2017 ORS 88.120¹
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]

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)

Chapter 88

Notes of Decisions

Foreclosure is governed by statutes which do not require court to parti­tion prop­erty before sale. John Hancock Mutual Life Ins. Co. v. Arnold, 85 Or App 140, 735 P2d 1270 (1987), Sup Ct review denied

Where mortgagor’s grantee redeems prop­erty, redeemed prop­erty is subject to all junior liens on prop­erty existing prior to foreclosure. Franklin v. Spencer, 309 Or 476, 789 P2d 643 (1990)

Atty. Gen. Opinions

Impair­ment of mortgagee’s remedy of foreclosure where local planning authorities, under local parti­tion ordinance, deny permission to foreclose mortgage, (1978) Vol 38, p 2148

1 Legislative Counsel Committee, CHAPTER 88—Foreclosure of Mortgages and Other Liens, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors088.­html (2017) (last ac­cessed Mar. 30, 2018).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2017, Chapter 88, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano088.­html (2017) (last ac­cessed Mar. 30, 2018).
 
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.