The court shall, in the order of sale, direct the terms of credit which may be allowed for the purchase money of any portion of the premises which it may direct to be sold on credit; and for that portion of which the purchase money is required by ORS 105.370 to be invested for the benefit of unknown owners, infants or parties out of the state. The referees may take separate mortgages and other securities for the whole or convenient portions of the purchase money of such parts of the property as are directed by the court to be sold on credit, in the name of the clerk of the court and the clerk’s successor in office. When there is a known owner of full age, the security for the share of the owner shall be executed in the name of the owner.
Section: Previous 105.270 105.275 105.280 105.285 105.290 105.295 105.300 105.305 105.310 105.315 105.320 105.325 105.330 105.335 105.340 NextLast modified: August 7, 2008