Oregon Statutes 18.952 – Effect of sale on judgment debtors or mortgagors title; effect of redemption by judgment debtor or mortgagor
(1) The title of a judgment debtor or mortgagor to real property that is subject to redemption under ORS § 18.960 to 18.985 is not transferred by the sale of the property at an execution sale. If a judgment debtor or mortgagor, or a successor in interest to a judgment debtor or mortgagor, redeems property sold at an execution sale, the right to possession of the property is restored subject to all liens of record, whether arising before, on or after the sale, as though the sale had never occurred.
Terms Used In Oregon Statutes 18.952
- Execution: means enforcement of the money award portion of a judgment or enforcement of a judgment requiring delivery of the possession or sale of specific real or personal property, by means of writs of execution, writs of garnishment and other statutory or common law writs or remedies that may be available under the law. See Oregon Statutes 18.005
- Judgment: means the concluding decision of a court on one or more requests for relief in one or more actions, as reflected in a judgment document. See Oregon Statutes 18.005
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) If a judgment debtor or mortgagor, or a successor in interest to a judgment debtor or mortgagor, redeems property sold at an execution sale, the property may not be redeemed by any other person. The sheriff shall provide the redemptioner with a certificate of redemption. A certificate of redemption may be recorded in the County Clerk Lien Record for the county in which the property is located. [2005 c.542 § 36]