{"data":{"id":"us-ok/okla.-stat.-tit.-63-63-2903","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 63, § 63-2903","heading":"Lien against property - Foreclosure - Repayment of loan","body":"A. The State of Oklahoma through the Department shall have a\n\nlien against the property on which the work is being performed for\n\nthe amount of the loan plus interest thereon. The Department shall\n\nrecord a notice of lien with the county clerk where the property is\n\nlocated. A delinquent installment of the loan may be foreclosed by\n\nthe Department and the property concerned shall be sold in the\n\nmanner provided for foreclosures of mortgages on land. Any real\n\nestate sold under any order, judgment or decree of court to satisfy\n\nthe lien may be redeemed by the owner or his assignee at any time\n\nwithin one (1) year of the date of the sale by paying to the\n\npurchaser thereof or his assignee the amount paid with interest from\n\nthe date of purchase at the rate of twelve percent (12%) per year.\n\nB. Repayment of each loan shall be determined according to a\n\nrepayment schedule determined by the Department.\n\nC. Repayment of the loan may be deferred until that time when\n\nthe loan recipient sells the property or ownership is transferred.\n\nIn such cases where a loan has not been repaid after ten (10) years,\n\nanother ten-year extension shall be granted if the loan recipient or\n\nthe surviving spouse is still the owner-occupier of the residence.\n\nSuch extensions shall be granted until such time when the property\n\nis transferred from the loan recipient or the surviving spouse to\n\nanother party.\n\nD. Loan repayments shall be made to the Oklahoma Department of\n\nCommerce and shall be deposited in the Energy Conservation Loan\n\nFund.","path":["OK Code","Title 63"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os63.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"d3e4b269ad4253bae43eaa14f8902b59d32d13a6161760ff7b18ce215b76d51b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-63-63-2902","next":"us-ok/okla.-stat.-tit.-63-63-2904"},"notice":"GroundRules: Original legal text. Not legal advice."}