Oregon Statutes 470.695 – Sale of real property; notice of loan repayment charge required
Current as of: 2023 | Check for updates
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A person entering into an agreement to sell, rent, lease or otherwise confer a right in the person’s real property that is benefited by an energy efficiency and sustainable technology loan for which a loan repayment charge or other repayment obligation applies or for which a fixture filing, lien or other form of security exists shall, prior to any party signing the agreement, give notice of the loan repayment charge, repayment obligation, filing, lien or other security affecting the property to the other parties to the agreement. [2009 c.753 § 39]
Terms Used In Oregon Statutes 470.695
- 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
- 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
- Loan repayment charge: means an amount charged to a utility customer account through on-bill financing as a mechanism for the repayment of an energy efficiency and sustainable technology loan. See Oregon Statutes 470.050
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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.
(Loan Offset Grants)