OAR 813-005-0060
Transfer of Recipient, Assistance or Ownership; Subordinate Liens; Encumbrances

(1)

A recipient of any department assistance or owner of a project for which such assistance is provided may not transfer or allow any transfer of any interest in itself, the assistance or the project, allow a subordinate lien or otherwise encumber the project, or any portion or interest therein, unless the department first approves the transfer, subordinate lien or encumbrance in writing. Any such transfer is subject to the payment to the department of a transfer or other approval charge as required by the department. If the recipient effects or allows a transfer, subordinate lien or encumbrance without prior written approval by the department, the transfer, subordinate lien or encumbrance is voidable and remains subject to the approval or disapproval of the department and the recipient or owner responsible for allowing the transfer, subordinate lien or encumbrance and any transferees, jointly and severally, are subject to a charge by the department with respect to its review and treatment of any such event.

(2)

The department may condition its approval upon such terms and conditions as it, in its sole discretion, may require. Factors the department may consider in determining whether or not to give approval to a transfer, subordinate lien or encumbrance include, but are not limited to:

(a)

The financial investment of the department in the project;

(b)

Preservation of existing housing;

(c)

The transferee’s ability to maintain and manage the project for the needs of the residents, the integrity of the housing and as security for the assistance;

(d)

The effect of the transfer, subordinate lien or encumbrance upon the financial integrity of the project, repayment of the assistance, use of the project for its intended purposes, and continuity of the program requirements; and

(e)

Continued compliance with program requirements.

Source: Rule 813-005-0060 — Transfer of Recipient, Assistance or Ownership; Subordinate Liens; Encumbrances, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=813-005-0060 (accessed May 26, 2025).

May 26, 2025

Rule 813-005-0060's source at or​.us