{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-2a-527","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-2A-527","heading":"Lessor's rights to dispose of goods","body":"LESSOR'S RIGHTS TO DISPOSE OF GOODS\n\n(1) After a default by a lessee under the lease contract of the\n\ntype described in subsection (1) of Section 2A-523 of this title or\n\nparagraph (a) of subsection (3) of Section 2A-523 of this title or\n\nafter the lessor refuses to deliver or takes possession of goods\n\n(Section 2A-525 or 2A-526 of this title), or, if agreed, after other\n\ndefault by a lessee, the lessor may dispose of the goods concerned\n\nor the undelivered balance thereof by lease, sale, or otherwise.\n\n(2) Except as otherwise provided with respect to damages\n\nliquidated in the lease agreement (Section 2A-504 of this title) or\n\notherwise determined pursuant to agreement of the parties\n\n(subsection (c) of Section 15 of this act and Section 2A-503 of this\n\ntitle), if the disposition is by lease agreement substantially\n\nsimilar to the original lease agreement and the new lease agreement\n\nis made in good faith and in a commercially reasonable manner, the\n\nlessor may recover from the lessee as damages:\n\n(i) accrued and unpaid rent as of the date of the\n\ncommencement of the term of the new lease agreement,\n\n(ii) the present value, as of the same date, of the total\n\nrent for the then remaining lease term of the original\n\nlease agreement minus the present value, as of the\n\nsame date, of the rent under the new lease agreement\n\napplicable to that period of the new lease term which\n\nis comparable to the then remaining term of the\n\noriginal lease agreement, and\n\n(iii) any incidental damages allowed under Section 2A-530 of\n\nthis title, less expenses saved in consequence of the\n\nlessee's default.\n\n(3) If the lessor's disposition is by lease agreement that for\n\nany reason does not qualify for treatment under subsection (2) of\n\nthis section, or is by sale or otherwise, the lessor may recover\n\nfrom the lessee as if the lessor had elected not to dispose of the\n\ngoods and Section 2A-528 of this title governs.\n\n(4) A subsequent buyer or lessee who buys or leases from the\n\nlessor in good faith for value as a result of a disposition under\n\nthis section takes the goods free of the original lease contract and\n\nany rights of the original lessee even though the lessor fails to\n\ncomply with one or more of the requirements of this article.\n\n(5) The lessor is not accountable to the lessee for any profit\n\nmade on any disposition. A lessee who has rightfully rejected or\n\njustifiably revoked acceptance shall account to the lessor for any\n\nexcess over the amount of the lessee's security interest (subsection\n\n(5) of Section 2A-508 of this title).","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"becffc6fec1a61f7fb3d19f145e6b4994fed59537e7cacf63b5de51973ac21aa","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-2a-526","next":"us-ok/okla.-stat.-tit.-12a-12a-2a-528"},"notice":"GroundRules: Original legal text. Not legal advice."}