Oregon Statutes 314.423 – Status of lien
(1) After a warrant has been recorded under ORS § 314.430, the lien imposed by ORS § 314.417 shall be subordinate to:
Terms Used In Oregon Statutes 314.423
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(a) Any interest in real property to the same extent that a judgment recorded in the County Clerk Lien Record under ORS § 18.152 at the same time the warrant was recorded would be subordinate to the interest; and
(b) Any interest in personal property to the same extent that a security agreement filed under the Uniform Commercial Code at the same time the warrant was filed would be subordinate to the interest.
(2) After a warrant has been recorded under ORS § 314.430, the lien imposed by ORS § 314.417 shall not be valid as to a purchaser, security interest holder or lienholder in a sale, security agreement or lien arising out of the following types of property or property transactions unless the purchaser, security interest holder or lienholder had actual knowledge of the lien:
(a) Securities as defined in ORS § 78.1020;
(b) Retail purchases in the ordinary course of business;
(c) Casual sales of personal property;
(d) Attorney’s liens;
(e) Insurance contract loans; or
(f) Passbook loans. [1971 c.215 6,7; 1987 c.586 § 41; 1997 c.325 § 36; 2003 c.576 § 230]