Bill > HB1734

This bill modifies Oklahoma's law regarding sheriff sales, specifically addressing online auction procedures for property sales under execution. The bill prohibits charging a buyer's premium in online sheriff sales and limits the fees an online auction platform can charge to a maximum of $350. Under the new law, online auction platforms can collect and hold deposits and purchase money payments, settle the transaction, and then remit payment to the court clerk as directed by the sheriff or court. The bill clarifies that any fees charged by the online auction platform will be considered court costs. The legislation also makes a minor grammatical change by adding "or her" when referring to the sheriff. The bill is set to become effective on November 1, 2025, providing clarity and potential cost savings for buyers participating in sheriff sales conducted through online platforms.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1734&Session=2600