Oregon Administrative Rules
Chapter 813 - OREGON HOUSING AND COMMUNITY SERVICES DEPARTMENT
Division 15 - OREGON RURAL REHABILITATION PROGRAM
Section 813-015-0040 - Transfer of Ownership
Current through Register Vol. 63, No. 9, September 1, 2024
(1) An Eligible Borrower who has received an ORR Loan shall not transfer ownership, lease, or otherwise encumber any property which serves as security for a ORR Loan without prior written consent from the Department. Consent will not be unreasonably withheld.
(2) A transfer of ownership means a sale, conveyance or other transfer of:
(3) The Department may collect from the Eligible Borrower a transfer processing charge of 1% of the current ORR Loan balance with a minimum of $100 and a maximum of $1,000, plus any incurred Department of Justice charges or other legal costs incurred.
Stat Auth: ORS 456.515 - 456.725
Stats Implemented: ORS 456.515 - 456.725, 566.310 - 566.360