Terms Used In Oregon Statutes > Chapter 357 > State Library > Finances

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assessment: means any charge imposed or levied by the association of unit owners on or against a unit owner or unit pursuant to provisions of the declaration or the bylaws of the condominium or provisions of this chapter. See Oregon Statutes 100.005
• association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
• Bequest: Property gifted by will.
• City: includes any incorporated village or town. See Oregon Statutes 174.100
• Common elements: means the general common elements and the limited common elements. See Oregon Statutes 100.005
• Declarant: means a person who records a declaration under ORS § 100. See Oregon Statutes 100.005
• Declaration: means the instrument described in ORS § 100. See Oregon Statutes 100.005
• Devise: To gift property by will.
• District: means a highway lighting district formed under this chapter. See Oregon Statutes 372.010
• executed by the association: means signed by the secretary and the president or chairperson of the association. See Oregon Statutes 100.005
• Flexible condominium: means a condominium containing variable property that may be redesignated, reclassified or withdrawn from the condominium pursuant to ORS § 100. See Oregon Statutes 100.005
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Highway: means any road or way open to public travel. See Oregon Statutes 372.010
• judicial department: means the Supreme Court, the Court of Appeals, the Oregon Tax Court, the circuit courts and all administrative divisions of those courts, whether denominated as boards, commissions, committees or departments or by any other designation. See Oregon Statutes 174.113
• 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}
• Legacy: A gift of property made by will.
• Limited common elements: means those common elements designated in the declaration, as reserved for the use of a certain unit or number of units, to the exclusion of the other units. See Oregon Statutes 100.005
• Nonwithdrawable variable property: means property which pursuant to ORS § 100. See Oregon Statutes 100.005
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Recorded: means to cause to be recorded by the county officer in the real property records for each county in which the condominium is located. See Oregon Statutes 100.005
• Recording officer: means the county officer charged with the duty of filing and recording deeds and mortgages or any other instruments or documents affecting the title to real property. See Oregon Statutes 100.005
• State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
• Termination date: means that date described in ORS § 100. See Oregon Statutes 100.005
• Variable property: means property described in ORS § 100. See Oregon Statutes 100.005
• Voting rights: means the portion of the votes allocated to a unit by the declaration in accordance with ORS § 100. See Oregon Statutes 100.005