Bill Text: OR HB2929 | 2013 | Regular Session | Enrolled
Bill Title: Relating to trustee's sales of foreclosed property.
Sponsorship: Committee Bill
Status: (Passed) 2013-06-24 - Chapter 465, (2013 Laws): Effective date January 1, 2014. [HB2929 Detail]
Download: Oregon-2013-HB2929-Enrolled.html
77th OREGON LEGISLATIVE ASSEMBLY--2013 Regular Session
Enrolled
House Bill 2929
Sponsored by COMMITTEE ON CONSUMER PROTECTION AND GOVERNMENT
EFFICIENCY
CHAPTER ................
AN ACT
Relating to trustee's sales of foreclosed property; creating new
provisions; and amending ORS 86.705, 86.755 and 86.790.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 86.755, as amended by section 9, chapter 112,
Oregon Laws 2012, is amended to read:
86.755. (1)(a) A trustee shall hold a trustee's sale on the
date and at the time and place designated in the notice of sale
given under ORS 86.740. The designated time of the trustee's sale
must be after 9 a.m. and before 4 p.m., based on the standard of
time set forth in ORS 187.110, and the designated place of the
trustee's sale must be in the county or one of the counties in
which the property is situated. Except as provided in paragraph
(b) of this subsection, the trustee may sell the property in one
parcel or in separate parcels and shall sell the parcel or
parcels at auction to the highest bidder for cash. Any person,
including the beneficiary under the trust deed, but excluding the
trustee, may bid at the trustee's sale. An attorney for the
trustee, or an agent that the trustee or the attorney designates,
may conduct the sale and act in the sale as the trustee's
auctioneer.
(b) If the trustee sells property upon which a single
residential unit that is subject to an affordable housing
covenant is situated, the eligible covenant holder may purchase
the property from the trustee at the trustee's sale for cash or
cash equivalent in an amount that is the lesser of:
(A) The sum of the amounts payable under ORS 86.765 (1) and
(2); or
(B) The highest bid received for the property other than a bid
from the eligible covenant holder.
(c)(A) Except as provided in subparagraph (B) of this
paragraph, if an eligible covenant holder purchases the property
in accordance with paragraph (b) of this subsection, the sale
forecloses and terminates all other interests in the property as
provided in ORS 86.770 (1).
(B) If an interest in the property exists that is prior to the
eligible covenant holder's interest, other than the interest set
forth in the trust deed that was the subject of the foreclosure
proceeding under ORS 86.735, notwithstanding the provisions of
ORS 86.770 (1) the sale does not foreclose and terminate the
prior interest and the eligible covenant holder's title to the
property is subject to the prior interest.
Enrolled House Bill 2929 (HB 2929-B) Page 1
(2)(a) The trustee or the attorney for the trustee, or an agent
that the trustee or the attorney conducting the sale designates,
may postpone the sale for one or more periods that total not more
than 180 days from the original sale date, giving notice of each
postponement by public proclamation made at the time and place
set for sale. The trustee, the attorney or an agent that the
trustee or the attorney designates may make the proclamation.
(b) If a person postpones the sale date as provided in
paragraph (a) of this subsection, the trustee, in the manner
provided for service of the notice of sale under ORS 86.740 (1),
shall cause written notice of the new time, date and place for
the sale to be served on the grantor and on any person to whom
notice of the sale was given under ORS 86.745. The notice must be
given at least 15 days before the new sale date. The person may
postpone the sale once, for not more than two calendar days,
without giving notice as provided in this paragraph. The person
may not postpone the sale for more than two calendar days or more
than once without giving notice as provided in this paragraph.
(3) The purchaser shall pay at the time of sale the price bid
or the price determined in accordance with subsection (1)(b) of
this section, and, within 10 days following payment, the trustee
shall execute and deliver the trustee's deed to the purchaser.
{ - (4) The trustee's deed shall convey to the purchaser the
interest in the property that the grantor had, or had the power
to convey, at the time the grantor executed the trust deed,
together with any interest the grantor or the grantor's
successors in interest acquire after the execution of the trust
deed. - }
{ + (4)(a) Within 10 calendar days after the date of the
trustee's sale, the trustee may rescind the trustee's sale and
void the trustee's deed only if:
(A) The trustee asserts that during the trustee's sale a bona
fide error occurred in:
(i) Setting, advertising or otherwise specifying the opening
bid amount for the property that is the subject of the trustee's
sale;
(ii) Providing a correct legal description of the property that
is the subject of the trustee's sale; or
(iii) Complying with a requirement or procedure that is imposed
by law;
(B) The grantor and the beneficiary agreed to a foreclosure
avoidance measure, as defined in section 2, chapter 112, Oregon
Laws 2012, that would postpone or discontinue the trustee's sale;
or
(C) The beneficiary accepted funds to reinstate the trust deed
and obligation in accordance with ORS 86.753, even if the
beneficiary did not have a legal duty to do so.
(b) Within 10 calendar days after the date of the trustee's
sale that the trustee rescinded under paragraph (a) of this
subsection, the trustee shall provide notice of the rescission of
the trustee's sale to any person to whom notice of the sale was
given. The trustee shall mail or serve notice of the rescission
in the manner provided for serving or mailing the notice of sale
under ORS 86.740 (1). The notice of rescission must:
(A) Display the date on which the trustee mailed the notice,
served the notice or delivered the notice for service; and
(B) State that, and explain why, the trustee rescinded the
trustee's sale and voided the trustee's deed.
(c) Not later than three calendar days after the date displayed
on the rescission notice described in paragraph (b) of this
Enrolled House Bill 2929 (HB 2929-B) Page 2
subsection, the trustee shall refund to the purchaser the amount
the purchaser paid for the property that is the subject of the
rescission notice.
(d) If the trustee rescinded a trustee's sale and voided a
trustee's deed in accordance with this subsection, the trustee,
not later than 21 days after the date of the trustee's sale that
resulted in the rescission, shall present for recording an
affidavit that states that the trustee provided the notice of
rescission described in paragraph (b) of this subsection. The
affidavit must identify the trust deed that was subject to the
rescinded trustee's sale and the voided trustee's deed.
(e) The trustee's deed conveys to the purchaser the interest in
the property that the grantor had, or had the power to convey, at
the time the grantor executed the trust deed, together with any
interest the grantor or the grantor's successors in interest
acquire after the execution of the trust deed. + }
(5)(a) If property purchased at the trustee's sale includes one
or more dwelling units that are subject to ORS chapter 90, the
purchaser must provide written notice of { + the + } change in
ownership to the occupants of each unit within 30 days after the
date of sale and before or concurrently with service of a written
termination notice authorized by subsection (6)(c)(B) of this
section.
(b) The notice required by this subsection must:
(A) Explain that the dwelling unit has been sold at a
foreclosure sale and that the purchaser at { - that - } { +
the foreclosure + } sale is the new owner.
(B) Include the date on which the foreclosure sale took place.
(C) Include the name, contact address and contact telephone
number of the purchaser or the purchaser's representative.
(D) Provide information about the rights of bona fide
residential tenants as provided in subsections (6)(c) and (e) and
(9)(a) of this section.
(E) Include contact information for the Oregon State Bar and a
person or organization that provides legal help to individuals at
no charge to the individual.
(c) The notice must be served by one or more of the following
methods:
(A) Personal delivery to the tenant.
(B) First class mail to the tenant at the dwelling unit.
(C) First class mail to the tenant at the dwelling unit and
attachment of a second notice copy. The second notice copy must
be attached in a secure manner to the main entrance to the
portion of the premises in the possession of the tenant.
(D) If { + the purchaser does not know + } the names of the
tenants
{ - are not known to the purchaser - } , the notice may be
addressed to ' occupants. '
(d) A notice that contains the information required under
paragraph (b)(B) and (C) of this subsection meets the
requirements of paragraph (b) of this subsection if the notice is
in substantially the following form:
_________________________________________________________________
NOTICE TO RESIDENTIAL TENANTS OF
CHANGE IN OWNERSHIP
The property in which you are living has gone through
foreclosure and was sold to a new owner on ________ (date). The
contact information for the new owner or the owner's
Enrolled House Bill 2929 (HB 2929-B) Page 3
representative is ______________ (name, address, telephone
number).
IF YOU ARE A BONA FIDE TENANT RENTING THIS PROPERTY AS A
RESIDENTIAL DWELLING, YOU HAVE THE RIGHT TO CONTINUE LIVING IN
THIS PROPERTY AFTER THE FORECLOSURE SALE FOR:
o THE REMAINDER OF YOUR FIXED TERM LEASE, IF YOU HAVE A FIXED
TERM LEASE; OR
o AT LEAST 90 DAYS FROM THE DATE YOU ARE GIVEN A WRITTEN
TERMINATION NOTICE.
If the new owner wants to move in and use this property as a
primary residence, the new owner can give you written notice and
require you to move out after 90 days, even though you have a
fixed term lease with more than 90 days left.
You must be provided with at least 90 days' written notice
after the foreclosure sale before you can be required to move.
A bona fide tenant is a residential tenant who is not the
borrower (property owner), or a child, spouse or parent of the
borrower, and whose rental agreement:
o Is the result of an arm's-length transaction;
o Requires the payment of rent that is not substantially less
than fair market rent for the property, unless the rent is
reduced or subsidized due to a federal, state or local subsidy;
and
o Was entered into prior to the date of the foreclosure sale.
IMPORTANT:
YOU SHOULD CONTACT THE NEW OWNER OR THE OWNER'S REPRESENTATIVE
AT THE ADDRESS LISTED ON THIS NOTICE AS SOON AS POSSIBLE TO LET
THE NEW OWNER KNOW IF YOU ARE A BONA FIDE TENANT. YOU SHOULD
PROVIDE WRITTEN EVIDENCE OF THE EXISTENCE OF YOUR RENTAL
AGREEMENT, ESPECIALLY IF YOU HAVE A FIXED TERM RENTAL AGREEMENT
OR LEASE WITH MORE THAN 90 DAYS LEFT. Written evidence of your
rental agreement can be a copy of your lease or rental agreement,
or other documentation of the existence of your rental agreement.
Keep your original documents and a record of any information you
give to the new owner.
YOUR TENANCY
BETWEEN NOW
AND THE MOVE-OUT DATE
The new owner may be willing to allow you to stay as a tenant
instead of requiring you to move out after 90 days or at the end
of your fixed term lease. You should contact the new owner if you
would like to stay. If the new owner accepts rent from you, signs
a new residential rental agreement with you or does not notify
you in writing within 30 days after the date of the foreclosure
sale that you must move out, the new owner becomes your new
landlord and must maintain the property. Otherwise:
o You do not owe rent;
o The new owner is not your landlord and is not responsible for
maintaining the property; and
o You must move out by the date the new owner specifies in a
notice to you.
The new owner may offer to pay your moving expenses and any
other costs or amounts you and the new owner agree on in exchange
for your agreement to leave the premises in less than 90 days or
before your fixed term lease expires. You should speak with a
lawyer to fully understand your rights before making any
decisions regarding your tenancy.
IT IS UNLAWFUL FOR ANY PERSON TO TRY TO FORCE YOU TO LEAVE YOUR
DWELLING UNIT WITHOUT FIRST GIVING YOU WRITTEN NOTICE AND GOING
Enrolled House Bill 2929 (HB 2929-B) Page 4
TO COURT TO EVICT YOU. FOR MORE INFORMATION ABOUT YOUR RIGHTS,
YOU SHOULD CONSULT A LAWYER. If you believe you need legal
assistance, contact the Oregon State Bar and ask for the lawyer
referral service. Contact information for the Oregon State Bar is
included with this notice. If you do not have enough money to pay
a lawyer and are otherwise eligible, you may be able to receive
legal assistance for free. Information about whom to contact for
free legal assistance is included with this notice.
_________________________________________________________________
(6)(a) Except as provided in paragraph (b) or (c) of this
subsection, the purchaser at the trustee's sale is entitled to
possession of the property on the 10th day after the sale. A
person that remains in possession after the 10th day under any
interest, except an interest prior to the trust deed, or an
interest the grantor or a successor of the grantor created
voluntarily, is a tenant at sufferance. The purchaser may obtain
possession of the property from a tenant at sufferance by
following the procedures set forth in ORS 105.105 to 105.168 or
other applicable judicial procedure.
(b) Except as provided in paragraph (c) of this subsection, at
any time after the trustee's sale the purchaser may follow the
procedures set forth in ORS 105.105 to 105.168 or other
applicable judicial procedure to obtain possession of the
property from a person that holds possession under an interest
that the grantor or a successor of the grantor created
voluntarily if, not earlier than 30 days before the date first
set for the sale, the person was served with not less than 30
days' written notice of the requirement to surrender or deliver
possession of the property.
(c) If the property purchased at the trustee's sale includes a
dwelling unit that is subject to ORS chapter 90 and an individual
occupies the unit under a bona fide tenancy, the purchaser may
obtain possession by following the procedures set forth in ORS
105.105 to 105.168 and by using the complaint form provided in
ORS 105.124 or 105.126:
(A) { - Upon expiration of - } { + After + } the fixed term
of the tenancy { + expires + }, if the bona fide tenancy is a
fixed term tenancy as defined in ORS 90.100; or
(B) At least 90 days after service of a written termination
notice if the bona fide tenancy is:
(i) A fixed term tenancy and the purchaser intends to occupy,
as the purchaser's primary residence, the dwelling unit that is
subject to the fixed term tenancy; or
(ii) A month-to-month tenancy or week-to-week tenancy, as those
terms are defined in ORS 90.100.
(d) If a purchaser gives a 90-day written termination notice
pursuant to paragraph (c) of this subsection, the purchaser may
include in the notice a request that a tenant with a fixed term
tenancy provide written evidence of the existence of the tenancy
to the purchaser at an address described in the notice. Written
evidence includes a copy of the rental agreement or another
document that shows the existence of the fixed term tenancy.
{ - Failure of the tenant - } { + The tenant's failure + } to
provide the requested written evidence before the purchaser files
an action for possession based on a 90-day notice:
(A) Does not prevent the tenant from asserting the existence of
the fixed term tenancy as a defense to the action.
(B) Prevents the tenant from recovering prevailing party
attorney fees or costs and disbursements pursuant to subsection
Enrolled House Bill 2929 (HB 2929-B) Page 5
(11)(b) of this section. The 90-day notice must describe the
provisions of this paragraph.
(e) A purchaser may not commence a proceeding under ORS 105.105
to 105.168 that is authorized under this subsection before the
later of:
(A) The 10th day after the trustee's sale;
(B) The date specified in a written notice of the requirement
to surrender or deliver possession of the property if the notice
is required by and is given to the person in accordance with
paragraph (b) of this subsection;
(C) The date specified in a written notice of the purchaser's
intent to terminate a tenancy if the notice is required by and is
given to the person in accordance with paragraph (c) of this
subsection; or
(D) The date on which the term of a fixed term tenancy ends, if
the property is a dwelling unit and the purchaser has not
terminated the tenancy in accordance with paragraph (c) of this
subsection.
(f) A purchaser { - seeking - } { + that seeks + } to
obtain possession pursuant to ORS 105.105 to 105.168 must attach
proof of service of a written termination notice required by
paragraph (c) of this subsection to the pleadings.
(g) In an action to obtain possession, violation of the
procedures required by subsection (5) of this section or
paragraph (c) of this subsection is a defense for a bona fide
tenant seeking to retain possession.
(h) As used in this subsection, 'bona fide tenancy' means
tenancy of a dwelling unit that is subject to ORS chapter 90 that
results from an arm's-length transaction that occurred before the
date of a foreclosure sale in which:
(A) The mortgagor or the child, spouse or parent of the
mortgagor under the contract is not the tenant; and
(B) The rent required is not substantially less than fair
market rent for the dwelling unit, unless the rent is reduced or
subsidized due to a federal, state or local subsidy.
(7) A purchaser shall serve a notice under subsection (6) of
this section by one or more of the following methods:
(a) Personal delivery to the tenant.
(b) First class mail to the tenant at the dwelling unit.
(c) First class mail to the tenant at the dwelling unit and
attachment of a second notice copy. The second notice copy must
be attached in a secure manner to the main entrance to the
portion of the premises in the possession of the tenant.
(8) If the notice under subsection (6) of this section is
served by mail pursuant to subsection (7)(b) of this section, the
minimum period for compliance must be extended by three days and
the notice must include the extension in the period stated in the
notice.
(9)(a) Notwithstanding the provisions of subsection (6)(c) of
this section and except as provided in paragraph (b) of this
subsection, the purchaser is not a landlord subject to the
provisions of ORS chapter 90 unless the purchaser:
(A) Accepts rent from the individual who possesses the property
under a tenancy described in subsection (6)(c) of this section;
(B) Enters into a new rental agreement with the individual who
possesses the property under a tenancy described in subsection
(6)(c) of this section; or
(C) Fails to terminate the tenancy as provided in subsection
(6)(c) of this section within 30 days after the date of the sale.
Enrolled House Bill 2929 (HB 2929-B) Page 6
(b) The purchaser may act as a landlord for purposes of
terminating a tenancy in accordance with the provisions of ORS
90.396.
(c) The purchaser is subject to the provisions of ORS 90.322,
90.375, 105.165, 659A.421 and 659A.425. The application of ORS
90.375 to a purchaser that does not become a landlord does not
impose an affirmative duty to pay for or provide services. For
the purpose of damages pursuant to this paragraph, 'rent' refers
to the amount { - paid by - } the tenant { + pays + } to the
landlord for the right to occupy the unit before the foreclosure.
(10)(a) Except as provided in paragraph (b) of this subsection,
the purchaser is not liable to the individual who possesses the
property under a tenancy described in subsection (6)(c) of this
section for:
(A) Damage to the property or diminution in rental value; or
(B) Returning a security deposit.
(b) A purchaser that is a landlord under the provisions of
subsection (9)(a) of this section is liable to the individual who
possesses the property under a tenancy described in subsection
(6)(c) of this section for:
(A) Damage to the property or diminution in rental value that
occurs after the date of the trustee's sale; or
(B) Returning a security deposit the individual pays after the
date of the trustee's sale.
(11)(a) Except as provided in paragraph (b) of this subsection
and notwithstanding an agreement to the contrary, in an action or
defense arising pursuant to subsection (6)(c), (d), (f) or (g),
(7) or (9)(c) of this section, reasonable attorney fees at trial
and on appeal may be awarded to the prevailing party together
with costs and disbursements.
(b) If a tenant asserts a successful defense to an action for
possession pursuant to subsection (6)(c), (d), (f) or (g) of this
section, the tenant is not entitled to prevailing party fees,
attorney fees or costs and disbursements if the purchaser:
(A) Did not know, and did not have reasonable cause to know, of
the existence of a fixed term tenancy when commencing the action
for possession; and
(B) Promptly dismissed the action upon becoming aware of the
existence of a fixed term tenancy.
(c) As used in this subsection, 'prevailing party' means the
party in whose favor final judgment is rendered.
(12)(a) Notwithstanding subsection (2) of this section, except
when a beneficiary has participated in obtaining a stay,
foreclosure proceedings that are stayed by order of the court, by
proceedings in bankruptcy or for any other lawful reason shall,
after release from the stay, continue as if uninterrupted, if
within 30 days after release the trustee sends amended notice of
sale by registered or certified mail to the last-known address of
the persons listed in ORS 86.740 and 86.750 (1).
(b) In addition to the notice required under paragraph (a) of
this subsection, the trustee shall send amended notice of sale:
(A) By registered or certified mail to:
(i) The address provided by each person who was present at the
time and place set for the sale that was stayed; and
(ii) The address provided by each member of the Oregon State
Bar who by registered or certified mail requests the amended
notice of sale and includes with the request the notice of
default or an identification number for the trustee's sale that
would assist the trustee in identifying the property subject to
Enrolled House Bill 2929 (HB 2929-B) Page 7
the trustee's sale and a self-addressed, stamped envelope
measuring at least 8.5 by 11 inches in size; or
(B) By posting a true copy or a link to a true copy of the
amended notice of sale on the trustee's Internet website.
(13) The amended notice of sale must:
(a) Be given at least 20 days before the amended date of sale;
(b) Set an amended date of sale that may be the same as the
original sale date, or date to which the sale was postponed,
provided the requirements of this subsection and ORS 86.740 and
86.750 are satisfied;
(c) Specify the time and place for sale;
(d) Conform to the requirements of ORS 86.745; and
(e) State that the original sale proceedings were stayed and
the date the stay terminated.
(14) If the publication of the notice of sale was not completed
before the date the foreclosure proceedings were stayed by order
of the court, by proceedings in bankruptcy or for any other
lawful reason, after release from the stay, in addition to
complying with the provisions of subsections (12) and (13) of
this section, the trustee shall complete the publication by
publishing an amended notice of sale that states that the notice
has been amended following release from the stay and that
contains the amended date of sale. The amended notice must 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, except that the required number of publications
must be reduced by the number of publications that were completed
before the effective date of the stay. The last publication must
be made more than 20 days before the date the trustee conducts
the sale.
SECTION 2. ORS 86.755, as amended by section 7, chapter 510,
Oregon Laws 2011, and section 10, chapter 112, Oregon Laws 2012,
is amended to read:
86.755. (1)(a) A trustee shall hold a trustee's sale on the
date and at the time and place designated in the notice of sale
given under ORS 86.740. The designated time of the trustee's sale
must be after 9 a.m. and before 4 p.m., based on the standard of
time set forth in ORS 187.110, and the designated place of the
trustee's sale must be in the county or one of the counties in
which the property is situated. Except as provided in paragraph
(b) of this subsection, the trustee may sell the property in one
parcel or in separate parcels and shall sell the parcel or
parcels at auction to the highest bidder for cash. Any person,
including the beneficiary under the trust deed, but excluding the
trustee, may bid at the trustee's sale. An attorney for the
trustee, or an agent that the trustee or the attorney designates,
may conduct the sale and act in the sale as the trustee's
auctioneer.
(b) If the trustee sells property upon which a single
residential unit that is subject to an affordable housing
covenant is situated, the eligible covenant holder may purchase
the property from the trustee at the trustee's sale for cash or
cash equivalent in an amount that is the lesser of:
(A) The sum of the amounts payable under ORS 86.765 (1) and
(2); or
(B) The highest bid received for the property other than a bid
from the eligible covenant holder.
(c)(A) Except as provided in subparagraph (B) of this
paragraph, if an eligible covenant holder purchases the property
in accordance with paragraph (b) of this subsection, the sale
Enrolled House Bill 2929 (HB 2929-B) Page 8
forecloses and terminates all other interests in the property as
provided in ORS 86.770 (1).
(B) If an interest in the property exists that is prior to the
eligible covenant holder's interest, other than the interest set
forth in the trust deed that was the subject of the foreclosure
proceeding under ORS 86.735, notwithstanding the provisions of
ORS 86.770 (1) the sale does not foreclose and terminate the
prior interest and the eligible covenant holder's title to the
property is subject to the prior interest.
(2)(a) The trustee or the attorney for the trustee, or an agent
that the trustee or the attorney conducting the sale designates,
may postpone the sale for one or more periods that total not more
than 180 days from the original sale date, giving notice of each
postponement by public proclamation made at the time and place
set for sale. The trustee, the attorney or an agent that the
trustee or the attorney designates may make the proclamation.
(b) If a person postpones the sale date as provided in
paragraph (a) of this subsection, the trustee, in the manner
provided for service of the notice of sale under ORS 86.740 (1),
shall cause written notice of the new time, date and place for
the sale to be served on the grantor and on any person to whom
notice of the sale was given under ORS 86.745. The notice must be
given at least 15 days before the new sale date. The person may
postpone the sale once, for not more than two calendar days,
without giving notice as provided in this paragraph. The person
may not postpone the sale for more than two calendar days or more
than once without giving notice as provided in this paragraph.
(3) The purchaser shall pay at the time of sale the price bid
or the price determined in accordance with subsection (1)(b) of
this section, and, within 10 days following payment, the trustee
shall execute and deliver the trustee's deed to the purchaser.
{ - (4) The trustee's deed shall convey to the purchaser the
interest in the property that the grantor had, or had the power
to convey, at the time the grantor executed the trust deed,
together with any interest the grantor or the grantor's
successors in interest acquire after the execution of the trust
deed. - }
{ + (4)(a) Within 10 calendar days after the date of the
trustee's sale, the trustee may rescind the trustee's sale and
void the trustee's deed only if:
(A) The trustee asserts that during the trustee's sale a bona
fide error occurred in:
(i) Setting, advertising or otherwise specifying the opening
bid amount for the property that is the subject of the trustee's
sale;
(ii) Providing a correct legal description of the property that
is the subject of the trustee's sale; or
(iii) Complying with a requirement or procedure that is imposed
by law;
(B) The grantor and the beneficiary agreed to a foreclosure
avoidance measure, as defined in section 2, chapter 112, Oregon
Laws 2012, that would postpone or discontinue the trustee's sale;
or
(C) The beneficiary accepted funds to reinstate the trust deed
and obligation in accordance with ORS 86.753, even if the
beneficiary did not have a legal duty to do so.
(b) Within 10 calendar days after the date of the trustee's
sale that the trustee rescinded under paragraph (a) of this
subsection, the trustee shall provide notice of the rescission of
the trustee's sale to any person to whom notice of the sale was
Enrolled House Bill 2929 (HB 2929-B) Page 9
given. The trustee shall mail or serve notice of the rescission
in the manner provided for serving or mailing the notice of sale
under ORS 86.740 (1). The notice of rescission must:
(A) Display the date on which the trustee mailed the notice,
served the notice or delivered the notice for service; and
(B) State that, and explain why, the trustee rescinded the
trustee's sale and voided the trustee's deed.
(c) Not later than three calendar days after the date displayed
on the rescission notice described in paragraph (b) of this
subsection, the trustee shall refund to the purchaser the amount
the purchaser paid for the property that is the subject of the
rescission notice.
(d) If the trustee rescinded a trustee's sale and voided a
trustee's deed in accordance with this subsection, the trustee,
not later than 21 days after the date of the trustee's sale that
resulted in the rescission, shall present for recording an
affidavit that states that the trustee provided the notice of
rescission described in paragraph (b) of this subsection. The
affidavit must identify the trust deed that was subject to the
rescinded trustee's sale and the voided trustee's deed.
(e) The trustee's deed conveys to the purchaser the interest in
the property that the grantor had, or had the power to convey, at
the time the grantor executed the trust deed, together with any
interest the grantor or the grantor's successors in interest
acquire after the execution of the trust deed. + }
(5)(a) If property purchased at the trustee's sale includes one
or more dwelling units that are subject to ORS chapter 90, the
purchaser must provide written notice of { + the + } change in
ownership to the occupants of each unit within 30 days after the
date of sale and before or concurrently with service of a written
termination notice authorized by subsection (6)(c)(B) of this
section.
(b) The notice required by this subsection must:
(A) Explain that the dwelling unit has been sold at a
foreclosure sale and that the purchaser at { - that - } { +
the foreclosure + } sale is the new owner.
(B) Include the date on which the foreclosure sale took place.
(C) Include the name, contact address and contact telephone
number of the purchaser or the purchaser's representative.
(D) Provide information about the rights of bona fide
residential tenants as provided in subsections (6)(c) and (e) and
(9)(a) of this section.
(E) Include contact information for the Oregon State Bar and a
person or organization that provides legal help to individuals at
no charge to the individual.
(c) The notice must be served by one or more of the following
methods:
(A) Personal delivery to the tenant.
(B) First class mail to the tenant at the dwelling unit.
(C) First class mail to the tenant at the dwelling unit and
attachment of a second notice copy. The second notice copy must
be attached in a secure manner to the main entrance to the
portion of the premises in the possession of the tenant.
(D) If { + the purchaser does not know + } the names of the
tenants
{ - are not known to the purchaser - } , the notice may be
addressed to ' occupants. '
(d) A notice that contains the information required under
paragraph (b)(B) and (C) of this subsection meets the
Enrolled House Bill 2929 (HB 2929-B) Page 10
requirements of paragraph (b) of this subsection if the notice is
in substantially the following form:
_________________________________________________________________
NOTICE TO RESIDENTIAL TENANTS OF
CHANGE IN OWNERSHIP
The property in which you are living has gone through
foreclosure and was sold to a new owner on ________ (date). The
contact information for the new owner or the owner's
representative is _____________ (name, address, telephone
number).
IF YOU ARE A BONA FIDE TENANT RENTING THIS PROPERTY AS A
RESIDENTIAL DWELLING, YOU HAVE THE RIGHT TO CONTINUE LIVING IN
THIS PROPERTY AFTER THE FORECLOSURE SALE FOR:
o 60 DAYS FROM THE DATE YOU ARE GIVEN A WRITTEN TERMINATION
NOTICE, IF YOU HAVE A FIXED TERM LEASE; OR
o AT LEAST 30 DAYS FROM THE DATE YOU ARE GIVEN A WRITTEN
TERMINATION NOTICE, IF YOU HAVE A MONTH-TO-MONTH OR WEEK-TO-WEEK
RENTAL AGREEMENT.
If the new owner wants to move in and use this property as a
primary residence, the new owner can give you written notice and
require you to move out after 30 days, even though you have a
fixed term lease with more than 30 days left.
You must be provided with at least 30 days' written notice
after the foreclosure sale before you can be required to move.
A bona fide tenant is a residential tenant who is not the
borrower (property owner), or a child, spouse or parent of the
borrower, and whose rental agreement:
o Is the result of an arm's-length transaction;
o Requires the payment of rent that is not substantially less
than fair market rent for the property, unless the rent is
reduced or subsidized due to a federal, state or local subsidy;
and
o Was entered into prior to the date of the foreclosure sale.
IMPORTANT:
YOU SHOULD CONTACT THE NEW OWNER OR THE OWNER'S REPRESENTATIVE
AT THE ADDRESS LISTED ON THIS NOTICE AS SOON AS POSSIBLE TO LET
THE NEW OWNER KNOW IF YOU ARE A BONA FIDE TENANT. YOU SHOULD
PROVIDE WRITTEN EVIDENCE OF THE EXISTENCE OF YOUR RENTAL
AGREEMENT, ESPECIALLY IF YOU HAVE A FIXED TERM RENTAL AGREEMENT
OR LEASE WITH MORE THAN 30 DAYS LEFT. Written evidence of your
rental agreement can be a copy of your lease or rental agreement,
or other documentation of the existence of your rental agreement.
Keep your original documents and a record of any information you
give to the new owner.
YOUR TENANCY
BETWEEN NOW
AND THE MOVE-OUT DATE
The new owner may be willing to allow you to stay as a tenant
instead of requiring you to move out after 30 or 60 days. You
should contact the new owner if you would like to stay. If the
new owner accepts rent from you, signs a new residential rental
agreement with you or does not notify you in writing within 30
days after the date of the foreclosure sale that you must move
out, the new owner becomes your new landlord and must maintain
the property. Otherwise:
o You do not owe rent;
o The new owner is not your landlord and is not responsible for
maintaining the property; and
Enrolled House Bill 2929 (HB 2929-B) Page 11
o You must move out by the date the new owner specifies in a
notice to you.
The new owner may offer to pay your moving expenses and any
other costs or amounts you and the new owner agree on in exchange
for your agreement to leave the premises in less than 30 or 60
days. You should speak with a lawyer to fully understand your
rights before making any decisions regarding your tenancy.
IT IS UNLAWFUL FOR ANY PERSON TO TRY TO FORCE YOU TO LEAVE YOUR
DWELLING UNIT WITHOUT FIRST GIVING YOU WRITTEN NOTICE AND GOING
TO COURT TO EVICT YOU. FOR MORE INFORMATION ABOUT YOUR RIGHTS,
YOU SHOULD CONSULT A LAWYER. If you believe you need legal
assistance, contact the Oregon State Bar and ask for the lawyer
referral service. Contact information for the Oregon State Bar is
included with this notice. If you do not have enough money to pay
a lawyer and are otherwise eligible, you may be able to receive
legal assistance for free. Information about whom to contact for
free legal assistance is included with this notice.
_________________________________________________________________
(6)(a) Except as provided in paragraph (b) or (c) of this
subsection, the purchaser at the trustee's sale is entitled to
possession of the property on the 10th day after the sale. A
person that remains in possession after the 10th day under any
interest, except an interest prior to the trust deed, or an
interest the grantor or a successor of the grantor created
voluntarily, is a tenant at sufferance. The purchaser may obtain
possession of the property from a tenant at sufferance by
following the procedures set forth in ORS 105.105 to 105.168 or
other applicable judicial procedure.
(b) Except as provided in paragraph (c) of this subsection, at
any time after the trustee's sale the purchaser may follow the
procedures set forth in ORS 105.105 to 105.168 or other
applicable judicial procedure to obtain possession of the
property from a person that holds possession under an interest
that the grantor or a successor of the grantor created
voluntarily if, not earlier than 30 days before the date first
set for the sale, the person was served with not less than 30
days' written notice of the requirement to surrender or deliver
possession of the property.
(c) If the property purchased at the trustee's sale includes a
dwelling unit that is subject to ORS chapter 90 and an individual
occupies the unit under a bona fide tenancy, the purchaser may
obtain possession by following the procedures set forth in ORS
105.105 to 105.168 and by using the complaint form provided in
ORS 105.124 or 105.126:
(A) At least 60 days after service of a written termination
notice, if the bona fide tenancy is a fixed term tenancy as
defined in ORS 90.100; or
(B) At least 30 days after service of a written termination
notice if the bona fide tenancy is:
(i) A fixed term tenancy and the purchaser intends to occupy,
as the purchaser's primary residence, the dwelling unit that is
subject to the fixed term tenancy; or
(ii) A month-to-month tenancy or week-to-week tenancy, as those
terms are defined in ORS 90.100.
(d) If a purchaser gives a 30-day written termination notice
pursuant to paragraph (c) of this subsection, the purchaser may
include in the notice a request that a tenant with a fixed term
tenancy provide written evidence of the existence of the tenancy
to the purchaser at an address described in the notice. Written
Enrolled House Bill 2929 (HB 2929-B) Page 12
evidence includes a copy of the rental agreement or another
document that shows the existence of the fixed term tenancy.
{ - Failure of the tenant - } { + The tenant's failure + } to
provide the requested written evidence before the purchaser files
an action for possession based on a 30-day notice:
(A) Does not prevent the tenant from asserting the existence of
the fixed term tenancy as a defense to the action.
(B) Prevents the tenant from recovering prevailing party
attorney fees or costs and disbursements pursuant to subsection
(11)(b) of this section. The 30-day notice must describe the
provisions of this paragraph.
(e) A purchaser may not commence a proceeding under ORS 105.105
to 105.168 that is authorized under this subsection before the
later of:
(A) The 10th day after the trustee's sale;
(B) The date specified in a written notice of the requirement
to surrender or deliver possession of the property if the notice
is required by and is given to the person in accordance with
paragraph (b) of this subsection;
(C) The date specified in a written notice of the purchaser's
intent to terminate a tenancy if the notice is required by and is
given to the person in accordance with paragraph (c) of this
subsection; or
(D) The date on which the term of a fixed term tenancy ends, if
the property is a dwelling unit and the purchaser has not
terminated the tenancy in accordance with paragraph (c) of this
subsection.
(f) A purchaser { - seeking - } { + that seeks + } to
obtain possession pursuant to ORS 105.105 to 105.168 must attach
proof of service of a written termination notice required by
paragraph (c) of this subsection to the pleadings.
(g) In an action to obtain possession, violation of the
procedures required by subsection (5) of this section or
paragraph (c) of this subsection is a defense for a bona fide
tenant seeking to retain possession.
(h) As used in this subsection, 'bona fide tenancy' means
tenancy of a dwelling unit that is subject to ORS chapter 90 that
results from an arm's-length transaction that occurred before the
date of a foreclosure sale in which:
(A) The mortgagor or the child, spouse or parent of the
mortgagor under the contract is not the tenant; and
(B) The rent required is not substantially less than fair
market rent for the dwelling unit, unless the rent is reduced or
subsidized due to a federal, state or local subsidy.
(7) A purchaser shall serve a notice under subsection (6) of
this section by one or more of the following methods:
(a) Personal delivery to the tenant.
(b) First class mail to the tenant at the dwelling unit.
(c) First class mail to the tenant at the dwelling unit and
attachment of a second notice copy. The second notice copy must
be attached in a secure manner to the main entrance to the
portion of the premises in the possession of the tenant.
(8) If the notice under subsection (6) of this section is
served by mail pursuant to subsection (7)(b) of this section, the
minimum period for compliance must be extended by three days and
the notice must include the extension in the period stated in the
notice.
(9)(a) Notwithstanding the provisions of subsection (6)(c) of
this section and except as provided in paragraph (b) of this
Enrolled House Bill 2929 (HB 2929-B) Page 13
subsection, the purchaser is not a landlord subject to the
provisions of ORS chapter 90 unless the purchaser:
(A) Accepts rent from the individual who possesses the property
under a tenancy described in subsection (6)(c) of this section;
(B) Enters into a new rental agreement with the individual who
possesses the property under a tenancy described in subsection
(6)(c) of this section; or
(C) Fails to terminate the tenancy as provided in subsection
(6)(c) of this section within 30 days after the date of the sale.
(b) The purchaser may act as a landlord for purposes of
terminating a tenancy in accordance with the provisions of ORS
90.396.
(c) The purchaser is subject to the provisions of ORS 90.322,
90.375, 105.165, 659A.421 and 659A.425. The application of ORS
90.375 to a purchaser that does not become a landlord does not
impose an affirmative duty to pay for or provide services. For
the purpose of damages pursuant to this paragraph, 'rent' refers
to the amount { - paid by - } the tenant { + pays + } to the
landlord for the right to occupy the unit before the foreclosure.
(10)(a) Except as provided in paragraph (b) of this subsection,
the purchaser is not liable to the individual who possesses the
property under a tenancy described in subsection (6)(c) of this
section for:
(A) Damage to the property or diminution in rental value; or
(B) Returning a security deposit.
(b) A purchaser that is a landlord under the provisions of
subsection (9)(a) of this section is liable to the individual who
possesses the property under a tenancy described in subsection
(6)(c) of this section for:
(A) Damage to the property or diminution in rental value that
occurs after the date of the trustee's sale; or
(B) Returning a security deposit the individual pays after the
date of the trustee's sale.
(11)(a) Except as provided in paragraph (b) of this subsection
and notwithstanding an agreement to the contrary, in an action or
defense arising pursuant to subsection (6)(c), (d), (f) or (g),
(7) or (9)(c) of this section, reasonable attorney fees at trial
and on appeal may be awarded to the prevailing party together
with costs and disbursements.
(b) If a tenant asserts a successful defense to an action for
possession pursuant to subsection (6)(c), (d), (f) or (g) of this
section, the tenant is not entitled to prevailing party fees,
attorney fees or costs and disbursements if the purchaser:
(A) Did not know, and did not have reasonable cause to know, of
the existence of a fixed term tenancy when commencing the action
for possession; and
(B) Promptly dismissed the action upon becoming aware of the
existence of a fixed term tenancy.
(c) As used in this subsection, 'prevailing party' means the
party in whose favor final judgment is rendered.
(12)(a) Notwithstanding subsection (2) of this section, except
when a beneficiary has participated in obtaining a stay,
foreclosure proceedings that are stayed by order of the court, by
proceedings in bankruptcy or for any other lawful reason shall,
after release from the stay, continue as if uninterrupted, if
within 30 days after release the trustee sends amended notice of
sale by registered or certified mail to the last-known address of
the persons listed in ORS 86.740 and 86.750 (1).
(b) In addition to the notice required under paragraph (a) of
this subsection, the trustee shall send amended notice of sale:
Enrolled House Bill 2929 (HB 2929-B) Page 14
(A) By registered or certified mail to:
(i) The address provided by each person who was present at the
time and place set for the sale that was stayed; and
(ii) The address provided by each member of the Oregon State
Bar who by registered or certified mail requests the amended
notice of sale and includes with the request the notice of
default or an identification number for the trustee's sale that
would assist the trustee in identifying the property subject to
the trustee's sale and a self-addressed, stamped envelope
measuring at least 8.5 by 11 inches in size; or
(B) By posting a true copy or a link to a true copy of the
amended notice of sale on the trustee's Internet website.
(13) The amended notice of sale must:
(a) Be given at least 20 days before the amended date of sale;
(b) Set an amended date of sale that may be the same as the
original sale date, or date to which the sale was postponed,
provided the requirements of this subsection and ORS 86.740 and
86.750 are satisfied;
(c) Specify the time and place for sale;
(d) Conform to the requirements of ORS 86.745; and
(e) State that the original sale proceedings were stayed and
the date the stay terminated.
(14) If the publication of the notice of sale was not completed
before the date the foreclosure proceedings were stayed by order
of the court, by proceedings in bankruptcy or for any other
lawful reason, after release from the stay, in addition to
complying with the provisions of subsections (12) and (13) of
this section, the trustee shall complete the publication by
publishing an amended notice of sale that states that the notice
has been amended following release from the stay and that
contains the amended date of sale. The amended notice must 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, except that the required number of publications
must be reduced by the number of publications that were completed
before the effective date of the stay. The last publication must
be made more than 20 days before the date the trustee conducts
the sale.
SECTION 3. ORS 86.790 is amended to read:
86.790. (1) The trustee of a trust deed under ORS 86.705 to
86.795 { - shall not be - } { + :
(a) Is not + } required to comply with the provisions of ORS
chapters 707 and 709 { + . + }
{ + (b) + } { - and shall - } { + Must + } be:
{ - (a) - } { + (A) + } { - Any - } { + An + } attorney
who is an active member of the Oregon State Bar;
{ - (b) - } { + (B) + } A financial institution or trust
company, as defined in ORS 706.008, that is authorized to do
business under the laws of Oregon or the United States;
{ - (c) - } { + (C) + } A title insurance company { + or a
subsidiary, affiliate, insurance producer or branch of the title
insurance company that is + } authorized to insure title to real
property in this state { - , its subsidiaries, affiliates,
insurance producers or branches - } ;
{ - (d) - } { + (D) + } The United States or any agency
{ - thereof - } { + of the United States + }; or
{ - (e) - } { + (E) An + } escrow { - agents - } { +
agent who is + } licensed under ORS 696.505 to 696.590.
{ + (c) Shall obtain from the Secretary of State a
certificate of authority to transact business in this state as a
Enrolled House Bill 2929 (HB 2929-B) Page 15
foreign business entity, if the trustee is a person described in
paragraph (b)(B) or (C) of this subsection, unless the trustee
has registered with or obtained a certificate of authority from
the Director of the Department of Consumer and Business
Services. + }
(2) An attorney who is a trustee under subsection
{ - (1)(a) - } { + (1)(b)(A) + } of this section may represent
the beneficiary in addition to performing the duties of trustee.
(3) At any time after the trust deed is executed, the
beneficiary may appoint in writing another qualified trustee. If
the appointment of the successor trustee is recorded in the
mortgage records of the county or counties in which the trust
deed is recorded, the successor trustee { - shall be vested
with all - } { + has + } the powers of the original trustee.
(4) A trustee or successor trustee is a necessary and proper
party to any proceeding to determine the validity of or enjoin
any private or judicial proceeding to foreclose a trust deed, but
a trustee or successor trustee is neither a necessary nor a
proper party to any proceeding to determine title to the property
subject to the trust deed, or to any proceeding to impose,
enforce or foreclose any other lien on the subject property.
(5) { - Nothing in - } { + The provisions of + } ORS 86.705
to 86.795
{ - imposes - } { + do not impose + } a duty on the trustee
or successor trustee to notify any person of any proceeding with
respect to { - such - } { + the + } person, except a
proceeding { - initiated by - } { + that + } the trustee or
successor trustee { + initiates + }.
(6) A trustee or the attorney for the trustee or any agent
{ - designated by - } { + that + } the trustee or the
attorney { + designates + } may announce and accept a bid from
the beneficiary whether or not the beneficiary is present at the
sale.
(7) The trustee or successor trustee { - shall have no - }
{ + does not have a + } fiduciary duty or fiduciary obligation
to the grantor or other persons { + that have + }
{ - having - } an interest in the property subject to the trust
deed. The trustee or successor trustee { - shall not be - }
{ + is not + } relieved of the duty to reconvey the property
subject to the trust deed to the grantor { - upon request for
reconveyance by - } { + when + } the beneficiary { + requests
a reconveyance + }.
SECTION 4. ORS 86.705, as amended by section 5, chapter 112,
Oregon Laws 2012, is amended to read:
86.705. As used in ORS 86.705 to 86.795:
(1) 'Affordable housing covenant' has the meaning given that
term in ORS 456.270.
(2) 'Beneficiary' means a person named or otherwise designated
in a trust deed as the person for whose benefit a trust deed is
given, or the person's successor in interest, and who is not the
trustee unless the beneficiary is qualified to be a trustee under
ORS 86.790 { - (1)(d) - } { + (1)(b)(D) + }.
(3) 'Eligible covenant holder' has the meaning given that term
in ORS 456.270.
(4) 'Grantor' means the person that conveys an interest in real
property by a trust deed as security for the performance of an
obligation.
(5) 'Residential trust deed' means a trust deed on property
upon which are situated four or fewer residential units, one of
which the grantor, the grantor's spouse or the grantor's minor or
Enrolled House Bill 2929 (HB 2929-B) Page 16
dependent child occupies as a principal residence at the time a
default that results in an action to foreclose the obligation
secured by the trust deed first occurs.
(6) 'Residential unit' means an improvement designed for
residential use.
(7) 'Trust deed' means a deed executed in conformity with ORS
86.705 to 86.795 that conveys an interest in real property to a
trustee in trust to secure the performance of an obligation the
grantor or other person named in the deed owes to a beneficiary.
(8) 'Trustee' means a person, other than the beneficiary, to
whom a trust deed conveys an interest in real property, or the
person's successor in interest, or an employee of the
beneficiary, if the employee is qualified to be a trustee under
ORS 86.790.
SECTION 5. { + The amendments to ORS 86.705, 86.755 and 86.790
by sections 1 to 4 of this 2013 Act apply to trustee's sales that
occur on or after the effective date of this 2013 Act. + }
SECTION 6. { + If House Bill 2569 becomes law, section 3 of
this 2013 Act (amending ORS 86.790) is repealed and ORS 86.790,
as amended by section 2, chapter 125, Oregon Laws 2013 (Enrolled
House Bill 2569), is amended to read: + }
86.790. (1) The trustee of a trust deed under ORS 86.705 to
86.795 { + :
(a) + } Is not required to comply with the provisions of ORS
chapters 707 and 709 { - and - } { + .
(b) + } Must be:
{ - (a) - } { + (A) + } An attorney who is an active member
of the Oregon State Bar or a law practice that includes an
attorney who is an active member of the Oregon State Bar;
{ - (b) - } { + (B) + } A financial institution or trust
company, as defined in ORS 706.008, that is authorized to do
business under the laws of Oregon or the United States;
{ - (c) - } { + (C) + } A title insurance company { + or a
subsidiary, affiliate, insurance producer or branch of the title
insurance company that is + } authorized to insure title to real
property in this state { - and the subsidiaries, affiliates,
insurance producers or branches of the title insurance
company - } ;
{ - (d) - } { + (D) + } The United States or any agency of
the United States; or
{ - (e) - } { + (E) + } An escrow agent that is licensed
under ORS 696.505 to 696.590.
{ + (c) Shall obtain from the Secretary of State a
certificate of authority to transact business in this state as a
foreign business entity, if the trustee is a person described in
paragraph (b)(B) or (C) of this subsection, unless the trustee
has registered with or obtained a certificate of authority from
the Director of the Department of Consumer and Business
Services. + }
(2) A law practice that, or an attorney who, is a trustee under
subsection { - (1)(a) - } { + (1)(b)(A) + } of this section
may represent the beneficiary in addition to performing the
duties of trustee.
(3) At any time after a trust deed is executed, the beneficiary
may appoint in writing another qualified trustee. If the
appointment of the successor trustee is recorded in the mortgage
records of the county or counties in which the trust deed is
recorded, the successor trustee { - is vested with all - }
{ + has + } the powers of the original trustee.
Enrolled House Bill 2929 (HB 2929-B) Page 17
(4) A trustee or successor trustee is a necessary and proper
party to any proceeding to determine the validity of a trust
deed, or to enjoin any private or judicial proceeding to
foreclose a trust deed, but a trustee or successor trustee is not
a necessary or proper party to any proceeding to determine title
to the property subject to the trust deed, or to any proceeding
to impose, enforce or foreclose any other lien on the subject
property.
(5) { - Nothing in - } { + The provisions of + } ORS 86.705
to 86.795
{ - imposes - } { + do not impose + } a duty on the trustee
or successor trustee to notify any person of any proceeding with
respect to the person, except a proceeding that the trustee or
successor trustee initiates.
(6) A trustee or the attorney for the trustee or any agent
{ + that + } the trustee or the attorney designates may
announce and accept a bid from the beneficiary whether or not the
beneficiary is present at the sale.
(7) The trustee or successor trustee { - has no - }
{ + does not have a + } fiduciary duty or fiduciary obligation
to the grantor or other persons that have an interest in the
property subject to the trust deed. The trustee or successor
trustee { - may not be - } { + is not + } relieved of the
duty to reconvey the property that is subject to the trust deed
to the grantor { - upon the beneficiary's request for - }
{ + when the beneficiary requests a + } reconveyance.
(8) If a law practice is the trustee under subsection
{ - (1)(a) - } { + (1)(b)(A) + } of this section, an attorney
who is an active member of the Oregon State Bar and is a
shareholder, partner, member or employee of the law practice
shall sign on the trustee's behalf any document that is permitted
or required to be signed under ORS 86.705 to 86.795. The attorney
who signs the document shall make evident in the document the
attorney's name and Oregon State Bar number and shall state in
the document that the trustee has authorized the attorney to sign
the document on the trustee's behalf.
(9) If an attorney is the trustee under subsection
{ - (1)(a) - } { + (1)(b)(A) + } of this section, another
attorney who is an active member of the Oregon State Bar and is a
shareholder, partner, member or employee of the law practice in
which the attorney practices law may sign on the trustee's behalf
any document that is permitted or required to be signed under ORS
86.705 to 86.795. The attorney who signs the document shall make
evident in the document the attorney's name and Oregon State Bar
number and shall state in the document that the trustee has
authorized the attorney to sign the document on the trustee's
behalf.
SECTION 7. If House Bill 2569 becomes law, section 5 of this
2013 Act is amended to read:
{ + Sec. 5. + } The amendments to ORS 86.705, 86.755 and
86.790 by sections 1 { - to 4 - } { + , 2, 4 and 6 + } of this
2013 Act apply to trustee's sales that occur on or after the
effective date of this 2013 Act.
----------
Enrolled House Bill 2929 (HB 2929-B) Page 18
Passed by House April 16, 2013
Repassed by House June 13, 2013
.............................................................
Ramona J. Line, Chief Clerk of House
.............................................................
Tina Kotek, Speaker of House
Passed by Senate June 11, 2013
.............................................................
Peter Courtney, President of Senate
Enrolled House Bill 2929 (HB 2929-B) Page 19
Received by Governor:
......M.,............., 2013
Approved:
......M.,............., 2013
.............................................................
John Kitzhaber, Governor
Filed in Office of Secretary of State:
......M.,............., 2013
.............................................................
Kate Brown, Secretary of State
Enrolled House Bill 2929 (HB 2929-B) Page 20
