Terms Used In Oregon Statutes > Chapter 566 - Extension and Field Work; Rural Rehabilitation

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Board: means the State Land Board. See Oregon Statutes 273.006
• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Department: means the Department of State Lands. See Oregon Statutes 273.006
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• 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}
• Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 273.006
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• State land: means public land controlled by the Department of State Lands. See Oregon Statutes 273.006
• State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Trustee: A person or institution holding and administering property in trust.