Oregon Statutes 456.700 – Pledge and lien
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Any pledge, commitment or reservation of funds made by the Housing and Community Services Department under ORS § 456.515 to 456.725 is valid and binding from the date on which the pledge was executed as provided in ORS § 286A.102. The lien of the pledge is valid and binding as against all parties having any claims in tort, contract or otherwise against the department whether or not the parties have notice of the lien. [1973 c.828 § 22; 1977 c.32 § 2; 1995 c.79 § 265; 2007 c.783 § 203]
Terms Used In Oregon Statutes 456.700
- Contract: A legal written agreement that becomes binding when signed.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.