Oregon Statutes 112.590 – Protection of bona fide purchasers; personal liability of recipient
(1) Unless the person has notice of the claim at the time the purchase, payment or delivery is made, a person who purchases property for value, or who receives payment, property or other benefit in full or partial satisfaction of a legally enforceable obligation, is not liable to another person with a claim to the payment, property or benefit by reason of the operation of the survivorship rules established under ORS § 112.570 to 112.590 and need not return the payment, property or other benefit.
Terms Used In Oregon Statutes 112.590
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) A person who receives payment, property, or other benefit to which the person is not entitled by reason of the survivorship rules established under ORS § 112.570 to 112.590 must return the payment, property or other benefit if:
(a) The person was aware of a claim to the payment, property or other benefit under the survivorship rules established under ORS § 112.570 to 112.590 at the time the purchase, payment or delivery was made; or
(b) The person received the payment, property or other benefit for no value.
(3) A person who receives any payment, property or other benefit to which the person is not entitled because any part of ORS § 112.570 to 112.590 is preempted by federal law must return the payment, property or other benefit if the person received the payment, property or other benefit for no value.
(4) Any person who is required to return any payment, property or other benefit under this section and who does not return the payment, property or other benefit is personally liable to a person with a right to the property under the survivorship rules established under ORS § 112.570 to 112.590 or with a right to the property by reason of federal preemption of all or part of the survivorship rules. [1999 c.131 § 8]
See note under 112.570.
[Formerly 112.030; repealed by 1999 c.131 § 11]
[1969 c.591 § 72; repealed by 1999 c.131 § 11]
[Formerly 112.040; repealed by 1999 c.131 § 11]
[Formerly 112.060; repealed by 1999 c.131 § 11]
[Formerly 112.070; repealed by 1999 c.131 § 11]
[Formerly 112.080; repealed by 1999 c.131 § 11]
[1975 c.480 § 9 (enacted in lieu of 112.675); repealed by 2001 c.245 § 19]
[1975 c.480 § 2 (enacted in lieu of 112.675); 1981 c.55 § 1; repealed by 2001 c.245 § 19]
[1975 c.480 § 3 (enacted in lieu of 112.675); 1981 c.55 § 2; repealed by 2001 c.245 § 19]
[1975 c.480 § 4 (enacted in lieu of 112.675); 1981 c.55 § 3; repealed by 2001 c.245 § 19]
[1975 c.480 § 5 (enacted in lieu of 112.675); 1981 c.55 § 4; repealed by 2001 c.245 § 19]
[1975 c.480 § 6 (enacted in lieu of 112.675); repealed by 2001 c.245 § 19]
[1975 c.480 § 7 (enacted in lieu of 112.675); 1981 c.55 § 5; repealed by 2001 c.245 § 19]
[1975 c.480 § 8 (enacted in lieu of 112.675); repealed by 2001 c.245 § 19]
[1969 c.591 § 77; repealed by 1975 c.480 § 1 (112.650 to 112.667 enacted in lieu of 112.675)]
DOWER AND CURTESY ABOLISHED