Oregon Statutes 87.272 – Petition for foreclosure without suit
A person claiming a lien created by ORS § 87.216 to 87.232 may obtain an order for the foreclosure of the lien by advertisement and sale by filing with the clerk of the court of the county in which the chattel is then located and from which that order is sought a sworn petition requesting an order for foreclosure of the lien by advertisement and sale and showing, to the best knowledge, information and belief of the lien claimant:
Terms Used In Oregon Statutes 87.272
- 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
- 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
(1) The name and residence or place of business of the lien debtor;
(2) The name and residence or place of business of the person in possession of the chattel subject to the lien;
(3) The description of the chattel subject to the lien in particularity sufficient to make possible its identification, and the lien claimant’s estimate of the value and location of the chattel;
(4) A copy or verbatim recital of the notice of claim of lien filed by the lien claimant under ORS § 87.242;
(5) That there is no reasonable probability that the lien debtor can establish a successful defense to the underlying claim of the lien; and
(6) That the person filing the petition under this section has fully complied with the notice and filing requirements of ORS § 9.370, 87.142 to 87.490, 87.705, 87.710, 87.910 and 90.120. [1975 c.648 § 27]
[Repealed by 1975 c.648 § 72]