Okla. Stat. tit. 42, § 42-209

This is the official text of Okla. Stat. tit. 42, § 42-209, part of Oklahoma’s Stat. tit. 42, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 42,." Browse the sections below, each linked to its official government source.

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Lien on escrow account

Official statutory text

Oklahoma Statutes - Title 42. Liens Page 72

Except as otherwise provided in this section, whenever a claim

for lien has been filed with the county clerk, and an escrow account

has been established either from the proceeds from the transaction

or any other source of funds in an amount equal to one hundred

twenty-five percent (125%) of the amount of the claim for lien, then

the lien against the commercial real estate shall be extinguished

and become a lien on the funds contained in the escrow account. The

establishment of an escrow account, as provided for in this section,

shall not be cause for any party to refuse to close the transaction.

Status: in_force · Read it on the official government site

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