Oregon Statutes 223.595 – Validation of prior foreclosure proceedings
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All foreclosure proceedings had or taken prior to May 28, 1927, by any municipal corporation which substantially comply with the provisions of ORS § 223.505 to 223.590 hereby are declared to be legal and valid to the same extent as if they were had or taken under those sections.
Terms Used In Oregon Statutes 223.595
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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