(1) Notwithstanding any repeal of chapter 440, Oregon Laws 1943, known as the Oregon Community Property Law of 1943, spouses in a marriage who elected to come under the terms of that law may revoke the election upon filing in the office of the Secretary of State a notice of the spouses’ desire to revoke the election in the following form:

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KNOW ALL PERSONS BY THESE PRESENTS, That we, _____ and _____, hereby state and represent that we are spouses in a marriage; that we reside in _____ County, Oregon, and our post-office address is No. _____ Street, City of _____; that we do hereby revoke our election filed in the office of the Secretary of State of the State of Oregon on the _____ day of _____, 2_____, to avail ourselves of the provisions of chapter 440, Oregon Laws 1943, being the Oregon Community Property Law.

IN WITNESS WHEREOF we have hereunto set our hands and seals this _____ day of _____, 2_____.

BE IT REMEMBERED that on this _____ day of _____, 2_____, before me, the undersigned, a notary public in and for said county and state, personally appeared the within named _____ and _____, spouses in a marriage, who are known to me to be the identical persons described in and who executed the within instrument, and acknowledged to me that they executed the same.

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Acknowledgments may be taken by any other officer authorized to take acknowledgments.

(2) Such an instrument, together with a fee of $15, shall be presented to the Secretary of State, who thereupon shall file the instrument, properly index it in a book kept for that purpose and transmit to the recording officer of each county in the state the certificate of the Secretary of State, setting forth the nature of such instrument, the names of the parties thereto, the date thereof, and the date of the filing thereof in the office of the Secretary of State. Upon receipt of such certificate, the recording officer shall file it and properly index it in a book kept for that purpose.

(3) Public notice of such revocation exists upon compliance with subsection (2) of this section.

(4) The filing of such revocation operates to restore the title to any community property of persons making the revocation to the status of the property which existed on the date on which such persons filed a certificate of election under the terms of the Oregon Community Property Law of 1943. Such revocation in nowise limits the right of such persons to execute and record such conveyances, assignments and transfers of property, or title thereto, as may operate to effect and make a matter of record the restoration of titles to the status they occupied prior to the filing of the certificate of election. [Amended by 2015 c.629 § 25]