In every instance in this state where bond, indemnity or guaranty is required, a first mortgage upon improved real estate within this state shall be accepted: Provided, that the amount of such bond, guaranty or indemnity shall not exceed fifty percent (50%) of the reasonable valuation of such improved real estate, exclusive of all buildings thereon; Provided, further, that where the amount of such bond, guaranty or indemnity shall exceed fifty percent (50%) of the reasonable valuation of such improved real estate, exclusive of all buildings, then such first mortgage shall be accepted to the extent of such fifty percent (50%) valuation.
§ 63.Real Estate Mortgage As Bond
Chapter 2: General Provisions · Not amended since adoption on record · Last verified August 3, 2026
In one sentenceSection 63 requires courts and officers to accept a first mortgage on improved Oklahoma real estate in place of a required bond, guaranty, or indemnity, up to fifty percent of the land's value excluding buildings.
Full Text of § 63
Amendment History
R.L. 1910, § 5344.
Plain-English Summary
Section 63 gives a property owner an alternative to a traditional bond. Wherever Oklahoma law requires a bond, indemnity, or guaranty, a first mortgage on improved real estate in the state must be accepted instead.
The mortgage only counts up to half the property's value, and that valuation excludes any buildings on the land — it's based on the land alone. If the bond amount would exceed fifty percent of that land value, the mortgage is accepted only up to the fifty percent mark, and the person still has to come up with additional security for the rest.
Frequently Asked Questions
Can someone use a mortgage instead of posting a cash or surety bond in Oklahoma?
Yes. Section 63 requires acceptance of a first mortgage on improved real estate in the state wherever a bond, indemnity, or guaranty is required.
How much of the property's value counts toward the bond?
Up to fifty percent of the land's reasonable valuation, not counting any buildings on it.
What if the required bond is worth more than half the land's value?
The mortgage is accepted only up to that fifty percent valuation, so the remaining amount needs separate security.
How is the land's value determined for this purpose?
Section 64 requires affidavits from two freeholders familiar with local land values, taken by the officer accepting the bond.
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: real estate mortgage in lieu of bondfirst mortgage as court bond Oklahoma50 percent land value bond substituteimproved real estate security instead of surety