Oklahoma § 46-12 - Assignment - Unrecorded - Payment
Full text of Oklahoma Oklahoma Statutes § 46-12 — Assignment - Unrecorded - Payment, with citation guidance and answers to common questions.
§ 46-12. Assignment - Unrecorded - Payment
In cases where assignments of real estate mortgages are made
after the passage of this act, if such assignments are not recorded,
the mortgagor, his heirs, personal representatives, or assigns, may
pay all matured interest or the principal debt secured thereby,
prior to the recording of such assignment to the mortgagee, or if
any assignment of such mortgage has been made that duly appears of
record, then such payment may be made to the last assignee whose
assignment is recorded in accordance with the provisions of this
act, and such payment shall be effectual to extinguish the debt
secured by such mortgage and all claims against such mortgagor, his
heirs, personal representatives, and assigns, for or on account of
such interest or such principal indebtedness; and no transfer of any
note, bond or other evidence of indebtedness, by endorsement or
otherwise, where such indebtedness is secured by mortgage on real
estate within this state, shall prevent or operate to defeat the
defense of payment of such interest or principal by the mortgagor,
his heirs, personal representatives, or assigns, where such payment
has been made to the mortgagee or to the assignee whose assignment
appears last of record under the provisions of this act: Provided,
however, that in all such cases the assignee who may hold such
unrecorded assignment shall have a right of action against his
assignor to recover the amount of any such payment of interest or
principal made to such assignor as upon an account for money had and
received for the use of such assignee: Provided, this section
applies only to mortgages which have been on record six (6) months
or more.
Laws 1931, p. 207, § 1.
Frequently Asked Questions About Oklahoma § 46-12
What does Oklahoma Statutes § 46-12 cover?
Section 46-12 ("Assignment - Unrecorded - Payment") 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 § 46-12?
A common citation format is "Oklahoma Statutes § 46-12" (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 § 46-12 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.