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)