Absentee-Shawnee Tribe of Indians of Oklahoma
Absentee Shawnee Tribe of Indians of Oklahoma Tribal Code
Chapter Eighteen. Mortgages
Section 1801. Form of Mortgage
A mortgage upon lease of real estate may be substantially in the following form, to-wit:
Know all these men by these Presents: That, .... and .... of .... County, in the jurisdiction of the Absentee Shawnee Tribe of Oklahoma, party of the first part, have mortgaged and hereby mortgage to .... of .... County .... of .... party .... the second part, the following described real estate and premises, situated in .... County, State of Oklahoma, to-wit ...., with all the improvements thereon and appurtenances thereunto belonging, and warrant the title to the same; .... This mortgage is given to secure the principal sum of .... dollars, with interest thereon at the rate of .... per centrum per annum, payable .... annually from .... according to the terms of certain promissory note .... described as follows, to-wit: ....
Dated this .... day of ...., 19....
Absentee Shawnee Civil Procedure Section 1801, AST CIV PRO Code Section 1801
Section 1802. Formalities Similar to Deeds
Mortgages of real property may be acknowledged or proved, certified, and recorded in like manner and with like effect as grants thereof.
Absentee Shawnee Civil Procedure Section 1802, AST CIV PRO Code Section 1802
Section 1803. Record is Notice
The record of a mortgage duly made, operates as notice to all subsequent purchasers and incumbrancers.
Absentee Shawnee Civil Procedure Section 1803, AST CIV PRO Code Section 1803
Section 1804. Grant Intended as Mortgage Recorded as Mortgage
Every grant of real property, or of any estate therein, which appears by any other writing to be intended as a mortgage will be a mortgage within the meaning of this chapter.
Absentee Shawnee Civil Procedure Section 1804, AST CIV PRO Code Section 1804
Section 1805. Separate Instrument Recorded
Every instrument explanatory of any deed or other writing purporting to be a conveyance but intended to be defeasible or as security for payment of money, shall be deemed a part thereof, and must be filed and recorded therewith; and unless such instruments are so filed and recorded together, they and each of them shall have no other effect than an unrecorded mortgage, and the recording of the principal instrument shall secure no rights to the holder thereof.
Absentee Shawnee Civil Procedure Section 1805, AST CIV PRO Code Section 1805
Section 1806. Assignment--Unrecorded--Payment
In cases where assignments of real estate are made after the passage of this chapter, 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 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 paid to the last assignee whose assignment is recorded in accordance with the provisions of this section and 1731 of this Code of Civil Procedure, 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 the jurisdiction of the Absentee Shawnee Tribe of Oklahoma, 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 chapter: 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 chapter applies only to mortgages which have been on record six months or more.
Absentee Shawnee Civil Procedure Section 1806, AST CIV PRO Code Section 1806
Section 1807. Release by Attorney
Any agent or attorney duly authorized to collect the debt secured thereby shall have power and authority to release a mortgage.
Absentee Shawnee Civil Procedure Section 1807, AST CIV PRO Code Section 1807
Section 1808. Assignments of Existing Mortgages--Recording Within Four Months--Mortgages on Record for Six Months
All assignments of mortgages at present existing, bearing date prior to taking effect of this Act, shall within four (4) months next succeeding the taking effect of this chapter be recorded in the proper Real Estate Office, in accordance with the provisions of Section 1731 of this Code of Civil Procedure, whether such assignments be acknowledged or not, and in case such assignments are not recorded within the time herein provided, the payment of any interest or principal on the debts secured by such mortgages to the mortgagees or the assignees whose assignments appear last of record after the expiration of the time herein provided, and before the recording of such assignments, shall be and constitute a complete defense to any action on such mortgage or note or other evidence of indebtedness secured thereby as against the mortgagor, his heirs, personal representatives, or assigns: Provided, however, the last assignee of an unrecorded assignment shall have a right of action against the assignor to whom such interest or principal is paid; and provided further, that where the mortgagor, his heirs, personal representatives, or assigns have actual notice or knowledge of such assignment or transfer, then in such case such payment shall constitute no defense, and none of the provisions of this Act shall apply. Provided, this section applies only to mortgages which have been on record six (6) months or more.
Absentee Shawnee Civil Procedure Section 1808, AST CIV PRO Code Section 1808
Section 1809. Holder Must Release--Penalty
Any mortgage on real estate shall be released by the holder of any such mortgage within fifty (50) days of the payment of the debt secured by the mortgage and the holder of the mortgage shall file the release of the mortgage with the Real Estate Office where the mortgage is recorded. If, at the end of the fifty (50) day period, the holder has failed to release the mortgage, the mortgagee may at any time request in writing the holder of the mortgage to release the mortgage and the holder of the mortgagee shall have ten (10) days from the date of the request to release such mortgage. If the holder of the mortgage fails to release the mortgage by the end of such ten (10) day period, he shall then forfeit and pay to the mortgagor a penalty of one percent (1%) of the principal debt not to exceed one hundred dollars ($100.00) per day each day the release is not recorded after the ten (10) day period has expired and the penalty shall be recovered in a civil action in any court having jurisdiction thereof, but the request for the release shall be in writing and describe the mortgage and premises with reasonable certainty. Provided that, the total penalty shall not exceed one hundred percent (100%) of the total principal debt.
Absentee Shawnee Civil Procedure Section 1809, AST CIV PRO Code Section 1809
Section 1810. How Released
A mortgage on real property may be released by written instrument, duly signed and acknowledged and recorded in the Real Estate Office.
Absentee Shawnee Civil Procedure Section 1810, AST CIV PRO Code Section 1810