Oregon Revised Statutes Mortgages and Liens § 86.722

(1) To correct an error concerning the status or effect of a recorded trust deed, a person may present an instrument to the county clerk for recording in the deed and mortgage records of the county, and the county clerk shall record the instrument if it otherwise meets the requirements for an instrument to be recorded under ORS chapter 205 and is in substantially the following form:

CORRECTION OF ERROR(S) IN THE DEED AND MORTGAGE RECORDS RELATING TO A TRUST DEED (ORS 86.705 to 86.815)

This instrument is recorded to provide notice of an error relating to:

Original Deed of Trust

County clerk instrument record #:

Grantor (name):

Trustee (name):

Beneficiary (name):

Assignee(s), if any (name(s)):

The error to be corrected is (check one):

The result of this error correction is (check one):

[ ] The original trust deed is hereby reinstated; or

[ ] The Trustee's Deed is hereby set aside as though the erroneous instrument had not been recorded.

The foregoing instrument was acknowledged before me this ___ day of __________, 2___, by __________.

The foregoing instrument was acknowledged before me this ___ day of __________, 2___, by __________ and by __________ of __________, a corporation on behalf of the corporation.

(2) Reinstatement of a trust deed based on the correction of an error under this section does not affect the rights of a bona fide purchaser for value or of a bona fide purchaser for value holding a security interest in the real property if the purchaser acquired an interest after the erroneous trust deed reconveyance or trustee's deed was recorded and before the error was corrected.