Oklahoma § 12-63 Real estate mortgage as bond.

Oklahoma Statutes

§ 12-63 — Real estate mortgage as bond.

Oklahoma § 12-63

Title 12Civil Procedure

This text of Oklahoma § 12-63 (Real estate mortgage as bond.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12, § 12-63 (2026).

Text

In every instance in this state where bond, indemnity or guaranty is required, a first mortgage upon improved real estate within this state shall be accepted: Provided, that the amount of such bond, guaranty or indemnity shall not exceed fifty percent (50%) of the reasonable valuation of such improved real estate, exclusive of all buildings thereon; Provided, further, that where the amount of such bond, guaranty or indemnity shall exceed fifty percent (50%) of the reasonable valuation of such improved real estate, exclusive of all buildings, then such first mortgage shall be accepted to the extent of such fifty percent (50%) valuation.

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In every instance in this state where bond, indemnity or guaranty is required, a first mortgage upon improved real estate within this state shall be accepted: Provided, that the amount of such bond, guaranty or indemnity shall not exceed fifty percent (50%) of the reasonable valuation of such improved real estate, exclusive of all buildings thereon; Provided, further, that where the amount of such bond, guaranty or indemnity shall exceed fifty percent (50%) of the reasonable valuation of such improved real estate, exclusive of all buildings, then such first mortgage shall be accepted to the extent of such fifty percent (50%) valuation.