{"data":{"id":"us-ok/okla.-stat.-tit.-46-46-15","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 46, § 46-15","heading":"Holder must release - Penalty - Definitions","body":"A. Any mortgage or judgment lien on real estate shall be\n\nreleased by the holder of any such mortgage or judgment lien within\n\nthirty (30) days of the payment of the debt secured by the mortgage\n\nor judgment lien and the holder of the mortgage or judgment lien\n\nshall file the release of the mortgage or judgment lien with the\n\ncounty clerk where the mortgage or judgment lien is recorded. If,\n\nat the end of the thirty-day period, the holder has failed to\n\nrelease the mortgage or judgment lien, the mortgagor or debtor, or\n\nthe agent representing the mortgagor or debtor, may at any time\n\nrequest in writing the holder of the mortgage or judgment lien to\n\nrelease the mortgage or judgment lien and the holder of the mortgage\n\nor judgment lien shall have ten (10) days from the date of the\n\nrequest to release such mortgage or judgment lien. If the holder of\n\nthe mortgage or judgment lien fails to release the mortgage or\n\njudgment lien by the end of such ten-day period, the mortgage or\n\njudgment lien holder shall then forfeit and pay to the mortgagor or\n\ndebtor a penalty of one percent (1%) of the principal debt not to\n\nexceed One Hundred Dollars ($100.00) per day each day the release is\n\nnot recorded after the ten-day period has expired and the penalty\n\nmay be recovered in a civil action in any court having jurisdiction\n\nthereof, but the request for the release shall be in writing and\n\ndescribe the mortgage or judgment lien and premises with reasonable\n\ncertainty. Provided that, the total penalty shall not exceed one\n\nhundred percent (100%) of the total principal debt.\n\nB. A title insurance company attorney may bring action on\n\nbehalf of the mortgagor or debtor to recover the penalty described\n\nin subsection A of this section.\n\nC. For purposes of this section:\n\n1. \"Mortgagor\" shall include any subsequent purchaser of the\n\nmortgaged real estate; and\n\n2. \"Title insurance company\" shall mean a corporation or other\n\nbusiness entity authorized and licensed to transact business of\n\ninsuring titles to interests in real property in this state.\n\nR.L. 1910, § 4023. Amended by Laws 1977, c. 156, § 2, eff. Oct. 1,\n\n1977; Laws 1978, c. 92, § 1, eff. Oct. 1, 1978; Laws 1987, c. 4, §\n\n1, eff. Nov. 1, 1987; Laws 2015, c. 175, § 1, eff. Nov. 1, 2015;","path":["OK Code","Title 46"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os46.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"2f5e8d1ee9c7cf41fbdcc1ba50d4db6f70bfc432f79a5bf430404241d376e580","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-46-46-14","next":"us-ok/okla.-stat.-tit.-46-46-16"},"notice":"GroundRules: Original legal text. Not legal advice."}