Oklahoma § 58-486 Holder of mortgage may purchase land.

Oklahoma Statutes

§ 58-486 — Holder of mortgage may purchase land.

Oklahoma § 58-486

Title 58Probate Procedure

This text of Oklahoma § 58-486 (Holder of mortgage may purchase land.) 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. 58, § 58-486 (2026).

Text

At any sale under order of the district court, of lands upon which there is a mortgage or lien, the holder thereof may become the purchaser, and his receipt for the amount due him from the proceeds of the sale is a payment pro tanto. If the amount for which he purchased the property is insufficient to defray the expenses and discharge his mortgage or lien, he must pay to the judge an amount sufficient to pay such expenses.

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At any sale under order of the district court, of lands upon which there is a mortgage or lien, the holder thereof may become the purchaser, and his receipt for the amount due him from the proceeds of the sale is a payment pro tanto. If the amount for which he purchased the property is insufficient to defray the expenses and discharge his mortgage or lien, he must pay to the judge an amount sufficient to pay such expenses.