Judgments

ORS 18.965
Notice to seller before end of redemption period


(1)

If a person purchases residential real property after a complaint has been filed to foreclose a lien on the real property and before the end of the redemption period provided under ORS 18.964 (Time for redemption), the purchaser shall provide the following notice in clear and conspicuous type, 14-point or larger, to the seller before purchasing the real property:

WARNING: You should be careful about this kind of transfer of property. Make sure you understand the documents that you sign. You may still own interests in this property. If you sign the deed to transfer this property, you may be giving up all of your interests in this property, such as redemption rights and rights to “surplus funds.” “Surplus funds” are any extra money if the property is sold at the sheriff’s execution sale for more than what is owed on the property. If you have questions, talk to a lawyer before signing.

(2)

At or before the time of recording the deed transferring the real property purchased after a complaint has been filed to foreclose a lien on the real property and before the end of the redemption period provided under ORS 18.964 (Time for redemption), the purchaser shall file for recording in the official record of the county or counties in which the property described in the deed is situated an affidavit stating that the person complied with the notice requirement under subsection (1) of this section. The affidavit may be affixed to the deed transferring the real property. [2019 c.309 §2]
§§ 18.960 to 18.985

Notes of Decisions

Under Former Similar Statutes (Ors 18.565 to 18.598)

Redemption statutes are remedial and are to be liberally construed. Silbernagel v. Goin, 31 Or App 545, 570 P2d 1011 (1977), Sup Ct review denied

Law Review Citations

Under Former Similar Statutes (Ors 18.565 to 18.598)

67 OLR 287 (1988)

Chapter 18

Notes of Decisions

If terms used by trial court suffice to convey court's concluding decision or decisions, and if terms are set forth in document properly titled as judgment, then judgment document contains judgment. Interstate Roofing, Inc. v. Springfield Corp., 347 Or 144, 218 P3d 113 (2009)


Source

Last accessed
Jun. 26, 2021