Oregon Statutes - Chapter 93 - Conveyancing and Recording - Section 93.190 - Trustees or personal representatives as joint tenants; filling vacancies in office.

(1) Every conveyance, deed of trust, mortgage or devise of an interest in or lien upon real or personal property to two or more persons as trustees or personal representatives, creates a joint tenancy in such interest or lien in the trustees or personal representatives unless it is expressly declared in the conveyance, deed of trust, mortgage or devise that the trustees or personal representatives shall take or hold the property as tenants in common or otherwise.

(2) If the conveyance, deed of trust, mortgage or devise provides for filling any vacancy in the office of trustee or personal representative, it may be filled as therein provided, but a court of competent jurisdiction may fill a vacancy in the trusteeship according to the established rules and principles of equity. In whichever way the vacancy is filled, the new trustee shall hold the property with all powers, rights and duties of an original trustee unless otherwise directed by conveyance, deed of trust, mortgage or devise, or order or judgment of the court. [Amended by 1969 c.591 §275; 2003 c.576 §353]

Section:  Previous  93.125  93.130  93.140  93.150  93.160  93.170  93.180  93.190  93.200  93.210  93.220  93.230  93.240  93.250  93.260  Next

Last modified: August 7, 2008