Oklahoma § 42-207 - Release or satisfaction of lien - Demand for suit to

§ 42-207. Release or satisfaction of lien - Demand for suit to

enforce lien - Alternate dispute resolution - Attorneys' fees, costs

and interest.

A. Whenever a notice of lien has been filed with the county

clerk and a condition occurs that would preclude the broker from

receiving compensation under the terms of the written agreement on

which the lien is based, the broker shall provide to the owner of

record a written release or satisfaction of the lien.

Oklahoma Statutes - Title 42. Liens

B. An owner, lienee, or other authorized agent may serve

written demand on the broker claiming the lien requiring the broker

to file suit to enforce the lien. Upon receipt of the written

demand, the broker shall file suit within thirty (30) days, or the

lien shall be extinguished. Service of such written demand may be

made by registered or certified mail, return receipt requested, or

by personal service.

C. Whenever a notice of lien has been filed with the county

clerk and such claimed commission has been paid to the broker

claiming the lien, or where there is failure to institute a suit to

enforce the lien within the time provided by this act, the broker

shall acknowledge satisfaction or release of the notice of lien in

writing, on written demand of the owner within five (5) days after

payment or within five (5) days of expiration of the time in which

the notice of lien was to be filed.

D. If the broker and the party or parties from whom the

commission is claimed agree to alternative dispute resolution, the

claim shall be heard and resolved in the forum on which these

parties have agreed. The court before which the lien foreclosure

proceeding is brought shall retain jurisdiction to enter judgment on

the award or other result made or reached on alternative dispute

resolution on all parties to the foreclosure. The broker’s notice

of lien shall remain of record and the foreclosure proceeding shall

be stayed during the pendency of the resolution process.

E. The cost of proceedings brought under this act, including

reasonable attorney fees, costs, and prejudgment interest due to the

prevailing party, shall be borne by the nonprevailing party or

parties. When more than one party is responsible for costs, fees,

and prejudgment interest, the costs, fees, and prejudgment interest

shall be equitably appointed by the court or tribunal among those

responsible parties.

Added by Laws 2006, c. 166, § 7, eff. Nov. 1, 2006.