ORS 112.590
Protection of bona fide purchasers
- personal liability of recipient
(1)
Unless the person has notice of the claim at the time the purchase, payment or delivery is made, a person who purchases property for value, or who receives payment, property or other benefit in full or partial satisfaction of a legally enforceable obligation, is not liable to another person with a claim to the payment, property or benefit by reason of the operation of the survivorship rules established under ORS 112.570 (Definitions for ORS 112.570 to 112.590) to 112.590 (Protection of bona fide purchasers) and need not return the payment, property or other benefit.(2)
A person who receives payment, property, or other benefit to which the person is not entitled by reason of the survivorship rules established under ORS 112.570 (Definitions for ORS 112.570 to 112.590) to 112.590 (Protection of bona fide purchasers) must return the payment, property or other benefit if:(a)
The person was aware of a claim to the payment, property or other benefit under the survivorship rules established under ORS 112.570 (Definitions for ORS 112.570 to 112.590) to 112.590 (Protection of bona fide purchasers) at the time the purchase, payment or delivery was made; or(b)
The person received the payment, property or other benefit for no value.(3)
A person who receives any payment, property or other benefit to which the person is not entitled because any part of ORS 112.570 (Definitions for ORS 112.570 to 112.590) to 112.590 (Protection of bona fide purchasers) is preempted by federal law must return the payment, property or other benefit if the person received the payment, property or other benefit for no value.(4)
Any person who is required to return any payment, property or other benefit under this section and who does not return the payment, property or other benefit is personally liable to a person with a right to the property under the survivorship rules established under ORS 112.570 (Definitions for ORS 112.570 to 112.590) to 112.590 (Protection of bona fide purchasers) or with a right to the property by reason of federal preemption of all or part of the survivorship rules. [1999 c.131 §8]
Source:
Section 112.590 — Protection of bona fide purchasers; personal liability of recipient, https://www.oregonlegislature.gov/bills_laws/ors/ors112.html.
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