oklahoma real estate law? If i close on a commercial real estate property and i have imidiate posetion of the property but the owner still has equpiment and a business running in it, how long do i have to give him to move out if it is not specified in any contracts. i would like any documented info on oklahoma real estate about this.
Submitted: 1 year ago.
Category: Legal
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

Once you sign the closing, the property is your property. If the seller is not out of the property, you serve him with a 5 day notice to quit the premises for non-payment of rents (since when a person overstays after a sale they are supposed to pay rent to the new owner) and if he has not vacated in the 5 days, you would file suit against him to evict. Oklahoma law Title 41 sec. 7 says that if the tenant is on a month to month lease and has failed to pay rent, then only a 5 day written notice to vacate is necessary and then you can sue for eviction.



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Customer: replied 1 year ago.
Maybe i was not clear enough, because the answer doesn't soundquite right. The person with the business is the seller of the real estate not a rentor. i have not agreed to rent the building. originally he made a verble agreement with me on the equipment and good will and then began moving some of the assets out. the closing on the real estate in coming up soon but i am considering not buying the business or assets just the real estate. if i back out at the last minute on the good will and equipment because of his dishonesty and buy only the real estate, what that leave me to move him out. nothing has been signed yet on the business only the real estate.
Customer: replied 1 year ago.
Relist: Answer quality.
Customer: replied 1 year ago.
He has also already signed a no comp adendum when he signed the real estate contract. so i assume he can not do any business after closing?
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your response. I apologize for the delay in responding, but we have had some severe technical site issues that have stopped my ability to answer questions. I thank you for your patience and understanding.

I am sorry that I was not clear enough. When a seller sells a property and they do not move out upon the signing of the closing, unless another date is agreed upon, they are treated by law as a "tenant at sufferance" meaning they become a tenant of your property against your will. This is why you treated this matter just like they were a renter, because they are considered now a tenant as they do not own the property and you must evict them from the premises.

I did misunderstand and thought you signed the closing already. If you did not sign the closing yet, it is still his building and he can stay up to the day you sign the closing and he has to be out by that time.

If your written agreement was that equipment would be left and he is selling it off or removing it, this is a breach of contract and it can be grounds for you to seek to void the contract if you choose to do so.

As he has signed a non-compete agreement, once the sale is complete he could not compete against you in business and if he does so that is grounds to sue for damages and even attorney's fees.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 91126
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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