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Other Real Estate Owned (OREO)
National banks may hold other real estate owned under certain circumstances for prescribed periods. Real property becomes other real estate owned through a variety of circumstances; for example, as conveyance in satisfaction of debts previously contracted or the relocation of banking premises.
Other Real Estate Owned (Section 219) (Comptroller’s Handbook, September 2013)
Part 34: Real Estate Lending, Appraisals—Final Rule Subpart E—OREO (OCC 1996-22, April 1996), Final Rule (Federal Register, March 20, 1996)
Accounting for Dispositions of Other Real Estate Owned (BB 1993-42, July 1993), Interagency Guidance