Foreclosure after filing of bond or deposit of money
- • effect of filing or deposit
- • disposition of bond or money
(1) A suit to foreclose a lien pursuant to ORS 87.060 (Foreclosure) that is commenced or pending after a bond is filed or money deposited under ORS 87.076 (Bond or deposit of money) shall proceed as if no filing or deposit was made except that the lien shall attach to the bond or money upon the filing or deposit and the service of notice thereof upon the lien claimant. The property described in the claim of lien is thereafter entirely free of the lien and is not involved in subsequent proceedings.
(2) The county or an officer or employee of the county may not be named or otherwise made a party to a suit described in subsection (1) of this section.
(3) When a bond is filed or money is deposited, if, in a suit to enforce the lien for which the filing or deposit is made, the court allows the lien, the lien must be satisfied out of the bond or money. The court shall include as part of the court’s judgment an order that specifies the amount the treasurer must release to the judgment creditor and the amount of the remaining balance that the treasurer must release to the person who deposited the money.
(4) When a bond is filed or money is deposited, if, in a suit to enforce the lien for which the filing or deposit is made, the court disallows the lien, the court shall include as part of the court’s judgment an order to return the bond or money to the person who filed the bond or deposited the money.
(5) Notwithstanding an order from the court under subsection (3) or (4) of this section or an order or notice under ORS 87.088 (Release of lien or return of money), if the county treasurer is not certain about how to distribute money deposited under ORS 87.076 (Bond or deposit of money), the treasurer shall notify the lien claimant and the person who deposited the money of how the treasurer intends to distribute the money. If within 10 days after the date of the treasurer’s notice a party to the suit to foreclose the lien objects to the notice, the treasurer may:
(a) Hold the money until the court or a stipulation of the parties provides further direction; or
(b) Commence an interpleader proceeding under ORCP 31. [1975 c.466 §20; 1987 c.662 §16; 2005 c.22 §55; 2009 c.513 §2]
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. Currency Information