Texas vs Oklahoma: how distressed property sales work
Texas forecloses most mortgages without going to court and sells on the first Tuesday of the month; Oklahoma usually forecloses through the courts and sells through the county sheriff after an appraisal. Tax sales differ too: Texas sells after a court judgment with a redemption period afterward, while Oklahoma holds an annual county treasurer resale in June.
| Texas | Oklahoma | |
|---|---|---|
| Usual mortgage foreclosure | Nonjudicial (power of sale in the deed of trust), Property Code 51.002 | Judicial (court case, then sheriff's sale); a power of sale exists but a homestead owner can elect judicial foreclosure, 46 O.S. 43 |
| When sales happen | First Tuesday of the month, 10 a.m. to 4 p.m. | Sheriff's sales are set after judgment; the tax resale is the second Monday of June |
| Foreclosure notice | At least 21 days before the sale, posted at the courthouse and filed with the county clerk | Published notice; sale at least 30 days after first publication, 12 O.S. 764 |
| Minimum bid at sheriff sale | No statewide appraisal minimum for mortgage foreclosures | Two-thirds of appraised value unless appraisal was waived |
| Tax sale type | Tax lien foreclosure by lawsuit, then sheriff or constable sale (Tax Code ch. 34) | County treasurer resale of land delinquent 3 or more years (68 O.S. 3105, 3125) |
| Redemption after a tax sale | 2 years for homesteads, ag land and mineral interests; 180 days for other property (Tax Code 34.21) | See the Oklahoma tax sale guide for the treasurer's process |
| Small estate shortcut | Small estate affidavit up to $75,000, homestead only for real property (Estates Code ch. 205) | Affidavit up to $50,000 (58 O.S. 393); summary administration up to $200,000 (58 O.S. 245) |
Each row is explained, with the statute links, in the state guides: Texas guides and Oklahoma guides.