Oregon Statutes 195.328 – Acquisition date of claimant
(1) Except as provided in this section, a claimant’s acquisition date is the date the claimant became the owner of the property as shown in the deed records of the county in which the property is located. If there is more than one claimant for the same property under the same claim and the claimants have different acquisition dates, the acquisition date is the earliest of those dates.
Terms Used In Oregon Statutes 195.328
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) If the claimant is the surviving spouse of a person who was an owner of the property in fee title, the claimant’s acquisition date is the date the claimant was married to the deceased spouse or the date the spouse acquired the property, whichever is later. A claimant or a surviving spouse may disclaim the relief provided under ORS § 195.305 to 195.336 and sections 5 to 11, chapter 424, Oregon Laws 2007, sections 2 to 9 and 17, chapter 855, Oregon Laws 2009, and sections 2 to 7, chapter 8, Oregon Laws 2010, by using the procedure provided in ORS § 105.623 to 105.649.
(3) If a claimant conveyed the property to another person and reacquired the property, whether by foreclosure or otherwise, the claimant’s acquisition date is:
(a) Unaffected by the conveyance if the claimant reacquired the property within 10 days after the conveyance; or
(b) The date the claimant reacquired ownership of the property if the claimant reacquired the property more than 10 days after the claimant conveyed the property.
(4) A default judgment entered after December 2, 2004, does not alter a claimant’s acquisition date unless the claimant’s acquisition date is after December 2, 2004. [2007 c.424 § 21; 2011 c.612 § 1]