What is the statutory redemption period for a judicial mortgage foreclosure in Oklahoma?
Correct Answer
B) Up to 6 months, which may be reduced or eliminated if the property is abandoned or the borrower waives the right
Under 12 O.S. § 686, Oklahoma provides a statutory redemption period of up to 6 months following a judicial mortgage foreclosure sale. This period may be shortened or eliminated if the mortgaged property is determined to be abandoned or if the borrower contractually waives the redemption right. Oklahoma does not use a blanket 1-year or 3-month period, and redemption rights do exist by statute unless waived or forfeited due to abandonment.
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