OCTOBER 2025 | 37 THE OKLAHOMA BAR JOURNAL 16 O.S. §11A, has two natures: part immediate conveyance of “equitable” title to the buyer and part immediate granting of a mortgage lien to the seller, “guaranteeing payment under the contract” (as between the parties and third parties with notice).8 The operative statute, 16 O.S. §11A, provides: All contracts for deed for purchase and sale of real property made for the purpose or with the intention of receiving the payment of money and made for the purpose of establishing an immediate and continuing right of possession of the described real property, whether such instruments be from the debtor to the creditor or from the debtor to some third person in trust for the creditor, shall to that extent be deemed and held mortgages, and shall be subject to the same rules of foreclosure and to the same regulations, restraints and forms as are prescribed in relation to mortgages. No foreclosure shall be initiated, nor shall the court allow such proceedings, unless the documents have been filed of record in the county clerk’s office, and mortgage tax paid thereon, in the amount required for regular mortgage transactions. Provided, however, mutual help and occupancy agreements executed by an Indian housing authority created pursuant to Section 1057 of Title 63 of the Oklahoma Statutes shall not be considered to be mortgages or contracts for deed under the provisions of this section. When interpreting this statute, the Oklahoma Supreme Court in McGinnity (2015) made it clear that such a contract for deed immediately conveys equitable title: The Kirks appealed a judgment foreclosing a mortgage. By 16 O.S.2011 § 11A, contracts for deed “made for the purpose of establishing an immediate and continuing right of possession ... shall to that extent be deemed and held mortgages ... and shall be subject to the same rules of foreclosure and to the same regulations, restraints and forms as are prescribed in relation to mortgages.” When the contract for deed was properly executed, equitable title to the real property passed to the Kirks as buyers, the Neeces as sellers retained only the bare legal title, and the interest retained Statements or opinions expressed in the Oklahoma Bar Journal are those of the authors and do not necessarily reflect those of the Oklahoma Bar Association, its officers, Board of Governors, Board of Editors or staff.
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