(1) If a final determination treats the grantor of a trust or any other person as the owner of any portion of a trust pursuant to sections 671 to 679 of the federal Internal Revenue Code or any other law, the lien of the State of Oregon imposed by ORS § 314.417 shall attach to all property and rights to property, whether real or personal, of that portion of the trust. The lien may be foreclosed pursuant to ORS § 314.419 or collected by warrant pursuant to ORS § 314.430.

Terms Used In Oregon Statutes 314.330

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Grantor: The person who establishes a trust and places property into it.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100

(2) For the purposes of subsection (1) of this section, ‘final determination’ means:

(a) An assessment which has become final due to failure to exercise or exhaust rights of appeal to the Oregon Tax Court.

(b) A decision of the Oregon Tax Court which has become final.

(c) A decision of the Oregon Supreme Court. [1985 c.149 2,3; 1995 c.556 § 24; 1995 c.650 § 31]

 

RETURNS

 

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