Terms Used In Oregon Statutes > Chapter 100 - Condominiums

• Acceptor: means a drawee who has accepted a draft. See Oregon Statutes 73.0103
• Adjourn: A motion to adjourn a legislative chamber or a committee, if passed, ends that day's session.
• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Allegation: something that someone says happened.
• Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
• Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• Appraisal: A determination of property value.
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Arrest: Taking physical custody of a person by lawful authority.
• Articles of incorporation: means the articles described in ORS § 60. See Oregon Statutes 60.001
• Assessment: means any charge imposed or levied by the association of unit owners on or against a unit owner or unit pursuant to provisions of the declaration or the bylaws of the condominium or provisions of this chapter. See Oregon Statutes 100.005
• Asset forfeiture: A procedure by which a person's property is seized to pay judgments levied by the court.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
• Association property: means any real property or interest in real property acquired, held or possessed by the association provided for under ORS § 100. See Oregon Statutes 100.005
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Bailiff: a court officer who enforces the rules of behavior in courtrooms.
• Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Bequest: Property gifted by will.
• Blanket encumbrance: means a trust deed or mortgage or any other lien or encumbrance, mechanic's lien or otherwise, securing or evidencing the payment of money and affecting more than one unit in a condominium, or an agreement affecting more than one such unit by which the developer holds such condominium under an option, contract to sell or trust agreement. See Oregon Statutes 100.005
• Board: means the Citizens' Utility Board of Governors. See Oregon Statutes 774.010
• Building: means a multiple-unit building or single-unit buildings, or any combination thereof, comprising a part of the property. See Oregon Statutes 100.005
• Buyer: means a person who buys or contracts to buy goods. See Oregon Statutes 72.1030
• Chambers: A judge's office.
• charging station: means a facility designed to deliver electrical current for the purpose of charging one or more electric motor vehicles. See Oregon Statutes 100.005
• Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
• Child: means an individual, whether over or under the age of majority, who is or is alleged to be owed a duty of support by the individual's parent or who is or is alleged to be the beneficiary of a support order directed to the parent. See Oregon Statutes 110.503
• Child support order: means a support order for a child, including a child who has attained the age of majority under the law of the issuing state or foreign country. See Oregon Statutes 110.503
• Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
• Commission: means the Oregon Transportation Commission. See Oregon Statutes 366.005
• Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
• Committee membership: Legislators are assigned to specific committees by their party. Seniority, regional balance, and political philosophy are the most prominent factors in the committee assignment process.
• Common elements: means the general common elements and the limited common elements. See Oregon Statutes 100.005
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• condominium unit: means a part of the property which:

  (a) Is described in ORS § 100. See Oregon Statutes 100.005

• Continuance: Putting off of a hearing ot trial until a later time.
• Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Oregon Statutes 72.1060
• Convention: means the Convention on the International Recovery of Child Support and Other Forms of Family Maintenance, concluded at The Hague on November 23, 2007. See Oregon Statutes 110.503
• Conversion condominium: means real property that a declarant intends to submit to the condominium form of ownership under this chapter on which there is a building, improvement or structure that was occupied prior to any negotiation and that is:

  (a) Residential in nature, at least in part; and

  (b) Not wholly commercial or industrial, or commercial and industrial, in nature. See Oregon Statutes 100.005

• Conviction: A judgement of guilt against a criminal defendant.
• County: means the county in which the district, or the greatest length of highway to be illuminated, is located. See Oregon Statutes 372.010
• County board: means board of county commissioners or county court of a county. See Oregon Statutes 372.010
• Court reporter: A person who makes a word-for-word record of what is said in court and produces a transcript of the proceedings upon request.
• Decedent: A deceased person.
• Declarant: means a person who records a declaration under ORS § 100. See Oregon Statutes 100.005
• Declaration: means the instrument described in ORS § 100. See Oregon Statutes 100.005
• Department: means the Department of Transportation. See Oregon Statutes 366.005
• Department: means the Department of Corrections. See Oregon Statutes 421.005
• Deposition: An oral statement made before an officer authorized by law to administer oaths. Such statements are often taken to examine potential witnesses, to obtain discovery, or to be used later in trial.
• Developer: means a declarant or any person that acquires an interest in a condominium from declarant, successor declarant or subsequent developer for the primary purpose of resale. See Oregon Statutes 100.005
• Director: means the Director of Transportation. See Oregon Statutes 366.005
• Director: means the Director of the Department of Corrections. See Oregon Statutes 421.005
• District: means a highway lighting district formed under this chapter. See Oregon Statutes 372.010
• District: means an electoral district for members of the Citizens' Utility Board of Governors. See Oregon Statutes 774.010
• Docket: A log containing brief entries of court proceedings.
• domestic corporation: means a corporation for profit that is incorporated under or subject to the provisions of this chapter and that is not a foreign corporation. See Oregon Statutes 60.001
• Drawee: means a person ordered in a draft to make payment. See Oregon Statutes 73.0103
• Drawer: means a person who signs or is identified in a draft as a person ordering payment. See Oregon Statutes 73.0103
• Duty of support: means an obligation imposed or imposable by law to provide support for a child, spouse or former spouse, including an unsatisfied obligation to provide support. See Oregon Statutes 110.503
• Electronic meeting: means a meeting that is conducted through telephone, teleconference, video conference, web conference or any other live electronic means where at least one participant is not physically present. See Oregon Statutes 100.005
• Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
• Entity: means a corporation, foreign corporation, nonprofit corporation, profit or nonprofit unincorporated association, business trust, partnership, two or more persons that have a joint or common economic interest, any state, the United States, a federally recognized Native American or American Indian tribal government and any foreign government. See Oregon Statutes 60.001
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. ^{Source: OCC}
• Ex officio: Literally, by virtue of one's office.
• executed by the association: means signed by the secretary and the president or chairperson of the association. See Oregon Statutes 100.005
• executive department: means all statewide elected officers other than judges, and all boards, commissions, departments, divisions and other entities, without regard to the designation given to those entities, that are within the executive branch of government as described in Article III, section 1, of the Oregon Constitution, and that are not:

  (a) In the judicial department or the legislative department;

  (b) Local governments; or

  (c) Special government bodies. See Oregon Statutes 174.112

• Executive session: A portion of the Senate's daily session in which it considers executive business.
• Executor: A male person named in a will to carry out the decedent
• Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. ^{Source: OCC}
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• Flexible condominium: means a condominium containing variable property that may be redesignated, reclassified or withdrawn from the condominium pursuant to ORS § 100. See Oregon Statutes 100.005
• Foreign corporation: means a corporation for profit that is incorporated under laws other than the laws of the state. See Oregon Statutes 60.001
• Foreign country: means a country, or a political subdivision of a country, other than the United States, that authorizes the issuance of support orders and:

  (a) That has been declared under the law of the United States to be a foreign reciprocating country;

  (b) That has established a reciprocal arrangement for child support with this state as provided in ORS § 110. See Oregon Statutes 110.503

• Foreign support order: means a support order of a foreign tribunal. See Oregon Statutes 110.503
• Foreign tribunal: includes a competent authority under the Convention. See Oregon Statutes 110.503
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gender identity: means an individual's gender-related identity, appearance, expression or behavior, regardless of whether the identity, appearance, expression or behavior differs from that associated with the gender assigned to the individual at birth. See Oregon Statutes 174.100
• Governing document: means articles of incorporation, bylaws, a declaration or a rule, regulation or resolution that was properly adopted by the association of unit owners or any other instrument or plat relating to common ownership or common maintenance of a portion of a condominium that is binding upon units within the condominium. See Oregon Statutes 100.005
• Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
• Grantor: The person who establishes a trust and places property into it.
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Hearsay: Statements by a witness who did not see or hear the incident in question but heard about it from someone else. Hearsay is usually not admissible as evidence in court.
• Highway: means every public way, road, street, thoroughfare and place, including bridges, viaducts and other structures within the boundaries of this state, open, used or intended for use of the general public for vehicles or vehicular traffic as a matter of right. See Oregon Statutes 366.005
• Highway: means any road or way open to public travel. See Oregon Statutes 372.010
• Highway fund: means the State Highway Fund. See Oregon Statutes 366.005
• Income: includes earnings or other periodic entitlements to money from any source and any other property subject to withholding for support under the law of this state. See Oregon Statutes 110.503
• Income withholding order: means an order or other legal process directed to an obligor's employer or other debtor issued pursuant to ORS § 25. See Oregon Statutes 110.503
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
• interest or estate: includes a lessee's interest in a unit for more than three years or less than three years if the interest may be renewed under the terms of the lease for a total period of more than three years. See Oregon Statutes 100.005
• Intestate: Dying without leaving a will.
• Issuing tribunal: means the tribunal of a state or foreign country that issues a support order or a judgment determining parentage of a child. See Oregon Statutes 110.503
• Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• judicial department: means the Supreme Court, the Court of Appeals, the Oregon Tax Court, the circuit courts and all administrative divisions of those courts, whether denominated as boards, commissions, committees or departments or by any other designation. See Oregon Statutes 174.113
• Law: includes decisional and statutory law and rules and regulations having the force of law. See Oregon Statutes 110.503
• Leasehold: means the interest of a person, firm or corporation that is the lessee under a lease from the owner in fee and that files a declaration creating a condominium under ORS § 100. See Oregon Statutes 100.005
• Legacy: A gift of property made by will.
• Legal tender: coins, dollar bills, or other currency issued by a government as official money. ^{Source: U.S. Mint}
• legislative department: means the Legislative Assembly, the committees of the Legislative Assembly and all administrative divisions of the Legislative Assembly and its committees, whether denominated as boards, commissions or departments or by any other designation. See Oregon Statutes 174.114
• Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
• Limited common elements: means those common elements designated in the declaration, as reserved for the use of a certain unit or number of units, to the exclusion of the other units. See Oregon Statutes 100.005
• Livestock: means equines, cattle, sheep, goats, llamas, alpacas and swine. See Oregon Statutes 72.1030
• local government: means all cities, counties and local service districts located in this state, and all administrative subdivisions of those cities, counties and local service districts. See Oregon Statutes 174.116
• majority of unit owners: means more than 50 percent of the voting rights allocated to the units by the declaration. See Oregon Statutes 100.005
• Maker: means a person who signs or is identified in a note as a person undertaking to pay. See Oregon Statutes 73.0103
• Member: means a member of the Citizens' Utility Board. See Oregon Statutes 774.010
• Mortgagee: means any person who is:

  (a) A mortgagee under a mortgage;

  (b) A beneficiary under a trust deed; or

  (c) The vendor under a land sale contract. See Oregon Statutes 100.005

• Negotiation: means any activity preliminary to the execution by either developer or purchaser of a unit sales agreement, including but not limited to advertising, solicitation and promotion of the sale of a unit. See Oregon Statutes 100.005
• Nonwithdrawable variable property: means property which pursuant to ORS § 100. See Oregon Statutes 100.005
• Obligor: means an individual, or the estate of a decedent, that:

  (a) Owes or is alleged to owe a duty of support;

  (b) Is alleged but has not been adjudicated to be a parent of a child;

  (c) Is liable under a support order; or

  (d) Is a debtor in a proceeding under ORS § 110. See Oregon Statutes 110.503

• Order: means a written instruction to pay money signed by the person giving the instruction. See Oregon Statutes 73.0103
• Outside this state: means a location in another state or a country other than the United States, whether or not the country is a foreign country. See Oregon Statutes 110.503
• Oversight: Committee review of the activities of a Federal agency or program.
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Party: means a party to an instrument. See Oregon Statutes 73.0103
• percentage of owners: means the percent of the voting rights determined under ORS § 100. See Oregon Statutes 100.005
• Person: means an individual or entity. See Oregon Statutes 60.001
• Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government, governmental subdivision, agency, instrumentality or any other legal or commercial entity. See Oregon Statutes 110.503
• Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
• Pleadings: Written statements of the parties in a civil case of their positions. In the federal courts, the principal pleadings are the complaint and the answer.
• Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. ^{Source: OCC}
• Preliminary hearing: A hearing where the judge decides whether there is enough evidence to make the defendant have a trial.
• present sale: means a sale which is accomplished by the making of the contract. See Oregon Statutes 72.1060
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• Principal office: means the physical street address of an office, in or out of this state, where the principal executive offices of a domestic or foreign corporation are located and designated in the annual report or in the application for authority to transact business in this state. See Oregon Statutes 60.001
• Probable cause: A reasonable ground for belief that the offender violated a specific law.
• Proceeding: means a civil, criminal, administrative or investigatory action. See Oregon Statutes 60.001
• Promise: means a written undertaking to pay money signed by the person undertaking to pay. See Oregon Statutes 73.0103
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• public body: means state government bodies, local government bodies and special government bodies. See Oregon Statutes 174.109
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• public notice: means any legal publication which requires an affidavit of publication as required in ORS § 193. See Oregon Statutes 174.104
• Purchaser: means an actual or prospective purchaser of a condominium unit pursuant to a sale. See Oregon Statutes 100.005
• Quorum: The number of legislators that must be present to do business.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Oregon Statutes 110.503
• Record date: means the date established under this chapter on which a corporation determines the identity of the corporation's shareholders and their shareholdings for purposes of this chapter. See Oregon Statutes 60.001
• Recorded: means to cause to be recorded by the county officer in the real property records for each county in which the condominium is located. See Oregon Statutes 100.005
• Recording officer: means the county officer charged with the duty of filing and recording deeds and mortgages or any other instruments or documents affecting the title to real property. See Oregon Statutes 100.005
• Register: means to file in a tribunal of this state a support order or judgment determining parentage of a child issued in another state or a foreign country. See Oregon Statutes 110.503
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Remand: When an appellate court sends a case back to a lower court for further proceedings.
• Remitter: means a person who purchases an instrument from the issuer if the instrument is payable to an identified person other than the purchaser. See Oregon Statutes 73.0103
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
• Reservation agreement: means an agreement relating to the future sale of a unit which is not binding on the purchaser and which grants purchaser the right to cancel the agreement without penalty and obtain a refund of any funds deposited at any time until purchaser executes a unit sales agreement. See Oregon Statutes 100.005
• Responding tribunal: means the authorized tribunal in a responding state or foreign country. See Oregon Statutes 110.503
• Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
• Sale: means any disposition or transfer of a condominium unit, or an interest or estate therein, by a developer, including the offering of the property as a prize or gift when a monetary charge or consideration for whatever purpose is required by the developer. See Oregon Statutes 100.005
• Seller: means a person who sells or contracts to sell goods. See Oregon Statutes 72.1030
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Sexual orientation: means an individual's actual or perceived heterosexuality, homosexuality or bisexuality. See Oregon Statutes 174.100
• Share: means a unit into which the proprietary interest in a corporation is divided. See Oregon Statutes 60.001
• Shareholder: means a person in whose name a share is registered in the records of a corporation or the beneficial owner of a share to the extent of the rights granted by a nominee certificate on file with a corporation. See Oregon Statutes 60.001
• Special declarant right: means any right, in addition to the regular rights of the declarant as a unit owner, reserved for the benefit of or created by the declarant under the declaration, bylaws or the provisions of this chapter. See Oregon Statutes 100.005
• special government body: means any of the following:

  (a) A public corporation created under a statute of this state and specifically designated as a public corporation. See Oregon Statutes 174.117

• Staged condominium: means a condominium that provides for annexation of additional property pursuant to ORS § 100. See Oregon Statutes 100.005
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, any territory or insular possession under the jurisdiction of the United States or an Indian nation or tribe. See Oregon Statutes 110.503
• state government: means the executive department, the judicial department and the legislative department. See Oregon Statutes 174.111
• State highway: means any road or highway designated as such by law or by the Oregon Transportation Commission pursuant to law and includes both primary and secondary state highways. See Oregon Statutes 366.005
• Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
• Successor declarant: means the transferee of any special declarant right. See Oregon Statutes 100.005
• Summons: Another word for subpoena used by the criminal justice system.
• Support enforcement agency: means a public official, governmental entity or private agency authorized to:

  (a) Seek enforcement of support orders or laws relating to the duty of support;

  (b) Seek establishment or modification of child support;

  (c) Request determination of parentage of a child;

  (d) Attempt to locate obligors or their assets; or

  (e) Request determination of the controlling child support order. See Oregon Statutes 110.503

• Support order: means a judgment, decree, order, decision or directive, whether temporary, final or subject to modification, issued in a state or foreign country for the benefit of a child, a spouse or a former spouse, that provides for monetary support, health care, arrearages, retroactive support or reimbursement for financial assistance provided to an individual obligee in place of child support. See Oregon Statutes 110.503
• Temporary restraining order: Prohibits a person from an action that is likely to cause irreparable harm. This differs from an injunction in that it may be granted immediately, without notice to the opposing party, and without a hearing. It is intended to last only until a hearing can be held.
• Termination date: means that date described in ORS § 100. See Oregon Statutes 100.005
• Testate: To die leaving a will.
• Testator: A male person who leaves a will at death.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
• Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.
• Transitional committee: means the committee provided for under ORS § 100. See Oregon Statutes 100.005
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Tribunal: means a court, administrative agency or quasi-judicial entity authorized to establish, enforce or modify support orders or to determine parentage of a child. See Oregon Statutes 110.503
• Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. ^{Source: OCC}
• Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
• Turnover meeting: means the meeting provided for under ORS § 100. See Oregon Statutes 100.005
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• Unit designation: means the number, letter or combination thereof designating a unit in the declaration and on the plat. See Oregon Statutes 100.005
• Utility: means any utility regulated by the Public Utility Commission pursuant to ORS chapters 757 and 759, which furnishes electric, telephone, gas or heating service. See Oregon Statutes 774.010
• utility consumer: means any natural person 18 years of age or older who is a resident of the State of Oregon. See Oregon Statutes 774.010
• Variable property: means property described in ORS § 100. See Oregon Statutes 100.005
• Variable Rate: Having a "variable" rate means that the APR changes from time to time based on fluctuations in an external rate, normally the Prime Rate. This external rate is known as the "index." If the index changes, the variable rate normally changes. Also see Fixed Rate.
• Verdict: The decision of a petit jury or a judge.
• Voting group: means all shares of one or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Oregon Statutes 60.001
• Voting rights: means the portion of the votes allocated to a unit by the declaration in accordance with ORS § 100. See Oregon Statutes 100.005
• wife: means spouses or a spouse in a marriage. See Oregon Statutes 174.100
• Writ: A formal written command, issued from the court, requiring the performance of a specific act.
• Written: means embodied as a document. See Oregon Statutes 60.001