Oregon Statutes 470.685 – Recording liens; foreclosure of liens; attorney fees and costs
Current as of: 2023 | Check for updates
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(1) The State Department of Energy or a sustainable energy project manager may act on behalf of the Director of the State Department of Energy for the purpose of recording a lien in favor of the director as required by ORS § 470.170 (3) against property benefited by an energy efficiency and sustainable technology loan.
Terms Used In Oregon Statutes 470.685
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Director: means the Director of the State Department of Energy appointed under ORS § 469. See Oregon Statutes 470.050
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Loan: includes the purchase or other acquisition of evidence of indebtedness and money used for the purchase or other acquisition of evidence of indebtedness. See Oregon Statutes 470.050
- Sustainable energy project manager: means the organization responsible for promoting the energy efficiency and sustainable technology loan program or the clean energy deployment program and related incentives for energy efficiency and renewable energy at the neighborhood and community level. See Oregon Statutes 470.050
(2) A lien described in this section attaches to the property and is perfected upon recording in the county deed records.
(3) In an action to foreclose a lien created under this section, the court shall include in the lien amount all costs for filing and recording the lien. The court shall award a prevailing party in the foreclosure action reasonable attorney fees and costs. [2009 c.753 § 37]