Oregon Statutes 456.165 – Vested rights of creditors not affected by restrictions of ORS 456.155 and 456.160
Current as of: 2023 | Check for updates
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ORS 456.155 and 456.160 do not limit the power of an authority to vest in an obligee the right, in the event of a default by the authority, to take possession of a housing project or cause the appointment of a receiver thereof or acquire title thereto through foreclosure proceedings, free from all the restrictions imposed by those sections.
Terms Used In Oregon Statutes 456.165
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
[Amended by 1973 c.672 § 12; repealed by 2007 c.606 § 13]