ORS 18.412
Notice of intent to discharge judgment lien against homestead

Text
Annotations 4

(1)

At any time after the date of execution of an agreement to transfer the ownership of property in which a homestead exemption exists pursuant to ORS 18.395 (Homestead exemption), the homestead owner or the owner’s transferee may give notice of intent to discharge the property from the judgment lien to a judgment creditor. Each notice shall bear the caption of the action in which the judgment was recovered and shall:

(a)

Identify the property and the judgment and state that the judgment debtor is about to transfer, or has transferred, the property and that the transfer is intended to discharge the property from any lien effect of the judgment;

(b)

State the fair market value of the property on the date of the notice or of any applicable petition in bankruptcy, whichever is applicable, and list the encumbrances against the property, including the nature and date of each encumbrance, the name of the encumbrancer and the amount presently secured by each encumbrance;

(c)

State that the property is claimed by the person giving the notice to be wholly exempt from the lien of the judgment or, if the value of the property exceeds the sum of the encumbrances specified as required under paragraph (b) of this subsection that are senior to the judgment lien and $40,000 or $50,000, whichever amount of the homestead exemption is applicable under ORS 18.395 (Homestead exemption) (1), that the amount of the excess or the amount due on the judgment, whichever is less, will be deposited with the court administrator for the court in which the judgment was entered for the use of the judgment holder; and

(d)

Advise the holder of the judgment that the property may be discharged from any lien arising from the judgment, without further notice to the judgment creditor, unless prior to a specified date, which in no case may be earlier than 14 days after the date of mailing of the notice, the judgment creditor files objections and a request for a hearing on the matter as provided in ORS 18.415 (Objections to discharge).

(2)

Each notice described by subsection (1) of this section shall be sent by certified mail to the judgment creditor, as shown by the court records, at the judgment creditor’s present or last-known address according to the best knowledge of the person sending the notice. A copy of each notice, together with proof of mailing, may be filed with the court administrator for the court in which the judgment was entered and shall be filed by the court administrator with the records and files of the action in which the judgment was recovered. [Formerly 23.280; 2005 c.456 §4; 2007 c.129 §9; 2009 c.612 §4]

Source: Section 18.412 — Notice of intent to discharge judgment lien against homestead, https://www.oregonlegislature.gov/bills_laws/ors/ors018.html.

Notes of Decisions

[Former] ORS 23.240 (4) (valuation of homestead property of debtor discharged in bankruptcy or which is sold by debtor) has no application to proceedings initiated under this section to discharge a judgment lien. Credit Service Co. v. Cameron, 41 Or App 57, 597 P2d 363 (1979)

Where real property was not homestead at time of plaintiffs’ petition for sale at execution or at time of defendants’ notice of intent to discharge property from plaintiffs’ judgment lien, defendants were not entitled to protections provided for homestead by this section or [former] ORS 23.445. Bourgeois v. Grenfell, 72 Or App 415, 695 P2d 974 (1985), Sup Ct review denied

Bankruptcy trustee’s determination that house has no value to bankruptcy estate is not judicial determination which prevents judgment creditor from contesting value of house in later proceeding under this section to discharge judgment lien. North Coast Electric v. Kenney’s Plumbing and Repair, 90 Or App 131, 750 P2d 1201 (1988), Sup Ct review denied

Law Review Citations

65 OLR 481, 483 (1986)

California:	Codes
Colorado:	C.R.S.
Nevada:	NRS
New York:	Laws
Oregon:	OAR, ORS
Texas:	Statutes
World:	Rome Statute, International Dictionary

ORS 18.412 Notice of intent to discharge judgment lien against homestead

(1)

(a)

(b)

(c)

(d)

(2)

Notes of Decisions

Law Review Citations

ORS 18.412
Notice of intent to discharge judgment lien against homestead