Terms Used In Oregon Statutes > Chapter 307 > Exemptions > Student Housing

• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Buyer: means a person who buys or contracts to buy goods. See Oregon Statutes 72.1030
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• 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.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Seller: means a person who sells or contracts to sell goods. See Oregon Statutes 72.1030