Confirmation of sale of real property
(1) A sale of real property in an execution sale is conclusively established to have been conducted in the manner required by ORS 18.860 (Function of writ) to 18.993 (Effect of ORS 18.860 to 18.993 on court’s ability to direct seizure) unless the judgment debtor or another person adversely affected by the sale files an objection to the sale no later than 10 days after the filing of the sheriff’s return under ORS 18.872 (Return on writ of execution).
(2) If an objection to a sale is filed, the court shall schedule a hearing on the objection. The court shall grant an order confirming the sale unless the person objecting to the sale establishes that the sale was not conducted in a manner that substantially conformed with the manner required by law, and that as a result it was probable that the person suffered damage. An order confirming a sale under this subsection conclusively establishes that the sale was conducted in the manner required by ORS 18.860 (Function of writ) to 18.993 (Effect of ORS 18.860 to 18.993 on court’s ability to direct seizure). If the court sustains the objection, the court shall direct that the property be resold. Notwithstanding any other provision of ORS 18.860 (Function of writ) to 18.993 (Effect of ORS 18.860 to 18.993 on court’s ability to direct seizure), the court may establish timelines for the conduct of the second sale and the return by the sheriff upon completion of the second sale.
(3) If the court orders that real property be resold under this section, the sheriff may not accept any bid in the second sale that is less than the amount paid in the first sale. If no higher bid is received in the second sale, the sheriff shall so indicate in the sheriff’s return to the court. If a higher bid is received at the second sale, upon receipt of the proceeds the court administrator shall return to the first purchaser the amounts paid by the purchaser. If the original purchaser makes the highest bid in the second sale, the purchaser need pay to the sheriff only the difference between the bid in the second sale and the amounts already paid by the purchaser. [2005 c.542 §34]
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