2015 ORS 311.473¹
Foreclosure sale of property to be removed from county
  • required notice by financial institution
  • recourse for failure to give notice

(1) Any financial institution, as defined in ORS 317.010 (Definitions), or agent or representative of a financial institution, that, in the process of foreclosing any security interest or other lien on taxable personal property, including property classified as real property machinery and equipment, or after the lien is foreclosed, causes the property to be removed, or is knowledgeable that the property will be removed by another after the foreclosure sale, from the county in which the property is assessed or seized, shall notify the tax collector of that county prior to the removal. The notice shall be mailed to the tax collector, return receipt requested, and shall contain a description of the property that is the subject of the foreclosure, together with the name and address of the owner or owners of the property.

(2) Failure to give the notice required under subsection (1) of this section shall not affect the foreclosure, but the tax collector shall have recourse against the financial institution on behalf of the taxing units for any damages sustained on account of failure to mail the notice. [1987 c.312 §2; 2001 c.41 §2]

Chapter 311

Law Review Cita­tions

5 EL 516 (1975)


1 Legislative Counsel Committee, CHAPTER 311—Collection of Property Taxes, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors311.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 311, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano311.­html (2015) (last ac­cessed Jul. 16, 2016).
 
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.