If a first mortgagee acquires a lot in a planned community by foreclosure or deed in lieu of foreclosure, the mortgagee and subsequent purchaser shall not be liable for any of the common expenses chargeable to the lot which became due before the mortgagee or purchaser acquired title to the lot. The unpaid expenses shall become a common expense of all lot owners including the mortgagee or purchaser.
ORS 94.723
Known as the Oregon Planned Community Act
The act spans §§ 94–94 (342 sections).
Applied in 1 court decision — leading case In re Watt (2014)
Most recently applied in In re Watt (October 2014)
1981 c.782 §46; 1999 c.677 §27
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.