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Oregon Revised Statutes Mortgages and Liens § 87.202

Current as of January 01, 2023 | Updated by Findlaw Staff

(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:

(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.

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Cite this article: FindLaw.com - Oregon Revised Statutes Mortgages and Liens § 87.202 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-9-mortgages-and-liens/or-rev-st-sect-87-202/

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