Oregon Statutes 86.789 – Information provided by trustee
(1) The written statement of information provided by a trustee under ORS § 86.786 shall include:
Terms Used In Oregon Statutes 86.789
- 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
- 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.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Trustee: A person or institution holding and administering property in trust.
(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 per diem interest; and
(b) A description of any other performance necessary to cure the default or satisfy the obligation.
(2) If the amount required to cure the default or satisfy the obligation is not calculable to an exact amount, the trustee may estimate the maximum amount required to cure the default or satisfy the obligation.
(3) If the trustee does not provide the written statement of information within the time specified in ORS § 86.786, the trustee may postpone the sale of the property to provide the person requesting the written statement of information at least seven days between receipt of the statement and the date of the sale.
(4) A person requesting a written statement of information under ORS § 86.786 has the rights of an omitted person under ORS § 86.767 if:
(a) The person requesting the statement proves that the person sent a written request under ORS § 86.786 at least 15 days before the date of sale; and
(b) The trustee cannot prove that the trustee sent the written statement of information at least seven days before the date of the sale.
(5) The provisions of this section and ORS § 86.786 do not affect the duty of beneficiaries to provide information to grantors. [Formerly 86.759]
[1959 c.625 § 3; 1967 c.359 § 680; 1975 c.618 § 2a; 1979 c.879 § 5; 1981 c.192 § 1; 1983 c.719 § 9; 1989 c.190 § 7; 1997 c.70 § 1; 1997 c.631 § 388; 2003 c.364 § 50; 2013 c.125 § 2; 2013 c.465 § 6; renumbered 86.713 in 2013]