Chapter 495
AN ACT
SB 302
Relating to judgments of foreclosure and sale; creating new provisions;
and amending ORS 18.312.
Be It Enacted by the People of
the State of
SECTION 1.
ORS 18.312 is amended to read:
18.312. (1) Except as
provided in subsection (2) of this section, execution [shall not issue] may not be issued against the property of a
deceased party[, but such judgment shall
be paid as]. Except as provided in subsection (2) of this section, a
judgment against a deceased party may be collected only by making a claim
against the estate of the deceased party in the manner prescribed by ORS
chapter 115 or ORS 114.505 to 114.560.
(2) This section does
not prevent the issuance of execution and sale of property pursuant to a
judgment of foreclosure and sale of property of the decedent. If the amount
realized from the sale of property is not sufficient to satisfy the judgment
and collection of the deficiency is otherwise allowed by law, the amount of the
deficiency may be collected by making a claim against the estate in the manner
prescribed by ORS chapter 115 or ORS 114.505 to 114.560.
SECTION 2. The
amendments to ORS 18.312 by section 1 of this 2007 Act apply to all decedents,
whether dying before, on or after the effective date of this 2007 Act.
Approved by the Governor June 20, 2007
Filed in the office of Secretary of State June 21, 2007
Effective date January 1, 2008
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