2015 Oklahoma Statutes
Title 31. Homestead and Exemptions
§31-12. Corpus and income of preservation trust exempt from attachment, execution, forced sale, and liens - Exceptions - Transfer of assets.
Notwithstanding Section 3 of this title and Section 299.15 of Title 60 of the Oklahoma Statutes, the corpus and income of a preservation trust shall be exempt from attachment or execution and every other species of forced sale and no judgment, decree, or execution can be a lien on the trust for the payment of debts of a grantor, except a child support judgment. Any incremental growth derived from income or an increase in value of the corpus of a preservation trust shall also be considered protected by this section. Transfer of an asset to a preservation trust does not affect any mortgage, security interest or lien to which that asset is subject.
Added by Laws 2004, c. 509, § 3, emerg. eff. June 9, 2004. Amended by Laws 2005, c. 438, § 2, emerg. eff. June 8, 2005; Laws 2014, c. 102, § 2, eff. Nov. 1, 2014.
Disclaimer: These codes may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.