Okla. Stat. tit. 58, § 58-485: Sale of land subject to mortgage
Where this section sits in the code
- OK Code
- Title 58
When any sale is made by an executor or administrator, pursuant
to the provisions of this chapter, of lands subject to any mortgage
or other lien, which is a valid claim against the estate of the
decedent and has been presented and allowed, the purchase money must
be applied, after paying the necessary expenses of the sale, first
to the payment and satisfaction of the mortgage or lien, and the
residue, if any, in due course of administration. The application
of the purchase money to the satisfaction of the mortgage or lien
must be made without delay; and the land is subject to such mortgage
or lien until the purchase money has been actually so applied. No
claim against any estate which has been presented and allowed is
affected by the statute of limitations, pending the proceedings for
the settlement of the estate. The purchase money, or so much
thereof as may be sufficient to pay such mortgage or lien, with
interest, and any lawful costs and charges thereon, may be paid into
the district court, to be received by the judge thereof, whereupon
the mortgage or lien upon the land must cease, and the purchase
money must be paid over by the judge without delay, in payment of
the expenses of the sale and in satisfaction of the debt, to secure
which the mortgage or other lien was taken, and the surplus, if any,
at once returned to the executor or administrator, unless, for good
cause shown, after notice to the executor or administrator, the
judge otherwise directs.
Collected 2026-09-14T18:32:36Z. Source file · JSON