Oregon Statutes 88.030 – Other lienholders and debtors as defendants; effect of failure to redeem
Any person having a lien subsequent to the plaintiff upon the same property or any part thereof, or who has given a promissory note or other personal obligation for the payment of the debt, or any part thereof, secured by the mortgage or other lien which is the subject of the suit, shall be made a defendant in the suit, and any person having a prior lien may be made defendant at the option of the plaintiff, or by the order of the court when deemed necessary. The failure of any junior lien or interest holder who is omitted as a party defendant in the suit to redeem within five years of the date of a sheriff’s sale under ORS § 88.106 shall bar such junior lien or interest holder from any other action or proceeding against the property by the person on account of such person’s lien or interest. [Amended by 1985 c.817 § 10]
Terms Used In Oregon Statutes 88.030
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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
- Plaintiff: The person who files the complaint in a civil lawsuit.