Oregon Statutes 112.765 – Rights of purchaser
(1) If a surviving spouse has apparent title to property to which ORS § 112.705 to 112.775 apply, a purchaser for value or a lender taking a security interest in the property takes interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.
Terms Used In Oregon Statutes 112.765
- Decedent: A deceased person.
(2) If a personal representative or an heir or devisee of the decedent has apparent title to property to which ORS § 112.705 to 112.775 apply, a purchaser for value or a lender taking a security interest in the property takes interest in the property free of any rights of the surviving spouse.
(3) A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
(4) The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender. [1973 c.205 § 6]