(1) A person that forecloses a lien created under ORS § 87.152 to 87.162 by sale shall file a statement of account that the person verifies by oath with the recording officer of the county in which the sale took place if:

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Terms Used In Oregon Statutes 87.202

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • 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.
  • Oath: A promise to tell the truth.
  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100

(a) The chattel sold at the foreclosure sale has a fair market value of $1,000 or more; or

(b) The chattel sold at the foreclosure sale is an animal that bears a brand or other mark recorded with the State Department of Agriculture under ORS Chapter 604.

(2) The statement of account required under subsection (1) of this section must show:

(a) The amount of the lien claim and the cost of foreclosing the lien;

(b) A copy of the published or posted notice of foreclosure sale;

(c) The amount received for the chattel sold at the sale; and

(d) The name of each person that received proceeds from the foreclosure sale as described in ORS § 87.206 and the amount each person received.

(3) A person that files a statement of account under this section shall send a copy of the statement by registered or certified mail to the last-known address of the owner of the chattel sold at the foreclosure sale. If the chattel sold at a foreclosure sale is an animal that bears a brand or other mark recorded with the State Department of Agriculture under ORS Chapter 604, a person that files a statement of account under this section shall send a copy of the statement to the State Department of Agriculture. [1975 c.648 § 13; 2005 c.86 § 2; 2013 c.206 § 1]

 

[Repealed by 1975 c.648 § 72]

 

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