Oregon Statutes 100.140 – Temporary relocation of floating structure; security interests upon termination of condominium
(1) A floating structure described in ORS § 100.020 (3)(b)(D) that constitutes part of a condominium may be temporarily relocated for purposes of safety, renovation, repair or remodeling without affecting its status as a condominium or real property. However, if the floating structure is not returned to its original location within 18 months after the relocation, the condominium shall be terminated or, if there are remaining units, partially terminated pursuant to ORS § 100.600 and subsection (2) of this section.
Terms Used In Oregon Statutes 100.140
- association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) If the condominium is terminated, all security interests affecting any interest in the condominium shall continue to be considered a security in real property after the termination, notwithstanding that the floating structure portion of the condominium may be physically moved from its permanent moorage.
(3) When a floating structure has been relocated under subsection (1) of this section, the board of directors of the association shall give written notice of the temporary location of the structure to the county assessor within 10 days of the relocation. [1997 c.816 § 18]
100.140 was added to and made a part of ORS Chapter 100 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
FLEXIBLE CONDOMINIUMS