Terms Used In Oregon Statutes > Chapter 357 > State Library > Grants

• 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
• 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
• 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}
• Common elements: means the general common elements and the limited common elements. See Oregon Statutes 100.005
• Contract: A legal written agreement that becomes binding when signed.
• 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

• 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
• 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
• District: means a highway lighting district formed under this chapter. See Oregon Statutes 372.010
• 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• Flexible condominium: means a condominium containing variable property that may be redesignated, reclassified or withdrawn from the condominium pursuant to ORS § 100.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
• Highway: means any road or way open to public travel. See Oregon Statutes 372.010
• 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
• 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
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
• Personal property: All property that is not real property.
• 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
• 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
• 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
• Staged condominium: means a condominium that provides for annexation of additional property pursuant to ORS § 100. See Oregon Statutes 100.005
• Successor declarant: means the transferee of any special declarant right. See Oregon Statutes 100.005
• Turnover meeting: means the meeting provided for under ORS § 100. See Oregon Statutes 100.005
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100