Oklahoma § 12-1147.5 - Trust in proceeds of sale
Full text of Oklahoma Oklahoma Statutes § 12-1147.5 — Trust in proceeds of sale, with citation guidance and answers to common questions.
§ 12-1147.5. Trust in proceeds of sale
Upon confirming the sale of real estate under the provisions of
Section 1147.4 of this title, the court shall direct that the
proceeds of the sale, including any purchase money mortgage which
may be accepted as a part of the purchase price, less any costs
chargeable against the same, constitute a trust to be managed and
invested under the continuing jurisdiction of the court and, except
as may be otherwise directed by the court, in accordance with the
provisions of the Oklahoma Trust Act and the Oklahoma Uniform
Prudent Investor Act. The trustee appointed to make said sale may
be continued as trustee for the administration of the trust or the
court may appoint a different trustee for the purpose of
administering the trust. In the order of confirmation of sale and
the appointment of the trustee to administer the trust, the court
shall make appropriate provisions with respect to the term during
which the trust shall be administered and how the income and
principal thereof shall be distributed.
Added by Laws 1953, p. 59, § 5, emerg. eff. June 1, 1953. Amended
by Laws 1995, c. 351, § 17, eff. Nov. 1, 1995.
Oklahoma Statutes - Title 12. Civil Procedure
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 12-1147.5
What does Oklahoma Statutes § 12-1147.5 cover?
Section 12-1147.5 ("Trust in proceeds of sale") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 12-1147.5?
A common citation format is "Oklahoma Statutes § 12-1147.5" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 12-1147.5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.