Oregon Statutes 93.802 – Recordation of short form instrument
(1) After a master form instrument is recorded in a county under ORS § 93.779 to 93.802, an instrument entitled ‘Short Form Mortgage,’ ‘Short Form Trust Deed‘ or ‘Short Form Instrument Creating Affordable Housing Covenants’ may be recorded.
Terms Used In Oregon Statutes 93.802
- 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.
- 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.
(2) The short form instrument must contain the title of the short form instrument, the names of all parties involved in the encumbrance of the real property described in the short form instrument, the legal description of the property that is encumbered by the short form instrument, the amount of the encumbrance, the date on which the short form instrument was executed and any other information required by law for recording the short form instrument.
(3) Any provision of the master form instrument recorded under ORS § 93.779 to 93.802 may be incorporated in the short form instrument by reference to:
(a) The date when and the book and page or fee number where the master form instrument was recorded; and
(b) Any specific provision of the master form instrument that applies to the short form instrument.
(4) A short form instrument recorded under this section must describe provisions in the short form instrument that deviate in any respect from the provisions of the recorded master form instrument.
(5) The person presenting a short form instrument for recording shall cause a complete copy of the master form instrument to which reference is made in the short form instrument to be provided or disclosed to each party involved in the encumbrance of the real property described in the short form instrument. [1991 c.230 § 20; 2012 c.6 § 6]