Title 9, Mortgages and Liens

(1)(a) Except as provided in paragraph (b) of this subsection, a beneficiary that must request a resolution conference with a grantor under ORS 86.726 shall attend and participate in the resolution conference in person or by remote audio or video communication. (b)(A) A beneficia…

(1)(a) The service provider shall issue, within five days after receiving a report from a facilitator under ORS 86.732 (4), a certificate of compliance to a beneficiary that: (A) Complied with ORS 86.726, 86.729 and 86.732; (B) Submitted the materials required under ORS 86.729 (4…

(1) The Attorney General shall: (a) Appoint and enter into an agreement with a service provider to coordinate and manage a program to implement the provisions of ORS 86.726, 86.729, 86.732 and 86.736. (b) Enter into an agreement for information technology goods or services. (c) R…

(1) The Foreclosure Avoidance Fund is established in the State Treasury, separate and distinct from the General Fund. The Foreclosure Avoidance Fund consists of moneys the Attorney General collects or receives for the purpose of paying the expenses of coordinating a program to im…

(1)(a) Whether or not a beneficiary participates in a resolution conference under ORS 86.726, if the beneficiary determines that a grantor of a residential trust deed is not eligible for a foreclosure avoidance measure or that the grantor has not complied with the terms of a fore…

A trustee may not foreclose a trust deed by advertisement and sale in the manner provided in ORS 86.764 to 86.782 unless: (1) The trust deed, any assignments of the trust deed by the trustee or the beneficiary and any appointment of a successor trustee are recorded in the mortgag…

(1) If a notice of default is recorded for property that is subject to a residential trust deed, the sender of a notice of sale under ORS 86.764 shall, on or before the date the notice of sale is served or mailed, give notice under this section to the grantor by both first class …

(1) A grantor shall have the same rights possessed by the holder of a junior lien or interest who was omitted as a party defendant in a judicial foreclosure proceeding if: (a) The notice required by ORS 86.756 is not sent to the grantor; (b) The grantor does not actually receive …

(1) After recording a notice of default as provided in ORS 86.752 and at least 120 days before the day the trustee conducts the sale, notice of the sale with the contents described in ORS 86.771 must be served pursuant to ORCP 7 D(2) and 7 D(3) or mailed by both first class and c…

(1) If the trustee fails to give notice of the sale to a person entitled to notice under ORS 86.764 (2)(c), and the person did not have actual notice of the sale at least 25 days before the date on which the trustee conducted the sale, the omitted person has the same rights that …

The notice of sale must: (1) List the names of the grantor, trustee and beneficiary in the trust deed, and the mailing address of the trustee. (2) Describe the property the trust deed covers. (3) Identify the book and page of the mortgage records that record the trust deed. (4) S…

(1)(a) Except as provided in paragraph (b) of this subsection, the notice prescribed in ORS 86.771 must be served upon an occupant of the property described in the trust deed in the manner in which a summons is served pursuant to ORCP 7 D(2) and 7 D(3) at least 120 days before th…

(1) Where a trustee has commenced foreclosure of a trust deed by advertisement and sale, the grantor, the grantor’s successor in interest to all or any part of the trust property, any beneficiary under a subordinate trust deed, or any person having a subordinate lien or encumbran…

(1)(a) A trustee shall hold a trustee’s sale on the date and at the time and place designated in the notice of sale given under ORS 86.764. The designated time of the trustee’s sale must be after 9 a.m. and before 4 p.m., based on the standard of time set forth in ORS 187.110, an…

(1) Not later than 15 days before the date of a sale of property set forth in the notice of sale under ORS 86.771, the grantor, an occupant, a holder of a junior lien or any other person interested in bidding at the sale may send a written request to the trustee requesting that t…

(1) The written statement of information provided by a trustee under ORS 86.786 shall include: (a) A statement of the exact amount required, as of a specified date, to cure the default or satisfy the obligation, including the costs of foreclosure, trustee fees, attorney fees and …

The trustee shall apply the proceeds of the trustee’s sale as follows: (1) To the expenses of the sale, including the compensation of the trustee, and a reasonable charge by the attorney. (2) To the obligation secured by the trust deed. (3) To all persons having recorded liens su…

(1) If, under ORS 86.705 to 86.815, a trustee sells property covered by a trust deed, the trustee’s sale forecloses and terminates the interest in the property that belongs to a person to which notice of the sale was given under ORS 86.764 and 86.774 or to a person that claims an…

The trustee’s deed to the purchaser at the trustee’s sale shall contain, in addition to a description of the property conveyed, a recital of the facts concerning the default, the notice given, the conduct of the sale and the receipt of the purchase money from the purchaser. [Form…

When the trustee’s deed is recorded in the deed records of the county or counties where the property described in the deed is situated, the recitals contained in the deed and in the affidavits required under ORS 86.774 (3) and (4) shall be prima facie evidence in any court of the…

At any time subsequent to the recordation of a trust deed and prior to a recording of notice of default under the deed, any person desiring a copy of any notice of default or any notice of sale under a trust deed as provided in ORS 86.764 (1) may cause to be filed for record in t…

The charge of a trustee for the performance of powers and duties of foreclosure by advertisement and sale imposed under ORS 86.705 to 86.815 shall not exceed 50 percent of the compensation allowable to a personal representative under ORS 116.173 (3) or a minimum charge of $100. S…

(1) As used in this section, “nonprofit entity” means a nonprofit corporation that is organized in this state and that is exempt from taxation under section 501(c)(3) of the Internal Revenue Code, or a subsidiary or agent of the nonprofit corporation. (2) Except as provided in su…

The foreclosure of a trust deed by advertisement and sale or the foreclosure of a trust deed by judicial procedure shall be commenced within the time, including extensions, provided by ORS 88.110 and 88.120 for the foreclosure of a mortgage on real property. [Formerly 86.725] PEN…

Violation of ORS 86.040 is a Class B misdemeanor. [Amended by 1961 c.726 §410; 2011 c.597 §154] _______________