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SOONER FED. S & L v. OKL. CENT. CR. UNION

No. 65823.

790 P.2d 526 (1989)

SOONER FEDERAL SAVINGS AND LOAN ASSOCIATION, a corporation, Plaintiff-Appellee, v. OKLAHOMA CENTRAL CREDIT UNION, a corporation, Defendant-Appellee, and Mickey Leslie, Defendant-Appellant, and Charles E. Bailey, Doris R. Bailey, Hoshall E. Thomas, Oleta I. Thomas, Board of County Commissioners of Tulsa County, Oklahoma, and John F. Cantrell, County Treasurer of Tulsa County, Oklahoma, Defendants.

Supreme Court of Oklahoma.

As Corrected November 13, 1989.

Rehearing Denied May 8, 1990.

Attorney(s) appearing for the Case

Thomas H. Trower, Houston and Klein, Inc., Tulsa, for plaintiff-appellee.

Thomas M. Bingham, Lang, James & Bingham, Inc., Tulsa, for defendant-appellee.

Ernest A. Bedford, John J. Kocher, Eric W. Spooner, Bedford & Associates, Inc., Tulsa, for defendant-appellant.

OPALA, Vice Chief Justice.

The dispositive issues are: [1] Can the right of redemption be effected after sheriff's sale but before judicial confirmation? [2] Did the record owner have the right to redeem? and if so, [3] Does the redemptive right's gratuitous transfer to the foreclosing mortgage lender give the lender an equity superior to that of the purchaser for value at a regular judicial sale? We answer the first...

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