Oregon Statutes 86.764 – Notice of sale for certain persons
(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 certified mail with return receipt requested.
Terms Used In Oregon Statutes 86.764
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Grantor: The person who establishes a trust and places property into it.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Trustee: A person or institution holding and administering property in trust.
(2) The notice described in subsection (1) of this section must be served or mailed to all addresses on file with the trustee for the following persons or the legal representatives of the persons, including post office boxes:
(a) The grantor in the trust deed.
(b) Any successor in interest to the grantor whose interest appears of record, or of whose interest the trustee or the beneficiary has actual notice.
(c) Any person, including the Department of Revenue or another state agency, that has a lien or interest subsequent to the trust deed if the lien or interest appears of record or the beneficiary has actual notice of the lien or interest.
(d) A person that requests notice as provided in ORS § 86.806.
(3) A notice served by mail under subsection (1) of this section is effective when the notice is mailed.
(4)(a) The disability, insanity or death of a person to whom the notice required under this section must be given does not delay or impair in any way the trustee’s right under a trust deed to foreclose under the deed. If the disability, insanity or death occurs before the notice of default is recorded, the notice required under this section must be given instead to the guardian, the conservator of the estate of the person or the administrator or personal representative of the person in the manner and by the time set forth in this section.
(b) If the disability, insanity or death of a person to whom the notice required under this section must be given occurs on or after the notice of default is recorded, the trustee shall, if and when the trustee has knowledge of the disability, insanity or death, promptly give the guardian, the conservator of the estate or the administrator or personal representative the required notice by sending the notice by first class and certified mail with return receipt requested to all addresses on file with the trustee for the guardian, conservator or administrator or personal representative, including post office boxes.
(c) If there is no administrator or personal representative of the estate of the person to whom the notice required under this section must be given, the notice may be given instead to the heirs at law or devisees of the deceased person in the manner and by the time set forth in this section.
(5) If the owner of real property subject to foreclosure dies and the real property is also subject to a transfer on death deed, as provided by ORS § 93.948 to 93.979, the notice required under this section must be given to the beneficiary designated under the transfer on death deed. [Formerly 86.740; 2017 c.251 § 6]
[1959 c.625 § 11; 1965 c.457 § 8; renumbered 86.794 in 2013]