Transfer title of an Oregon real estate property from a seller to a trustee with this Oregon Deed of Trust form.
- A Deed of Trust is often used instead of a mortgage for purchasing real property except for agricultural farm land.
- Under the Deed of Trust, title is conveyed by the seller to a trustee instead of to the purchaser. The trustee holds the title as security to ensure the purchaser's performance of its obligations (including payment of the purchase price, maintenance and upkeep of the property, payment of taxes, etc).
- If the borrower defaults in payment, the balance becomes due and payable and the trustee may sell the property.
- The Deed of Trust contains uniform covenants regarding payments, funds for taxes and insurance, prior mortgages, hazard insurance, occupancy as principal residence, care and maintenance of the property, protection of the lender's security, and other standard clauses.
- Attorney's fees payable by a party under the Trust Deed shall include those awarded by an appellate court.
- The Deed secures any advances made by the lender to protect its interest in the property and rights under the Deed.
This Oregon Deed of Trust
form is provided in MS Word format, and is fully editable to meet your needs.