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Notice of Default for Past Due Payments in connection with Contract for Deed - Oregon

Notice of Default for Past Due Payments in connection with Contract for Deed - Oregon 2026

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This document is a Notice of Default informing the purchaser of a property under a Contract for Deed that they have failed to make timely payments. It states that the seller has the right to terminate the contract if the default is not cured by a specified date, detailing the amounts due and potential consequences, including loss of payments made and eviction.

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How to use or fill out Notice of Default for Past Due Payments in connection with Contract for Deed - Oregon

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the recipient's name and address at the top of the form. This identifies who is receiving the notice.
In the section regarding the seller and purchaser, enter their respective names clearly. This establishes the parties involved in the contract.
Specify the property address related to the contract for deed. Accurate details are crucial for legal clarity.
Indicate the specific amounts due under past payments and late fees. Ensure these figures are correct to avoid disputes.
Complete any additional fields as required, including dates and signatures, ensuring all necessary information is provided before finalizing.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the Oregon trust deed Act?

The Oregon Trust Deed Act was established in 1959 to make the foreclosure process easier and faster by not involving the courts. The Act allows the lender to file a trust deed, which assigns the deed to a third-party (trustee).

What does the Oregon trust deed Act do?

The key disadvantages of placing a house in a trust include the following: Extra paperwork: Moving property in a trust requires the house owner to transfer the assets legal title. This involves preparing and signing an additional deed, and some people may consider this cumbersome.

What is a notice of default on a home?

A Notice of Default (NOD) is a formal document recorded by your lender with the local County Recorders office in the county where your property is located, indicating that you have fallen behind on your mortgage payments. It serves as the first official step in the non-judicial foreclosure process.

What is a deed in lieu of foreclosure in Oregon?

With the deed in lieu of foreclosure, the homeowner voluntarily transfers ownership of the property to the servicer in full satisfaction of the total amount due. The servicer may require the homeowner to list and market the property before they agree to a deed-in-lieu arrangement.

Why use a deed of trust instead of a mortgage?

Like a mortgage, a trust deed makes a piece of real property security (collateral) for a loan. If the loan is not repaid on time, the lender can foreclose on and sell the property and use the proceeds to pay off the loan. A trust deed is not used to transfer property to a living trust (use a Grant Deed for that).

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Is a trust deed a voluntary lien in Oregon?

Virtually all voluntary liens secured by Oregon real estate are trust deeds and are therefore governed by the Oregon Trust Deed Act, ORS 86.705 86.795, which has been in existence since 1959.

What is the disadvantage of a trust deed?

Under a deed of trust, if the borrower is in default, the property can be sold by the trustee without going through a costly, lengthy legal procedure. The process is known as a nonjudicial foreclosure.

Notice of Default for Past Due Payments in connection with Contract for Deed - Oregon 2026

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