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Oklahoma · Snapshot open-us-law v2026.08, retrieved 2026-09-14

Okla. Stat. tit. 12, § 12-1147.5: Trust in proceeds of sale

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Where this section sits in the code
  1. OK Code
  2. Title 12

Upon confirming the sale of real estate under the provisions of

Section 1147.4 of this title, the court shall direct that the

proceeds of the sale, including any purchase money mortgage which

may be accepted as a part of the purchase price, less any costs

chargeable against the same, constitute a trust to be managed and

invested under the continuing jurisdiction of the court and, except

as may be otherwise directed by the court, in accordance with the

provisions of the Oklahoma Trust Act and the Oklahoma Uniform

Prudent Investor Act. The trustee appointed to make said sale may

be continued as trustee for the administration of the trust or the

court may appoint a different trustee for the purpose of

administering the trust. In the order of confirmation of sale and

the appointment of the trustee to administer the trust, the court

shall make appropriate provisions with respect to the term during

which the trust shall be administered and how the income and

principal thereof shall be distributed.

Collected 2026-09-14T18:32:36Z. Source file · JSON

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