Oregon Statutes 224.120 – Sale without foreclosure
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In case of a sale without a foreclosure in court a duplicate certificate of sale shall be made by the city official making the sale and recorded with the county clerk or other officer having charge of mortgage records of the county. In case of redemption or issuance of a deed upon such certificate of sale a further certificate of such fact shall be made by the proper city official and shall be recorded in the same manner. [Amended by 1999 c.654 § 25]
Terms Used In Oregon Statutes 224.120
- City: includes any incorporated village or town. See Oregon Statutes 174.100
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.