Terms Used In Oregon Statutes > Chapter 359 > Trust for Cultural Development

• 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.
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• 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
• 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.
• 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: means articles of incorporation, articles of conversion or articles of merger. See Oregon Statutes 62.015
• 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
• association: means 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.
• 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.
• Bequest: Property gifted by will.
• Board: means board of directors. See Oregon Statutes 62.015
• 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
• 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
• Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
• Common elements: means the general common elements and the limited common elements. See Oregon Statutes 100.005
• condominium unit: means a part of the property which:

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

• Contract: A legal written agreement that becomes binding when signed.
• Cooperative: means a cooperative corporation that is subject to the provisions of this chapter. See Oregon Statutes 62.015
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means a corporation that is not a cooperative. See Oregon Statutes 62.015
• 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
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Delivery: means a method of delivery that is used in conventional commercial practice and includes hand delivery, mail delivery, commercial delivery and electronic transmission. See Oregon Statutes 62.015
• 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
• Devise: To gift property by will.
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Electronic signature: has the meaning given that term in ORS § 84. See Oregon Statutes 62.015
• Electronic transmission: means a method of communicating information that:

  (a) Does not directly involve a transfer of a physical object that embodies the communication; and

  (b) Enables the recipient to store, retrieve and reproduce the information. See Oregon Statutes 62.015

• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• 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.
• Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
• Fiduciary: A trustee, executor, or administrator.
• 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.
• Foreign cooperative: means a cooperative corporation that is organized under laws other than the laws of this state. See Oregon Statutes 62.015
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• 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.
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• 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
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• 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
• Membership stock: means any class of stock, continuous ownership of which is required for membership in a cooperative. See Oregon Statutes 62.015
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Oath: A promise to tell the truth.
• 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.
• Person: means an individual, corporation, association, firm, partnership, joint stock company, cooperative or foreign cooperative. See Oregon Statutes 62.015
• Personal property: All property that is not real property.
• Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
• 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.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• 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
• 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
• 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.
• Signature: means a manual, facsimile, conformed or electronic signature. See Oregon Statutes 62.015
• state government: means the executive department, the judicial department and the legislative department. See Oregon Statutes 174.111
• State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
• Statute: A law passed by a legislature.
• Subpoena: A command to a witness to appear and give testimony.
• Summons: Another word for subpoena used by the criminal justice system.
• Testify: Answer questions in court.
• Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
• Trustee: A person or institution holding and administering property in trust.
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100
• 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