Oregon Statutes 18.988 – Sellers right to receive payments under land sale contract
(1) Except as provided by this section, the right of a seller to receive payments under a land sale contract, as defined by ORS § 18.960:
Terms Used In Oregon Statutes 18.988
- Contract: A legal written agreement that becomes binding when signed.
- Execution: means enforcement of the money award portion of a judgment or enforcement of a judgment requiring delivery of the possession or sale of specific real or personal property, by means of writs of execution, writs of garnishment and other statutory or common law writs or remedies that may be available under the law. See Oregon Statutes 18.005
- Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(a) May not be sold pursuant to a writ of garnishment;
(b) May be sold only under a writ of execution in conjunction with a sale of the seller’s interest in the real property; and
(c) Must be levied on and sold in the same manner as provided for real property under ORS § 18.860 to 18.993.
(2) This section does not affect the ability of a judgment creditor to garnish payments owed to a seller under a land sale contract, as defined by ORS § 18.960, that are due when the writ of garnishment is delivered or within 45 days after the writ of garnishment is delivered, as provided by ORS § 18.685 (5). [2005 c.542 § 51]