2019 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 086 - Mortgages; Trust Deeds
Section 86.722 - Correction of error concerning status or effect of trust deed; rights of bona fide purchaser.
(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
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):
[ ] Erroneous reconveyance
of trust deed
Date of recording:
County clerk instrument record #:
[ ] Erroneous recording of
Trustee’s Deed
Date of recording:
County clerk instrument record #:
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.
Date _____
Name (printed) _________
Signature _________
STATE OF OREGON )
) ss.
County of_____ )
The foregoing instrument was acknowledged before me this ___ day of________, 2___, by________.
____________
Notary Public for Oregon
My commission expires: ______
STATE OF OREGON )
) ss.
County of_____ )
The foregoing instrument was acknowledged before me this ___ day of________, 2___, by ________ and by ______ of________, a corporation on behalf of the corporation.
Notary Public for Oregon
My commission expires: ______
______________________________________________________________________________
(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. [2009 c.628 §3]
