§ 18.981 Manner of payment

Codes > Oregon Revised Statutes > Title 2 > Chapter 18 : Execution Sale > (Redemption) : 18.981

18.981. Manner of payment

    (1) Except as provided in this section, a sheriff shall accept as payment from a claimant a cashier's check or cash. Except as provided in this section, a sheriff shall accept any combination of cashier's checks or cash that is adequate to pay the redemption amount.

    (2) A sheriff shall accept a cashier's check as payment only if the cashier's check is made payable to the sheriff and is drawn on a financial institution that is authorized to do business under the laws of Oregon or the United States. If any part of the redemption amount is paid with a cashier's check, the sheriff shall give the purchaser a receipt for the funds in lieu of a certificate of redemption under ORS 18.975.

    (3) If any part of the redemption amount is paid with a cashier's check, the sheriff shall deposit the check in a financial institution not later than the end of the first business day after the day on which the check is received. The check must be deposited in a separate account.

    (4) If the sheriff receives verification from a financial institution within 15 days after the date of the redemption that all cashier's checks delivered to the sheriff for the redemption have received final settlement, and the sheriff is required to give a certificate of redemption under ORS 18.975, the sheriff shall mail to the claimant by first class mail a certificate of redemption and deliver to the certificate holder all amounts paid to the sheriff. If the sheriff is not required to give a certificate of redemption under ORS 18.975, the sheriff shall give the person tendering the amounts a receipt for the funds in lieu of a certificate of redemption, and shall deliver a certificate of redemption and the amounts paid to the sheriff only as provided in ORS 18.978 after a final decision by the court.

    (5) If the sheriff does not receive verification from a financial institution within 15 days after the checks are deposited that all cashier's checks delivered to the sheriff have received final settlement, the redemption is void and the sheriff shall return to the claimant any cash tendered by the claimant and any amounts received for cashier's checks for which final settlement was received, less any bank charges incurred for cashier's checks and any other amount allowed by law.

    (6) As used in this section:

        (a) “Cashier's check” has the meaning given that term in ORS 73.0104.

        (b) “Financial institution” has the meaning given that term in ORS 706.008.