{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-2-308","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-2-308","heading":"Assumption","body":"If a seller expressly agrees in writing with a subsequent buyer\n\nto accept that buyer as a primary obligor on an existing transaction\n\nin which a mortgage, deed of trust, purchase money security interest\n\narising under an installment sales contract, or equivalent\n\nconsensual security interest was created or retained in the original\n\nbuyer's principal dwelling to finance the acquisition or initial\n\nconstruction of it, before the assumption occurs the seller shall\n\nmake new disclosures to the subsequent buyer based on the remaining\n\nobligation. If the finance charge originally imposed on the\n\nexisting obligation was an add-on or discount finance charge, the\n\nseller need only disclose the unpaid balance of the obligation\n\nassumed; the total charges imposed by the seller in connection with\n\nthe assumption; the information required in the case of new\n\ndisclosures concerning prepayment, late payment, security interests\n\nand to exclude premiums for consumer credit and property and\n\nliability insurance from the finance charge; the annual percentage\n\nrate originally imposed on the obligation; and the payment schedule\n\nand total of payments based on the remaining obligation.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"6898ac8b88ef5d9dd21ba91801ac196aa69318f03d860a7c3749da3099c4d1f1","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-2-307","next":"us-ok/okla.-stat.-tit.-14a-14a-2-309"},"notice":"GroundRules: Original legal text. Not legal advice."}