Oregon Statutes 79.0337 – UCC 9-337. Priority of security interests in goods covered by certificate of title
If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title or manufactured structure ownership document or records a manufactured structure in a county deed record and the certificate, document or record does not show that the goods are subject to the security interest or contain a statement that they may be subject to security interests not shown on the certificate, document or record:
Terms Used In Oregon Statutes 79.0337
- Certificate of title: includes another record maintained as an alternative to the certificate of title by the governmental unit that issues certificates of title if a statute permits the security interest in question to be indicated on the record as a condition or result of the security interest's obtaining priority over the rights of the lien creditor with respect to the collateral. See Oregon Statutes 79.0102
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Document: means a document of title or a receipt of the type described in ORS § 77. See Oregon Statutes 79.0102
- Goods: means all things that are movable when a security interest attaches. See Oregon Statutes 79.0102
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Manufactured structure: has the meaning given that term in ORS § 446. See Oregon Statutes 79.0102
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Oregon Statutes 79.0102
(1) A buyer of the goods, other than a person in the business of selling goods of that kind, takes free of the security interest if the buyer gives value and receives delivery of the goods after issuance of the certificate of title or manufactured structure ownership document or recording in the deed record and without knowledge of the security interest; and
(2) The security interest is subordinate to a conflicting security interest in the goods that attaches, and is perfected under ORS § 79.0311 (2), 446.611 or 446.626, after issuance of the certificate of title or manufactured structure ownership document or recording in the deed record and without the conflicting secured party’s knowledge of the security interest. [2001 c.445 § 57; 2003 c.655 § 55]