Okla. Stat. tit. 16, § 16-11A
This is the official text of Okla. Stat. tit. 16, § 16-11A, part of Oklahoma’s Stat. tit. 16, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 16,." Browse the sections below, each linked to its official government source.
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Constructive mortgage - Exemptions
Official statutory text
All contracts for deed for purchase and sale of real property
made for the purpose or with the intention of receiving the payment
of money and made for the purpose of establishing an immediate and
continuing right of possession of the described real property,
whether such instruments be from the debtor to the creditor or from
the debtor to some third person in trust for the creditor, shall to
that extent be deemed and held mortgages, and shall be subject to
the same rules of foreclosure and to the same regulations,
restraints and forms as are prescribed in relation to mortgages. No
foreclosure shall be initiated, nor shall the court allow such
Oklahoma Statutes - Title 16. Conveyances Page 6
proceedings, unless the documents have been filed of record in the
county clerk's office, and mortgage tax paid thereon, in the amount
required for regular mortgage transactions. Provided, however,
mutual help and occupancy agreements executed by an Indian housing
authority created pursuant to Section 1057 of Title 63 of the
Oklahoma Statutes shall not be considered to be mortgages or
contracts for deed under the provisions of this section.
made for the purpose or with the intention of receiving the payment
of money and made for the purpose of establishing an immediate and
continuing right of possession of the described real property,
whether such instruments be from the debtor to the creditor or from
the debtor to some third person in trust for the creditor, shall to
that extent be deemed and held mortgages, and shall be subject to
the same rules of foreclosure and to the same regulations,
restraints and forms as are prescribed in relation to mortgages. No
foreclosure shall be initiated, nor shall the court allow such
Oklahoma Statutes - Title 16. Conveyances Page 6
proceedings, unless the documents have been filed of record in the
county clerk's office, and mortgage tax paid thereon, in the amount
required for regular mortgage transactions. Provided, however,
mutual help and occupancy agreements executed by an Indian housing
authority created pursuant to Section 1057 of Title 63 of the
Oklahoma Statutes shall not be considered to be mortgages or
contracts for deed under the provisions of this section.
Status: in_force · Read it on the official government site
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