Okla. Stat. tit. 58, § 58-385.1
This is the official text of Okla. Stat. tit. 58, § 58-385.1, part of Oklahoma’s Stat. tit. 58, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 58,." Browse the sections below, each linked to its official government source.
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Verified petition by guardian - Contents - Limitations
Official statutory text
To obtain an order for mortgaging such real estate for the
purpose and under the provisions hereof, the guardian must present a
verified petition to the district court or to the judge thereof,
setting forth a description of the property, real and personal, on
hand and undisposed of, the legally established lien or the
obligation which may by operation of law become a lien; the amount
of the lien or the amount of the obligation which may by operation
of law become a lien, the names and addresses of all parties
interested in the estate of the minor, incompetent or mentally ill
person, and the specific reasons why it will be to the best interest
of the said estate to mortgage, rather than sell such real estate,
or a part thereof.
Such authority shall not be given or order made therefor, and no
mortgage on any real estate shall be made, given, executed or
delivered under the provisions hereof, for an amount in excess of
two-thirds (2/3) of the appraised value thereof, as established by
an appraisal made by three disinterested citizens of the county
within one (1) year of the time of making such order to mortgage.
purpose and under the provisions hereof, the guardian must present a
verified petition to the district court or to the judge thereof,
setting forth a description of the property, real and personal, on
hand and undisposed of, the legally established lien or the
obligation which may by operation of law become a lien; the amount
of the lien or the amount of the obligation which may by operation
of law become a lien, the names and addresses of all parties
interested in the estate of the minor, incompetent or mentally ill
person, and the specific reasons why it will be to the best interest
of the said estate to mortgage, rather than sell such real estate,
or a part thereof.
Such authority shall not be given or order made therefor, and no
mortgage on any real estate shall be made, given, executed or
delivered under the provisions hereof, for an amount in excess of
two-thirds (2/3) of the appraised value thereof, as established by
an appraisal made by three disinterested citizens of the county
within one (1) year of the time of making such order to mortgage.
Status: in_force · Read it on the official government site
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