Where one has a lien upon several things, and other persons have subordinate liens upon or interests in, some but not all of the same things, the person having the prior lien, if he can do so without the risk of loss to himself, or injustice to other persons, must resort to the property in the following order, on the demand of any party interested: 1. To the things upon which he has an exclusive lien. 2. To the things which are subject to the fewest subordinate liens. 3. In like manner inversely to the number of subordinate liens upon the same thing; and, 4. When several things are within one of the foregoing classes, and subject to the same number of liens, resort must be had,- (a) To the things which have not been transferred since the prior lien was created. (b) To the things which have been so transferred without a valuable consideration; and, (c) To the things which have been so transferred for a valuable consideration. R.L. 1910, § 3838.
Notes of Decisions
Cited in
8
cases (
1 in the last 5 years), 1972–2021 · leading case:
In re Martin, 875 P.2d 417 (Okla. 1994).
In re Martin, 875 P.2d 417 (Okla. 1994).
· cites it 4× “In would hold that the Oklahoma Constitution and the Oklahoma Statutes do not create or authorize an exception to the marshaling of assets when the debtor has voluntarily mortgaged the homestead property to secure payment of a debt and the Oklahoma marshaling statutes, Okla.…”
Bank of the Wichitas v. Ledford, 2006 OK 73, 151 P.3d 103.
· cites it 2× “2001 § 4 33 and 42 O.S.2001 § 17. 34 In order for marshaling to apply, three conditions must be met: there must be (a) two or more secured creditors of a common debtor, (b) two or more funds belonging to the common debtor, and (c) a senior creditor who has the right to resort to…”
Vandever Invest. Co. v. HE Leonhardt Lumber Co., 503 P.2d 185 (Okla. 1972).
· cites it 2× “42 O.S.1971, § 17, provides: “Where one has a lien upon several things, and other persons have subordinate liens upon or interests in, some but not all of the same things, the person having the prior lien, if he can do so without the risk of loss to himself, or injustice to…”
RCB Bank v. Stitt, 2022 OK CIV APP 3, 517 P.3d 986.
· cites it 2× “Title 42 O.S.2011 § 17 Where one has a lien upon several things, and other persons have subordinate liens upon or interests in, some but not all of the same things, the person having the prior lien, if he can do so without the risk of loss to himself, or injustice to other…”
Fleet Nat'l Bank v. Fourth Street Assocs., 1998 OK CIV APP 88, 960 P.2d 370.
· cites it 2× “Byrd bases her claim upon the following statutes: 42 O.S.1991 § 17 Where one has a lien upon several things’ and other persons have subordinate liens upon or interests in, some but not all of the same things, the person having the prior lien, if he can do so without the risk of…”
Hill v. Lane, 848 P.2d 43 (Okla. Civ. App. 1992).
“42 O.S.1991 § 17 provides for marshaling: Where one has a lien upon several things, and other persons have subordinate liens upon or interests in, some but not all of the same things, the person having the prior lien, if he can do so without the risk of loss to himself, or…”
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