Oregon recently passed a bill sponsored by Senator Johnson at the request of Oregon Public Property Managers Association amending recording requirements for instruments assigning a mortgage or trust deed. Stated in the amended law, the first page of an instrument assigning a mortgage or trust deed shall contain the name and address of the assignee lender or assignee trust deed beneficiary.
If an instrument presented for recording does not contain the information required, 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. The bill affects instruments that are presented for recording on or after January 1, 2008
(Reprinted with permission from RichmondMonroe Group)
Oregon recently passed a bill sponsored by Senator Johnson at the request of Oregon Public Property Managers Association amending recording requirements for instruments assigning a mortgage or trust deed. Stated in the amended law, the first page of an instrument assigning a mortgage or trust deed shall contain the name and address of the assignee lender or assignee trust deed beneficiary.
