Okla. Stat. tit. 58, § 58-485
This is the official text of Okla. Stat. tit. 58, § 58-485, 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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Sale of land subject to mortgage
Official statutory text
When any sale is made by an executor or administrator, pursuant
to the provisions of this chapter, of lands subject to any mortgage
or other lien, which is a valid claim against the estate of the
decedent and has been presented and allowed, the purchase money must
be applied, after paying the necessary expenses of the sale, first
to the payment and satisfaction of the mortgage or lien, and the
residue, if any, in due course of administration. The application
of the purchase money to the satisfaction of the mortgage or lien
must be made without delay; and the land is subject to such mortgage
or lien until the purchase money has been actually so applied. No
claim against any estate which has been presented and allowed is
affected by the statute of limitations, pending the proceedings for
the settlement of the estate. The purchase money, or so much
thereof as may be sufficient to pay such mortgage or lien, with
interest, and any lawful costs and charges thereon, may be paid into
the district court, to be received by the judge thereof, whereupon
Oklahoma Statutes - Title 58. Probate Procedure Page 88
the mortgage or lien upon the land must cease, and the purchase
money must be paid over by the judge without delay, in payment of
the expenses of the sale and in satisfaction of the debt, to secure
which the mortgage or other lien was taken, and the surplus, if any,
at once returned to the executor or administrator, unless, for good
cause shown, after notice to the executor or administrator, the
judge otherwise directs.
to the provisions of this chapter, of lands subject to any mortgage
or other lien, which is a valid claim against the estate of the
decedent and has been presented and allowed, the purchase money must
be applied, after paying the necessary expenses of the sale, first
to the payment and satisfaction of the mortgage or lien, and the
residue, if any, in due course of administration. The application
of the purchase money to the satisfaction of the mortgage or lien
must be made without delay; and the land is subject to such mortgage
or lien until the purchase money has been actually so applied. No
claim against any estate which has been presented and allowed is
affected by the statute of limitations, pending the proceedings for
the settlement of the estate. The purchase money, or so much
thereof as may be sufficient to pay such mortgage or lien, with
interest, and any lawful costs and charges thereon, may be paid into
the district court, to be received by the judge thereof, whereupon
Oklahoma Statutes - Title 58. Probate Procedure Page 88
the mortgage or lien upon the land must cease, and the purchase
money must be paid over by the judge without delay, in payment of
the expenses of the sale and in satisfaction of the debt, to secure
which the mortgage or other lien was taken, and the surplus, if any,
at once returned to the executor or administrator, unless, for good
cause shown, after notice to the executor or administrator, the
judge otherwise directs.
Status: in_force · Read it on the official government site
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