Chapter 345
AN ACT
SB 613
Relating to assignment of mortgages; creating new provisions; and
amending ORS 205.234.
Be It Enacted by the People of
the State of
SECTION 1. ORS 205.234 is amended to read:
205.234. (1) When any instrument is presented to a county clerk for
recording, the first page of the instrument shall contain at least:
(a) The names of the
transactions as required in ORS 205.236;
(b) The names of the
persons described in ORS 205.125 (1)(a) and (b) and
205.160;
(c) The person and
address (for mailing purposes only) to whom the
instrument will be delivered as provided in ORS 205.180;
(d) For instruments
conveying or contracting to convey fee title to any real estate and all
memoranda of such instruments, the true and actual consideration paid for such
transfer as required by ORS 93.030;
(e) For instruments
conveying or contracting to convey fee title to any real estate, the tax
statement information required by ORS 93.260; [and]
(f) For instruments
recorded in the County Clerk Lien Record, the information described in ORS
205.125 (1)(c) and (e)[.]; and
(g) For instruments
assigning a mortgage or trust deed, the name and address of the assignee
mortgagee or assignee trust deed beneficiary.
(2) Notwithstanding ORS
205.327, if an instrument presented for recording does not contain the
information required by subsection (1)[(a)
to (f)] of this section, a cover sheet may be prepared that contains the
required information. The cover sheet shall be prepared by the person
presenting the instrument for recording. The cover sheet may be attached to the
instrument and shall be recorded as a part of the instrument. Any errors in the
cover sheet shall not affect the transactions contained in the instrument
itself. The cover sheet need not be separately signed or acknowledged.
SECTION 2. The amendments to ORS 205.234 by section 1
of this 2007 Act apply to instruments assigning a mortgage or trust deed that
are presented to a county clerk on or after the effective date of this 2007 Act
for recording.
Approved by the Governor June 11, 2007
Filed in the office of Secretary of State June 13, 2007
Effective date January 1, 2008
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