Okla. Stat. tit. 58, § 58-385d
This is the official text of Okla. Stat. tit. 58, § 58-385d, 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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Order to borrow money and mortgage realty - Execution of
Official statutory text
notes and mortgage - Additional bond.
Oklahoma Statutes - Title 58. Probate Procedure Page 74
Upon such hearing, if the court is satisfied that it is for the
best interest of the estate and to the owners of such real estate he
may make an order authorizing the administrator or executor to
borrow money, make, execute and deliver a note or notes therefor and
to make, execute and deliver a real estate mortgage securing the
same, in such amount, at such rate of interest and upon such terms
and conditions as the court may prescribe and may, if he deems it
advisable require an additional bond as in the case of the sale of
real estate. After the order of the court authorizing the same is
made, the administrator or executor may make and execute the note or
notes and mortgage and shall then present the same to the district
court who shall examine the same, and if they appear to be in
conformity to law and the order of the court, the judge of the
district court shall endorse his approval on the face of the
mortgage. Thereafter the administrator or executor may proceed to
close the loan by receiving the funds so borrowed and by delivering
the note or notes and mortgage. All such notes and mortgages shall
be valid and binding obligations against the estate and against the
real estate so mortgaged in accordance with the terms and conditions
of such mortgage.
Oklahoma Statutes - Title 58. Probate Procedure Page 74
Upon such hearing, if the court is satisfied that it is for the
best interest of the estate and to the owners of such real estate he
may make an order authorizing the administrator or executor to
borrow money, make, execute and deliver a note or notes therefor and
to make, execute and deliver a real estate mortgage securing the
same, in such amount, at such rate of interest and upon such terms
and conditions as the court may prescribe and may, if he deems it
advisable require an additional bond as in the case of the sale of
real estate. After the order of the court authorizing the same is
made, the administrator or executor may make and execute the note or
notes and mortgage and shall then present the same to the district
court who shall examine the same, and if they appear to be in
conformity to law and the order of the court, the judge of the
district court shall endorse his approval on the face of the
mortgage. Thereafter the administrator or executor may proceed to
close the loan by receiving the funds so borrowed and by delivering
the note or notes and mortgage. All such notes and mortgages shall
be valid and binding obligations against the estate and against the
real estate so mortgaged in accordance with the terms and conditions
of such mortgage.
Status: in_force · Read it on the official government site
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