Oregon Statutes 273.131 – Compromise or release of claims
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The Department of State Lands may, whenever in its judgment such course is to the best interest of the state, compromise, settle, release and discharge any mortgage, judgment or other claim in favor of the State of Oregon, and arising out of the sale or lease of property within the jurisdiction of the department, upon such terms as the department may direct. [Formerly 273.460]
Terms Used In Oregon Statutes 273.131
- Department: means the Department of State Lands. See Oregon Statutes 273.006
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(Cooperation With Other Agencies and Governmental Entities)