Oklahoma § 31-12 Corpus and income of preservation trust exempt from

Oklahoma Statutes

§ 31-12 — Corpus and income of preservation trust exempt from

Oklahoma·Title 31 Homestead And Exemptions

attachment, execution, forced sale, and liens - Exceptions - Transfer of assets. Notwithstanding Section 3 of this title and Section 299.15 of Title 60 of the Oklahoma Statutes, the corpus and income of a preservation trust shall be exempt from attachment or execution and every other species of forced sale and no judgment, decree, or execution can be a lien on the trust for the payment of debts of a grantor, except a child support judgment. Any incremental growth derived from income or an increase in value of the corpus of a preservation trust shall also be considered protected by this section. Transfer of an asset to a preservation trust does not affect any mortgage, security interest or lien to which that asset is subject.

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attachment, execution, forced sale, and liens - Exceptions - Transfer of assets. Notwithstanding Section 3 of this title and Section 299.15 of Title 60 of the Oklahoma Statutes, the corpus and income of a preservation trust shall be exempt from attachment or execution and every other species of forced sale and no judgment, decree, or execution can be a lien on the trust for the payment of debts of a grantor, except a child support judgment. Any incremental growth derived from income or an increase in value of the corpus of a preservation trust shall also be considered protected by this section. Transfer of an asset to a preservation trust does not affect any mortgage, security interest or lien to which that asset is subject.

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Legislative History

Added by Laws 2004, c. 509, § 3, emerg. eff. June 9, 2004. Amended by Laws 2005, c. 438, § 2, emerg. eff. June 8, 2005; Laws 2014, c. 102, § 2, eff. Nov. 1, 2014.