Oregon Liens Flashcards
Homestead Exemption only applies to __________ liens.
Judgment
Homestead Excemption
Homeowner is provided with some protection against the forced sale of his person residence die to judgement lien.
If not paid, a construction lien claimant will have _______ days from the date of filing to foreclose.
120
If not paid, a person has up to _____ day from the date of ceasing to provide labor, rental equipment or materials to file a construction lien
75
The _________ __________ Act provides that payments do special assessments (lights, streets, sidewalks and other city improvements on which homeowner benefits) may be paid in a lump sum of in installments.
Bancroft Bonding
The ___________ ____ lien usually has priority over other interests in real property regardless if when it scones a lien of record.
Property tax
Property tax is assessed by value making it an __ ________ tax.
Ad Valorem
In an appeal, the burden of proof in determining the valuation if his property rests in the __________.
Taxpayer.
To qualify for veteran’s property tax exemption, a vet must _______ on the property, and the vet or vet spouse must ____ it.
Reside, own
Taxes in real and personal property in Oregon become a lien on_____ __ of the year if he assessment.
July 1.
Taxes are not due until:
Nov 15
Real property taxes become delinquent on:
May 16
Tax foreclosure of real property can occur 3 years after the earliest _____________ date.
Delinquency
During the __________ _________ following property tax foreclosure, the delinquent taxpayer has the right of possession.
Redemption Period
Senior citizens may defer their taxes by applying for a _______ _______’s property tax deferral.
Senior citizens
