72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 443
 
                         House Bill 2060
 
Ordered printed by the Speaker pursuant to House Rule 12.00A (5).
  Presession filed (at the request of Joint Interim Committee on
  Judiciary for Oregon State Bar Debtor/Creditor Section)
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Directs trustee foreclosing trust deed by sale to file
affidavit in county records describing entire amount that must be
paid or performance required to cure default. Directs trustee to
mail copy of affidavit to persons entitled to receive notice of
sale.
 
                        A BILL FOR AN ACT
Relating to trust deeds; creating new provisions; and amending
  ORS 86.750 and 86.780.
Be It Enacted by the People of the State of Oregon:
  SECTION 1. ORS 86.750 is amended to read:
  86.750. (1) The notice prescribed in ORS 86.745 shall be served
upon an occupant of the property described in the trust deed in
the manner in which a summons is served pursuant to ORCP 7 D(2)
and D(3) at least 120 days before the day the trustee conducts
the sale.
  (2) A copy of the notice of sale shall be published in a
newspaper of general circulation in each of the counties in which
the property is situated once a week for four successive weeks.
The last publication shall be made more than 20 days prior to the
date the trustee conducts the sale.
  (3) On or before the date the trustee conducts the sale, an
affidavit of mailing notice of sale, proof of service (if any)
 { - , - } and an affidavit of publication of notice of sale
shall be recorded in the official records in the county or
counties in which the property described in the deed is
situated. { +  The affidavit of mailing notice of sale shall
state that the affidavit described in subsection (4) of this
section was recorded and mailed as required by subsection (4) of
this section.
  (4) Not later than 15 days before the date last set for the
sale:
  (a) An affidavit shall be recorded in the official records in
the county or counties in which the property described in the
deed is situated. The affidavit shall describe the entire amount
that must be paid to cure the default of the trust deed
obligation or the performance required to cure the default of the
trust deed obligation, including the total amount due to pay the
 
debt as of the date last set for the sale, all costs of
foreclosure, trustee fees and attorney fees; and
  (b) A copy of the affidavit described in paragraph (a) of this
subsection shall be mailed by both first class and certified mail
with return receipt requested to each person to whom notice must
be served or mailed under ORS 86.740 and subsection (1) of this
section. + }
  SECTION 2. ORS 86.780 is amended to read:
  86.780. When the trustee's deed is recorded in the deed records
of the county or counties where the property described in the
deed is situated, the recitals contained in the deed and in the
affidavits required under ORS 86.750 (3)  { + and (4) + } shall
be prima facie evidence in any court of the truth of the matters
set forth therein, but the recitals shall be conclusive in favor
of a purchaser for value in good faith relying upon them.
  SECTION 3.  { + The amendments to ORS 86.750 and 86.780 by
sections 1 and 2 of this 2003 Act apply to any sale conducted
under ORS 86.705 to 86.795 on or after the effective date of this
2003 Act. + }
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