Oregon Statutes 456.220 – Exemption of property from process or judgment lien
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All real property of an authority is exempt from levy and sale by virtue of an execution. No execution or other judicial process shall issue against such property nor shall any judgment against an authority be a charge or lien upon its real property. However, this section does not apply to or limit the right of obligees to foreclose or otherwise enforce any mortgage of an authority or the right of obligees to pursue any remedies for the enforcement of any pledge or lien given by an authority on its rents, fees or revenues.
Terms Used In Oregon Statutes 456.220
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
[Amended by 1991 c.851 § 1; 1995 c.445 § 13; 1997 c.406 § 2; renumbered 307.092 in 2003]