Oregon Statutes 93.779 – Definitions for ORS 93.779 to 93.802
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As used in ORS § 93.779 to 93.802:
Terms Used In Oregon Statutes 93.779
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(1) ‘Master form instrument’ means an instrument containing a form or forms of covenants, conditions, obligations, powers and other clauses of a mortgage, a trust deed or an instrument creating affordable housing covenants.
(2) ‘Short form instrument’ means a short form mortgage, a short form trust deed or any instrument that documents a real estate transaction that incorporates by reference and applies all or any affordable housing covenants created in a recorded master form instrument into the transaction. [2012 c.6 § 2]