Oklahoma § 59-1324 - Property bond

§ 59-1324. Property bond

Where the undertaking is a property bond, whether posted by a

bail bondsman, the defendant personally, or by any other person,

said bond shall give the legal description of the property, the

assessed valuation, the amount of encumbrances, if any, and the

status of the legal title, all by affidavit. Any property located

within the state wherein the bail is allowed, that is subject to

execution shall be accepted for security on a property bond for the

market value of the property. Market value is defined to be four

times the assessed valuation of the property as recorded on the tax

rolls, less any encumbrances thereon; provided, that homesteads may

be accepted as security for appearance if the homestead exemption is

waived in writing. Such waiver shall be verified and executed by

the spouse, if any. The property listed upon any property bond or

bonds will be security on said bonds up to the aggregate amounts as

follows:

(A) In the event of bonds written by a licensed property

bondsman; four times the market value of said property.

(B) All other property bonds; in the face amount of the market

value of said property.

The court clerk, upon the approval of a property bond, shall

forthwith file a certified copy of said bond in the office of the

county clerk in which the property is located, transmitting to the

county clerk the filing fee which will be paid by the person

executing said bond. The county clerk shall index said bond upon

his tract index as a lien against said described property, and such

bond shall be a lien upon the real estate described therein until a

certificate discharging said bond shall be filed in the office of

the county clerk. Said lien shall be superior to any conveyance,

encumbrance or lien thereafter pertaining to said property. When

said bond shall have been discharged, the clerk of said court shall

issue to the surety a certificate of discharge describing the bond

and the real property, which shall, upon filing with the county

clerk and the payment of the filing fee, be recorded in the tract

index. An abstract company preparing an abstract upon such real

estate, shall be required to list in said abstract only the

undischarged liens and shall not list any discharge liens.

Laws 1965, c. 184, § 24; Laws 1970, c. 191, § 1, emerg. eff. April

13, 1970.