{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-308","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-308","heading":"Assumption","body":"If a lender expressly agrees in writing with a subsequent debtor\n\nto accept that debtor as a primary obligor on an existing\n\ntransaction in which a mortgage, deed of trust, or equivalent\n\nconsensual security interest was created or retained in the original\n\ndebtor's principal dwelling to finance the acquisition or initial\n\nconstruction of it, before the assumption occurs the lender shall\n\nmake new disclosures to the subsequent debtor 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\nlender need only disclose the unpaid balance of the obligation\n\nassumed; the total charges imposed by the lender 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":"55167369d2a34c2a9fceae2070240a588ecd13369998740218abb1d5581a9cd2","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-307","next":"us-ok/okla.-stat.-tit.-14a-14a-3-309"},"notice":"GroundRules: Original legal text. Not legal advice."}