Alternate redemption procedure
- • cash payment required
(1) Notwithstanding ORS 223.565 (Procedure and conditions of redemption) and 223.650 (Redemption), when a local government sells real property under ORS 223.510 (Authority to sell property for delinquent liens and assessments) to 223.590 (Tender of purchase price in action to recover property) or pursuant to a judgment of foreclosure entered in an action authorized by ORS 223.610 (Foreclosure of certain liens by suits in equity) for neglect or refusal by the owner to pay installments under ORS 223.265 (Payment of installments), the property may be redeemed as provided in this section by the owner, a legal representative or a successor in interest or by any other person having a lien on the property.
(2) Redemption of such real property may be made by paying to the treasurer of the local government, at any time within one year after the date of sale, the following amounts:
(a) The purchase price at the foreclosure sale and 10 percent thereof as penalty;
(b) The amount of any taxes, assessments or liens upon the property that are paid after the sale by the purchaser at the sale; and
(c) Interest on the amounts paid under paragraphs (a) and (b) of this subsection at a rate of 10 percent per annum from the respective times of the payments of the purchase price, taxes, assessments or liens to the date of redemption.
(3) A redemption of property under this section shall be made for cash. [Formerly 223.670; 2003 c.576 §398; 2003 c.802 §44]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.