ORS 88.120
When foreclosure not barred by ORS 88.110

(1)

Foreclosure of a mortgage on real property is not barred by ORS 88.110 (Duration of real property mortgage lien) when the mortgage is held of record by the State of Oregon or when all the following facts exist at the time the foreclosure suit is commenced:

(a)

Any portion of the mortgage debt, or any interest thereon, has been voluntarily paid within the 10 years immediately preceding commencement of the suit.

(b)

The original mortgagor still owns the mortgaged property.

(c)

No lien or right of a third person has attached to the property after the expiration of the 10-year period referred to in ORS 88.110 (Duration of real property mortgage lien).

(2)

A mortgage that is not enforceable by the transferor at the time of transfer to the State of Oregon does not become enforceable thereafter under this section. [Amended by 1997 c.298 §1]

Source: Section 88.120 — When foreclosure not barred by ORS 88.110, https://www.­oregonlegislature.­gov/bills_laws/ors/ors088.­html.

Notes of Decisions

Use of equitable conversion doctrine to determine ownership under this section is inappropriate. Security State Bank v. Leubke, 303 Or 418, 737 P2d 586 (1987)

Purchaser of foreclosed property at sheriff’s sale, where certificate of sale but not sheriff’s deed had been recorded, was third person with right that had attached to property, making exception in this section inapplicable. Lincoln Loan Co. v. Estate of George Geppert, 310 Or App 839, 489 P3d 1095 (2021)

Green check means up to date. Up to date

Current through early 2024

§ 88.120’s source at oregon​.gov