§46-48. Disposition of sale proceeds.
A. The mortgagee shall apply the proceeds of the sale as follows: 1. To the costs and expenses of exercising the power of sale and of sale, including the payment of reasonable attorney’s fees actually incurred; and 2. Unless otherwise required by law, to the payment of the contract or indebtedness secured by the mortgage, […]
§46-49. Termination of power of sale proceeding.
Notwithstanding anything herein to the contrary, the mortgagee may at any time prior to the conduct of any sale under this act, terminate any power of sale proceeding and pursue judicial foreclosure in accordance with the procedures provided for the foreclosure of mortgages. Added by Laws 1987, c. 107, § 7, eff. Nov. 1, 1987.
§46-201. Citation.
This act shall be known as the “Indefinite Reference to Mortgages Act”. Laws 1965, c. 122, § 1.
§46-202. Indefinite reference to mortgage in subsequent deed or mortgage – Effect.
No indefinite reference to a mortgage in any subsequent deed or mortgage shall constitute notice of any rights of the mortgagee under such mortgage, nor put any person on inquiry with respect thereto, after the expiration of one (1) year from the date of the recording of the deed or mortgage containing such indefinite reference. […]
§46-203. Indefinite reference defined.
For the purpose of this act, a mortgage shall be considered as indefinitely referred to if unrecorded or if the book number and the page number of the records of the county clerk where such mortgage is recorded are not given in the deed or mortgage containing such reference. Laws 1965, c. 122, § 3.
§46-204. Application.
This act shall apply to indefinite references to mortgages in deeds and mortgages made before the effective date of this act as well as to those made thereafter, except that this act shall not be effective as to mortgages indefinitely referred to in deeds or mortgages now of record until one (1) year from the […]
§46-301. Foreclosure – Limitations – Cessation of lien – Extension agreements – Notice – Record marketable title – Application of act.
A. Before November 1, 2001, no suit, action or proceeding to foreclose or otherwise enforce the remedies in any mortgage, contract for deed or deed of trust shall be had or maintained after the expiration of ten (10) years from the date the last maturing obligation secured by such mortgage, contract for deed or deed […]
§46-302. Abandoned or vacated property – Motion to protect and preserve – Motion and hearing procedure.
A. Upon commencement of a suit, action or proceeding to foreclose or otherwise enforce the remedies in any mortgage, contract for deed or deed of trust in a court of competent jurisdiction, if the plaintiff/mortgagee believes, knows, or has reason to know, that the subject property is abandoned or vacated and, as a result of […]
§46-311. Short title – Oklahoma First-Time Home Buyer Savings Account Act.
This act shall be known and may be cited as the “Oklahoma First-Time Home Buyer Savings Account Act”. Added by Laws 2019, c. 186, § 1, eff. Jan. 1, 2020.
§46-41. Scope of act.
The Oklahoma Power of Sale Mortgage Foreclosure Act shall not apply to: 1. A landlord’s lien unless the parties agree in writing that this act applies; 2. A vendor’s or vendee’s lien pursuant to Sections 26 and 30 of Title 42 of the Oklahoma Statutes unless the lien is specifically created by a writing; 3. […]