Forfeiture allowed for default under certain collateral assignments of interest
In the event of a default under a collateral assignment of the interest of a seller or purchaser in a land sale contract, including a collateral assignment of the proceeds thereof, the assignee may enforce a remedy of forfeiture, as set forth in ORS 93.905 (Definitions for ORS 93.905 to 93.940) to 93.945 (Application of ORS 93.910 to 93.940), unless the agreement between the parties otherwise prohibits such remedy. [1989 c.516 §3]
Note: 93.913 (Forfeiture allowed for default under certain collateral assignments of interest) and 93.918 (Continuation of proceedings after certain types of stay ordered by court) were added to and made a part of ORS chapter 93 by legislative action but were not added to any series therein. See Preface to Oregon Revised Statutes for further explanation.
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