ORS 79A.6190 UCC 9-619. Transfer of record or legal title

As used in this section, “transfer statement” means a record signed by a secured party stating:

That the debtor has defaulted in connection with an obligation secured by specified collateral;

That the secured party has exercised its post-default remedies with respect to the collateral;

That, by reason of the exercise, a transferee has acquired the rights of the debtor in the collateral; and

The name and mailing address of the secured party, debtor and transferee.

A transfer statement entitles the transferee to the transfer of record of all rights of the debtor in the collateral specified in the statement in any official system for filing, recording or registration covering the collateral or in accordance with the provisions of ORS 79A.3110 (2), 446.611 or 446.626. If a transfer statement is presented with the applicable fee and request form to the official or office responsible for maintaining the system, the official or office shall:

Accept the transfer statement;

Promptly amend its records to reflect the transfer; and

If applicable, issue a new appropriate certificate of title in the name of the transferee.

A transfer of the record or legal title to collateral to a secured party under subsection (2) of this section or otherwise is not of itself a disposition of collateral under this chapter and does not of itself relieve the secured party of its duties under this chapter.