THE DAILY TRANSCRIPT, LLC

5674 Liberty Ave.

Klamath Falls, OR 97603
541-885-6050 - dailytrans@charter.net

USERS GUIDE

This is a guide to help you read The Daily Transcript, including some of the terms & abbreviations used.

THE DATE OF THE TRANSCRIPT is the date that the documents were recorded at the County.

REAL ESTATE INFORMATION:

A DEED conveys title to real property.
Addresses are not usually on the Deed. If no amount is given, we list it as: None given or Not given.
John Doe and his wife sell their property to Mary Smith. We list this as:
John Doe, et ux to Mary Smith

A TRUST DEED creates an encumbrance in favor of the lender for funds loaned against the property.
(Short explanation: This is to secure money borrowed against the property or borrowed to finance the property.)
The Borrower gives a Trust Deed to the Lender.
If there is no address for the property on the Trust Deed, we may list the address of the Borrower or Lender as a
contact address.
Mary Smith finances the property (located at 1234 Main St,) though ABC Bank. We list this as:
Mary Smith to ABC Bank (1234 Main St., Klamath Falls, OR 97601)

A MODIFICATION may be made to the Trust Deed, usually to change the Due Date, amount of the loan, or
the rate. The Book & Page of the original Trust Deed is given, along with the date of this modification.
If previous Modifications have been made, they are also listed.

SUBORDINATION AGREEMENT or SUBORDINATION OF DEED OF TRUST
A lender with an existing lien (loan) agrees to make their lien subordinate (or second in line) to a new
lenders loan. This may be required by the new lender as a condition of granting the loan. If the old loan and the
new loan are granted by the same lender, the old lien must still become subordinate to the new loan. The
Trust Deed that is being subordinated is listed along with the date of the subordination.

NOTICE OF DEFAULT AND ELECTION TO SELL
This Is the NOTICE OF FORECLOSURE recorded at the county:
Both the beneficiary and the trustee have elected to sell the property to satisfy the obligations secured by the
trust deed and to foreclose the trust deed by advertisement and sale. The default for which the foreclosure is
made is grantors failure to pay the sums owed when due. Example:
ABC Trustee Services is giving notice of foreclosure, regarding a loan taken out by (executed by)
Mary Smith. The loan was recorded as Trust Deed M96-12345. We list this Notice as:
By ABC Trustee Services, Inc., Trustee, re: T.D. M96-1234, executed by Mary Smith

At this point, the foreclosure date is about 5 months away. The Trustee then goes through the process of the
foreclosure, including publishing the notice and notifying anyone who has an interest in the property, including
anyone who has liens against it. The person who is in default also has time to "cure" the default, by paying the
money owed at that point, (including all late charges, fees, etc.)
If they are able to cure the default, it would be listed as a RESCISSION OF NOTICE OF DEFAULT.
Note: Sometimes a Default can be Cured and is Rescinded, but then another Foreclosure is filed immediately
afterwards for the next payments which were due, but not paid.

TRUSTEES NOTICE OF SALE WITH AFFIDAVITS
As the foreclosure is eminent, the Trustee records this notice, which includes affidavits of publication
(publication in the paper, etc.), affidavits of posting and mailing of notices of foreclosure, affidavit of non-
military service, etc all the required notices. Youll notice that the sale date is soon; sometimes they dont
record this until the day of the sale (or even after the sale).

TRUSTEES DEED
Following the sale of foreclosed property, a Trustees Deed conveys the property to the buyer.
On the transcript, we list the T.D. referring to the Trust Deed that was foreclosed upon.
ABC Trustee Services sold the foreclosed property to Jack Spratt. We list this as:
ABC Trustee Services, as Successor Trustee to Jack Spratt, re: T.D. M96-12345

DEED IN LIEU OF FORECLOSURE
This is when a borrower turns the deed over to the creditor, rather than go through the foreclosure process.
This is listed on the Transcript in the Deeds section with Amount listed as: LIEU/FCL.

The Book & Page (Example: M05-12345 or 2006-01234)
This is the Recording Number of the Document at the County.
The M number refers to the year (M05 is 2005); the next number is the Page number.
On 08-01-06, Klamath County converted to a new document numbering system for the Book & Page.
Beginning 08-01-06, Documents are recorded with the Year-Document Number (i.e. 2006-00001).

The Book & Page may be listed in the transcript for any of the following reasons:
1. The Legal Description is extremely long and/or complex
2. The Grantors or Grantees are complex
3. The Document itself is very complex

LEGAL DESCRIPTION OF THE PROPERTY
The Section, Township, Range; or Lot and Block are listed in columns.
PTN or ptn is our abbreviation for Portion.
Examples: LOT BLK
BUENA VISTA ADDITION Lots 1 & 2 in Block 6: 1,2 6
BUENA VISTA ADDITION All of Lot 1 & a Portion of Lot 2 1, ptn 2 6
BUENA VISTA ADDITION Portion of Lot 1 & Portion of Lot 2 ptn 1 & 2 6

RE-RECORDING OF DOCUMENTS:
Documents are usually Re-recorded to correct information or to add missing pages.
They can also be Re-recorded if the Trust Deed (Loan) is recorded before the Deed (the sale, or conveyance).
The proper order is to record the sale, then the loan.

OTHER ITEMS:

OREGON EMPLOYMENT DEPARTMENT FILING:
Against an individual: Usually, Benefit Overpayment, plus interest and fees.
Against a business: Employer Assessment, plus penalty, interest and fees.

NOTICE OF LIS PENDENS: Pendency of Legal Action; Legal Action is pending.

LIEN RECORD ABSTRACT: Abstract means this is the short version of the lien.

PROPERTY AFFECTED BY LIENS: Some Liens affect certain property of the debtor. Other Liens Affect
all real property of the debtor, now or hereafter acquired

DURABLE POWER OF ATTORNEY: Includes the verbiage: This Power of Attorney shall not be affected
by the subsequent disability or incompetence of the Grantor.


CIVIL COURT FILINGS:

FED: Forcible Entry and Detainer (Eviction)

Verses: (vs): The first party listed is the Plaintiff; the second party is the Defendant.

Petition for Restraining Order:
The first person listed is the one who applied for the order. Note: The orders are not always granted.

THE KEY, explains the Latin terms and other abbreviations used. It is located at the end of the transcript.

KEY: et ux: and wife et vir: and husband et al: and others
SEC: Section TWP: Township RGE: Range PTN (ptn): Portion
LP: Land Partition vs: Verses FED: Eviction. LIEU/FCL: In Lieu of Foreclosure
fbo: For Benefit of aka: Also Known As fka: Formerly Known As dba: Doing Business As
S/C Contract: Small Claims Contract
XREL: and other places (i.e. State of Oregon and the state of Nevada, California, etc.)