Oregon Statutes 86.794 – Disposition of proceeds of sale
Current as of: 2023 | Check for updates
|
Other versions
The trustee shall apply the proceeds of the trustee’s sale as follows:
Terms Used In Oregon Statutes 86.794
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Trustee: A person or institution holding and administering property in trust.
(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 subsequent to the interest of the trustee in the trust deed as their interests may appear in the order of their priority.
(4) The surplus, if any, to the grantor of the trust deed or to the successor in interest of the grantor entitled to such surplus. [Formerly 86.765]
[1959 c.625 § 19; 1961 c.616 § 7; 1965 c.457 § 10; renumbered 86.809 in 2013]