Except as otherwise provided in this section, whenever a claim for lien has been filed with the county clerk, and an escrow account has been established either from the proceeds from the transaction or any other source of funds in an amount equal to one hundred twenty-five percent (125%) of the amount of the claim for lien, then the lien against the commercial real estate shall be extinguished and become a lien on the funds contained in the escrow account. The establishment of an escrow account, as provided for in this section, shall not be cause for any party to refuse to close the transaction.
Okla. Stat. tit. 42, § 209
Lien on escrow account
Added by Laws 2006, c. 166, § 9, eff
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.