Mortgages
Definitions for ORS 86.705 to 86.815
Notes of Decisions
"Beneficiary" of trust deed is person named or otherwise designated in trust deed as person to whom secured obligation is owed. Niday v. GMAC Mortgage, LLC, 251 Or App 278, 284 P3d 1157 (2012), aff'd on other grounds, 353 Or 648, 302 P3d 444 (2013)
Obligation of trust deed is payment of note. Reeves v. ReconTrust Company, N.A., 846 F. Supp. 2d 1149 (D. Or. 2012)
Under this section, "beneficiary" is lender to whom obligation that trust deed secures is owed or lender's successor in interest; an entity that is not a lender may not be trust deed's "beneficiary" unless it is lender's successor in interest. Niday v. GMAC Mortgage, LLC, 353 Or 648, 302 P3d 444 (2013); Brandrup v. ReconTrust Co., 353 Or 668, 303 P3d 301 (2013)
Law Review Citations
49 WLR 77 (2012)
Notes of Decisions
For purposes of Oregon Trust Deed Act, beneficiary of trust deed is person named or otherwise designated in trust deed as person to whom secured obligation is owed. Niday v. GMAC Mortgage, LLC, 251 Or App 278, 284 P3d 1157 (2012), aff'd on other grounds, 353 Or 648, 302 P3d 444 (2013)
Statutes regulating trust deeds do not regulate transfers of promissory notes. Sovereign v. Deutsche Bank, 856 F. Supp. 2d 1203 (D. Or. 2012)
Statutes regulating trust deeds are not preempted by federal Home Owner's Loan Act. Higley v. Flagstar Bank, FSB, 910 F. Supp. 2d 1249 (D. Or. 2012)
For purposes of Oregon Trust Deed Act, "beneficiary" is lender to whom obligation that trust deed secures is owed or lender's successor in interest; an entity that is not a lender may not be trust deed's "beneficiary" unless it is lender's successor in interest. Niday v. GMAC Mortgage, LLC, 353 Or 648, 302 P3d 444 (2013); Brandrup v. ReconTrust Co., 353 Or 668, 303 P3d 301 (2013)
For purposes of Oregon Trust Deed Act, only pertinent interests in trust deed are beneficial interest of beneficiary and legal interest of trustee. Brandrup v. ReconTrust Co., 353 Or 668, 303 P3d 301 (2013)
Law Review Citations
23 WLR 37, 55 (1987); 67 OLR 306 (1988); 69 OLR 851 (1990)