State Life Ins. v. State Ex Rel. Kehn

This action was instituted by the state pursuant to 18 O. S. 1941 §§ 86-861 against a corporation to collect the so-called statutory penalty for over-holding title to real estate. The individuals Lacey and Steele were joined as defendants by reason of their interest and claims under a sale contract entered into between them and the corporation. Judgment was for plaintiff, and defendants appeal.

The defendant corporation acquired title to the lands through the process of debt collections in the year 1927. On January 30, 1937, it entered into the aforesaid sale contract with Lacey and Steele as…