{"data":{"id":"us-ok/okla.-stat.-tit.-46-46-48","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 46, § 46-48","heading":"Disposition of sale proceeds","body":"A. The mortgagee shall apply the proceeds of the sale as\n\nfollows:\n\n1. To the costs and expenses of exercising the power of sale\n\nand of sale, including the payment of reasonable attorney's fees\n\nactually incurred; and\n\n2. Unless otherwise required by law, to the payment of the\n\ncontract or indebtedness secured by the mortgage, the payment of all\n\nother obligations provided in or secured by the mortgage, and the\n\nobligations of any junior lienholders or encumbrancers, in order of\n\ntheir priority as otherwise provided for by law. After payment in\n\nfull to all junior lienholders and encumbrancers, payment shall be\n\nmade to the party who is the owner of the property immediately\n\npreceding the sale.\n\nB. The mortgagee may elect to deposit all or any part of the\n\nsale proceeds with the clerk of the district court in the county in\n\nwhich the sale took place. Upon deposit of such monies together\n\nwith a legal description of the property whose sale produced the\n\nproceeds, the mortgagee shall be discharged from all responsibility\n\nfor acts performed in good faith according to the provisions of this\n\nact, and the clerk shall deposit the amount with the county\n\ntreasurer subject to order of the district court in the county upon\n\nthe application, by civil action, of any interested party.","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":"dc95b7dbd4487036bd91f43b841d7c159a8006499d42a26f6318838e8cfd7c64","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-46-46-47","next":"us-ok/okla.-stat.-tit.-46-46-49"},"notice":"GroundRules: Original legal text. Not legal advice."}