(1) A sheriff shall file a notice of levy on intangible property with the court upon receiving the instructions directing the sale of intangible personal property unless the sheriff is provided with an order entered under subsection (3) of this section. The notice shall identify the nature of the property to be sold.

Terms Used In Oregon Statutes 18.884

  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Judgment: means the concluding decision of a court on one or more requests for relief in one or more actions, as reflected in a judgment document. See Oregon Statutes 18.005
  • Personal property: All property that is not real property.

(2) A judgment creditor may seek an ex parte order from the court for the purpose of determining whether property to be levied on is tangible or intangible.

(3) A judgment creditor may seek an ex parte order from the court directing the manner in which intangible personal property may be secured by the sheriff. The court shall approve the order if the proposed manner of securing the property is reasonable under the circumstances. The judgment creditor must attach a copy of the order to instructions provided to the sheriff under ORS § 18.875. The sheriff shall file a notice of levy with the court upon securing the property in the manner directed by the order. [2005 c.542 § 11; 2007 c.166 § 14]

 

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