{"data":{"id":"us-ok/okla.-stat.-tit.-11-11-39-120","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 11, § 11-39-120","heading":"Sale of property by trustee","body":"A. After expiration of the period of redemption of the tract or\n\nparcel of land foreclosed, the trustee may apply to the district\n\ncourt which ordered the property sold for an order authorizing the\n\ntrustee to sell the property at private sale.\n\nB. After the filing of the application of the trustee, the\n\ndistrict court shall appoint three (3) disinterested persons to\n\nappraise the property sought to be sold and return the appraisement\n\nto the court. After the appraisement is filed in the district\n\ncourt, the district court shall, if it deems the appraisement to be\n\nfair, enter an order authorizing and directing the trustee to sell\n\nand convey to the purchaser the tract or parcel of land being sold.\n\nThe tract or parcel of land shall not be sold at private sale except\n\nfor cash and for no less than the value determined by the\n\nappraisers.\n\nC. If the trustee is unable to sell the tract or parcel of land\n\nat its appraised value, the trustee may apply to the district court\n\nwhich ordered the property sold for an order authorizing the trustee\n\nto sell for cash the tract or parcel of land foreclosed to the\n\nhighest and best bidder subject to the approval of the district\n\ncourt. If the court determines that the property cannot be sold at\n\nits appraised value, the court may enter an order directing the\n\npublic sale of the property.\n\nD. After the sale of the foreclosed tract or parcel of land at\n\neither a private sale or a public sale, approved by the court, the\n\ntrustee shall:\n\n1. Deduct the costs of the sale and costs taxed against the\n\ntract or parcel of land in the sale proceedings; and\n\n2. Pay the remainder of the proceeds into the proper district\n\nfund for payment of the interest and the bonds. In case of the sale\n\nof any tract or parcel of land subject to more than one delinquent\n\nassessment, such remaining proceeds shall be distributed into the\n\nproper district funds for such payment pro rata based upon the total\n\nunpaid amount due each such district.","path":["OK Code","Title 11"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os11.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"7c9e8d238bb31fce42cab63927e47359e73f767becb53f48a92898606a11e3bd","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-11-11-39-119","next":"us-ok/okla.-stat.-tit.-11-11-39-121"},"notice":"GroundRules: Original legal text. Not legal advice."}