Upon confirming the sale of real estate under the provisions of Section 1147.4 of this title, the court shall direct that the proceeds of the sale, including any purchase money mortgage which may be accepted as a part of the purchase price, less any costs chargeable against the same, constitute a trust to be managed and invested under the continuing jurisdiction of the court and, except as may be otherwise directed by the court, in accordance with the provisions of the Oklahoma Trust Act and the Oklahoma Uniform Prudent Investor Act. The trustee appointed to make said sale may be continued as trustee for the administration of the trust or the court may appoint a different trustee for the purpose of administering the trust. In the order of confirmation of sale and the appointment of the trustee to administer the trust, the court shall make appropriate provisions with respect to the term during which the trust shall be administered and how the income and principal thereof shall be distributed.
§ 1147.5.Trust In Proceeds of Sale
Chapter 20: Actions Regarding Real Property · Last amended November 1, 1995 · Last verified August 3, 2026
In one sentenceSection 1147.5 directs that the net proceeds of a confirmed sale become a trust, managed under the court's continuing jurisdiction and the Oklahoma Trust Act and Oklahoma Uniform Prudent Investor Act, with the court setting the trust's term and how it distributes income and principal.
Full Text of § 1147.5
Amendment History
Added by Laws 1953, SB 59, p. 59, § 5, emerg. eff. 6/1/1953; Amended by Laws 1995, HB 1946, c. 351, § 17, eff. 11/1/1995.
Plain-English Summary
Once the court confirms a sale under Section 1147.4, the proceeds -- including any purchase-money mortgage taken as part of the price, minus chargeable costs -- become a trust. The court keeps continuing jurisdiction over that trust, and unless it directs otherwise, the trustee manages and invests the funds under the Oklahoma Trust Act and the Oklahoma Uniform Prudent Investor Act.
The trustee who handled the sale can keep serving as trustee of the resulting trust, or the court can name someone else. Either way, the confirmation order has to spell out how long the trust runs and how its income and principal get distributed.
Frequently Asked Questions
What happens to the money from a sale confirmed under this act?
It becomes a trust, managed and invested under the court's continuing jurisdiction in place of the real estate that was sold.
What standards govern how the trust funds are invested?
The Oklahoma Trust Act and the Oklahoma Uniform Prudent Investor Act, unless the court directs otherwise.
Does the same trustee who sold the property have to manage the trust afterward?
Not necessarily. The court may continue that trustee in the role or appoint a different one to administer the trust.
Who decides how long the trust lasts and how it pays out?
The court, in the order confirming the sale and appointing the trustee.
Source & verification. Section text is reproduced verbatim from
Title 12 of the Oklahoma Statutes, enacted by the Oklahoma Legislature.
Last verified August 3, 2026.
· Official source
Also known as: trust proceeds real estate sale oklahomaoklahoma trust act prudent investor act real estate12 O.S. § 1147.5court managed trust future interest sale