Oklahoma § 58-385.1 - Verified petition by guardian - Contents - Limitations

§ 58-385.1. Verified petition by guardian - Contents - Limitations

To obtain an order for mortgaging such real estate for the

purpose and under the provisions hereof, the guardian must present a

verified petition to the district court or to the judge thereof,

setting forth a description of the property, real and personal, on

hand and undisposed of, the legally established lien or the

obligation which may by operation of law become a lien; the amount

of the lien or the amount of the obligation which may by operation

of law become a lien, the names and addresses of all parties

interested in the estate of the minor, incompetent or mentally ill

person, and the specific reasons why it will be to the best interest

of the said estate to mortgage, rather than sell such real estate,

or a part thereof.

Such authority shall not be given or order made therefor, and no

mortgage on any real estate shall be made, given, executed or

delivered under the provisions hereof, for an amount in excess of

two-thirds (2/3) of the appraised value thereof, as established by

an appraisal made by three disinterested citizens of the county

within one (1) year of the time of making such order to mortgage.

Laws 1968, c. 154, § 2, operative Jan. 13, 1969.