Oklahoma § 12-776 - Sheriff sale — Online auction

§ 12-776. Sheriff sale — Online auction

A. In accordance with the provisions of Section 751 et seq. of

Title 12 of the Oklahoma Statutes, sheriffs may conduct the sale of

goods, chattels, or lands and tenements utilizing an online auction

marketplace.

Oklahoma Statutes - Title 12. Civil Procedure

B. No sheriff or other officer conducting the sale of property

or any appraiser or online auction marketplace, including any

affiliation with a corporation, limited liability company, limited

liability partnership, partnership, or other business entity, shall

either directly or indirectly purchase the property; any such

purchase shall be considered fraudulent and void. The prohibition

of this subsection shall also apply to those related by affinity or

consanguinity within the third degree. If the appraiser or online

auction marketplace is a corporation, limited liability company,

limited liability partnership, partnership, or other business

entity, such prohibition shall apply to any director, officer,

employee, managing member, or partner of such appraiser or online

auction marketplace.

C. If an online auction marketplace is used pursuant to this

section, the online auction marketplace shall provide a

nonelectronic option for bidders.

D. The online auction marketplace may require bidders to agree

to reasonable terms of service or use. Any such terms of service or

use shall provide that the terms of service or use are subject to

the laws and jurisdiction of this state.

E. The online auction marketplace may collect deposits and

payments by wire transfer, electronic funds transfer, or cashier’s

check from a registered bidder; and remit payment of the purchase

price to the court clerk as directed by the sheriff but in no case

more than five (5) business days following the completion of the

sale.

F. In accordance with the provisions of Section 765 of Title 12

of the Oklahoma Statutes, no buyer’s premium shall be charged to a

buyer on any sale conducted by a sheriff, or other officer,

utilizing an online auction marketplace. The fee charged and all

costs incurred by the online auction marketplace shall be assessed

as costs not to exceed Four Hundred Twenty-five Dollars ($425.00)

per confirmed sale.

Added by Laws 2025, c. 413, § 4, emerg. eff. May 28, 2025.