Oregon Administrative Rules
Chapter 274 - DEPARTMENT OF VETERANS' AFFAIRS
Division 45 - POST VIETNAM ERA VETERANS' HOME LOAN PROGRAM
Section 274-045-0100 - Evidence of Title
Universal Citation: OR Admin Rules 274-045-0100
Current through Register Vol. 63, No. 12, December 1, 2024
The veteran shall furnish at his or her expense an ALTA Mortgagee's Title Insurance policy for the amount of the loan, a title company lien search, or a certificate of title.
(1) The title policy, or other reports, shall show that the State has a first lien except in the case of:
(a) Property taxes not payable;
(b) A lien of a bonded irrigation or drainage
district, in which case all due assessments must be paid;
(c) A public improvement lien, bonded or
being collected by the County Tax Collector in which case all due assessments
must be paid;
(d) A lien for
Reclamation Service of the United States Government, in which case all due
assessments must be paid;
(e) An
ALTA Mortgagee's Title Insurance policy insuring the State against loss from
any prior encumbrance, but the encumbrance must be acceptable to the veteran
mortgagor.
(2) All water stock shall be endorsed to, and deposited with, the Director to be held by the State until its interest terminates.
Stat. Auth.: ORS 406
Stats. Implemented: ORS 407
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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