§ 39-112. Assessments--Rate--Interest--Delinquent payments--Liens
Oklahoma Statutes AnnotatedTitle 11. Cities and Towns
11 Okl.St.Ann. § 39-112
§ 39-112. Assessments--Rate--Interest--Delinquent payments--Liens
B. After the publication of the ordinance ratifying an assessment levied as provided in Section 39-111 of this title, the assessment with any interest or penalty accruing on such assessment shall constitute a lien upon the tract or parcel of land so assessed. Such lien shall be coequal with the lien for ad valorem taxes and the lien of other improvement districts, and be superior to all other liens, claims and titles. Unmatured installments are not deemed to be within the terms of any general covenant or warranty. All purchasers, mortgagees or encumbrancers of a tract or parcel of land so assessed shall acquire the tract or parcel of land subject to the lien so created.
D. Any tract or parcel so assessed shall not be relieved from the assessment or lien by the sale of the tract or parcel of land for taxes or any other assessment, subject to the provisions of Section 39-119 of this title. The statute of limitations shall not begin to run against an assessment until after the last installment of the assessment becomes due.
F. A delinquent installment of an assessment shall be foreclosed and the tract or parcel of land concerned be sold in the manner provided by law for foreclosure of mortgages on land. If, at the sale, there is no better bidder for the tract or parcel of land the municipality shall bid in the tract or parcel of land for the amount due on the assessment plus any interest, penalties or costs which have accrued against the assessment. Any real estate sold under any order, judgment or decree of court to satisfy the lien may be redeemed by the owner or his assignee at any time within one (1) year of the date of sale by paying to the purchaser thereof or assignee the amount paid with interest from the date of purchase at the rate of twelve percent (12%) per annum.
Credits
Laws 1978, c. 233, § 12, emerg. eff. April 25, 1978; Laws 2007, c. 362, § 9, eff. Nov. 1, 2007.
11 Okl. St. Ann. § 39-112, OK ST T. 11 § 39-112
Current with emergency effective legislation through Chapter 3 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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