Okla. Stat. tit. 58, § 58-385b
This is the official text of Okla. Stat. tit. 58, § 58-385b, 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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Petition - Contents - Time for filing - Limitations
Official statutory text
To obtain an order for mortgaging such real estate for the
purpose and under the provisions hereof, the administrator or
executor 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 debts outstanding and unpaid, the legally ordered family
allowance due and unpaid, if any, the amount of the charges and
expenses of administration, the names and addresses of the heirs,
devisees and legatees of the decedent, and the specific reason why
it will be to the best interest of said estate to mortgage, rather
than to sell, such real estate or a part thereof. Such petition to
mortgage shall not be filed and the authority therefor shall not be
given or order therefor made, until after the time within which to
present claims has expired. 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 administrator or
executor 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 debts outstanding and unpaid, the legally ordered family
allowance due and unpaid, if any, the amount of the charges and
expenses of administration, the names and addresses of the heirs,
devisees and legatees of the decedent, and the specific reason why
it will be to the best interest of said estate to mortgage, rather
than to sell, such real estate or a part thereof. Such petition to
mortgage shall not be filed and the authority therefor shall not be
given or order therefor made, until after the time within which to
present claims has expired. 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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