Oregon Statutes 130.525 – Applicability of ORS 130.530, 130.535 and 130.540 to 130.575
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(1) ORS § 130.530 and 130.535 apply only to a trust, or portion of a trust:
Terms Used In Oregon Statutes 130.525
- Revocable trust: A trust agreement that can be canceled, rescinded, revoked, or repealed by the grantor (person who establishes the trust).
(a) That comes into existence during the settlor’s lifetime; and
(b) Is a revocable trust on the occurrence of any of the events described in ORS § 130.530 or 130.535.
(2) ORS § 130.540 to 130.575 apply only to a trust, or a portion of a trust, that comes into existence during the settlor’s lifetime and that was a revocable trust at the time of the settlor’s death. [2005 c.348 § 110; 2013 c.529 § 10]