Tax Lien Certificates and Tax Deed Sales in Oklahoma OK

There are 77 Counties in Oklahoma. It became the 46th state on November 16, 1907. The state motto is "Labor conquers all things".

Currently, the maximum interest rate being offered on all Oklahoma tax lien certificates is 8% per annum with a two year right of redemption.

Summary: The county treasurer shall in all cases, except those provided for in subsection B of this section, where taxes are a lien upon real property and are unpaid on the first day of April of any year proceed, as hereinafter provided, to advertise and sell such real estate for such taxes, special assessments and costs, and shall not be bound before so doing to proceed to collect by sale all personal taxes on personal property which are by this Code made a lien on realty, but shall include such personal tax with that due on the realty, and shall sell the realty for all of said taxes and special assessments. (68-3105). On the first Monday in October in each year between the hours of 9:00 a.m. and 4:00 p.m., the treasurer shall offer at public sale at his office where by law the taxes are made payable, all lands, town lots or other real property which shall be liable for taxes of any description for the preceding year, or years, and which shall remain due and unpaid. (68-3107), the first person who offers to pay the full amount due on any parcel of land shall be considered to be the successful purchaser.

In the event a tax lien is not purchased at the tax lien certificate sale the (68-3108).Property for which a minimum bid is not made is sold to the county. (68-3125) If any real estate purchased by the county at delinquent tax sale shall remain unredeemed for a period of two (2) years from date of sale, the county treasurer shall proceed to sell such real estate at resale, which shall be held on the second Monday of June each year in each county.

In the event a property is not purchased (68-3135) under the provisions of the resale tax laws may be sold by the county treasurer, after notice by publication, at a price as may be approved by the board of county commissioners, the notice to be given after receipt of bid on the property. (68-3135 B) The auctions shall be held at a time, date and place as set by the county treasurer with the approval of the county commissioners. On the date of the auction, the property or properties shall be sold by the county treasurer to the highest competitive bidder, for cash in hand. Any bid which is less than all of the real estate ad valorem taxes owed at the time of the original resale shall be accepted only upon approval of the county commissioners and the county excise board.

Law: Oklahoma Statutes, Title 68, Article 31, "Delinquent Taxes and Collection."

Tax Sale List: Use Oklahoma Tax Sale Lists to search for Oklahoma tax lien certificates to buy or bid on. Generally most Oklahoma tax sale lists will identify the property owner, parcel number, legal description and the amount due. In some cases, the tax sale list may include the tax collectors assessed value of the property.

Contact: The County Treasurer

Interest Rate: 8% per annum. More specifically, if the tax sale certificate is held by an individual purchaser, the sum paid to the county for such certificate and all taxes paid and endorsed thereon, together with interest thereon at the rate of eight percent (8%) per annum from the date of sale or purchase thereof from the county (68-3113).

Auction Type: Tax Lien Certificate (68-3111) and Tax Deed (68-3135).

Bidding Procedure: The first person who offers to pay the full amount due on any parcel of land shall be considered to be the successful purchaser. In the event that more than one such person shall so appear at the same time the county treasurer shall decide the issue by fair and impartial drawing. Parcels of land shall be sold to prospective purchasers on a first-come, first-served basis (68-3108)

Costs: The county treasurer shall charge and collect, in addition to the taxes, interest and penalty, the publication fees as provided by the provisions of Section 121 of Title 28 of the Oklahoma Statutes, and Five Dollars ($5.00) plus postage for mailing the notice by certified mail, which shall be paid into the county treasury, and the county shall pay the cost of the publication of such notice and (68-3106), the county treasurer shall collect an additional Ten Dollars ($10.00) for the issuance and acknowledgment of the certificate (68-3111).

Redemption Period: 2 years. The owner of any real estate sold for taxes, or any person having a legal or equitable interest therein, may redeem the same from the lien resulting from tax sale at any time before the execution of a deed of conveyance therefore by the county treasurer, by paying to the county treasurer, if the tax sale certificate is held by an individual purchaser, the sum paid to the county for such certificate and all taxes paid and endorsed thereon, together with interest thereon at the rate of eight percent (8%) per annum from the date of sale or purchase thereof from the county (68-3113). If no person shall redeem any land on which the tax lien has been sold within two (2) years, at any time after the expiration, and on production of the certificate of purchase,the county treasurer of the county in which the sale of such land took place shall execute to the purchaser, or the heirs or assigns of the purchaser, a deed for land remaining unredeemed. A statute of limitation of seven (7) years is hereby fixed for tax sale certificates. No firm, association, corporation or individual holding a tax sale certificate shall be entitled to have a tax deed issued thereon after seven (7) years shall have elapsed from the date of the issuance of said tax sale certificate. (68-3117, 68-3118).

Deed assigned at Foreclosure to: Tax Lien Certificate holder. More specifically, The deed shall vest in the grantee an absolute estate in fee simple in the lands, subject however, to all claims which the state may have on the lands for taxes or other liens or encumbrances and shall extinguish the rights of any mortgagee of record of the lands to whom notice was sent as provided for by law (68-3118).

Notes: As far as Oklahoma is concerned, at 8% per annum it doesn't provide the biggest rate of return. However, it does have a short 2 year redemption period.

The Oklahoma tax sale process can be a bit confusing but I'll do my best to make sense of it. First you should know that Oklahoma has three tax sales;

1. Tax Sale
2. Resales and
3. County Commissioners Sales

The Tax Sale is held each year on the First Monday in October (68-3107). The winning bidder receives a tax lien certificate which draws interest at 8% per annum subject to a 2 year redemption period.

Any tax lien not sold at the Tax Sale is assigned to the county and can be purchased over the counter anytime prior to the expiration of the 2 year redemption period (68-3108).

The "Resale" or second buying opportunity includes properties which remain unredeemed for a period of two years from the date of the sale..." (68-3125) and occurs the second Monday of June each year. The winning bidder will receive a treasurers or tax deed. Any propery not sold at the "Resale" will be struck off to the county.

The "County Commissioners Sale" or third buying opportunity includes properties not sold at either the "tax sale" or the "resale". At the county commissioner sale "Properties are sold by the treasurer at a price approved by the county commissioners" (68-3135).

Counties:

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