(1) After a warrant has been recorded under ORS 314.430, the lien imposed by ORS 314.417 shall be subordinate to:
(a) Any interest in real property to the same extent that a judgment recorded in the County Clerk Lien Record under ORS 18.152 at the same time the warrant was recorded would be subordinate to the interest; and
(b) Any interest in personal property to the same extent that a security agreement filed under the Uniform Commercial Code at the same time the warrant was filed would be subordinate to the interest.
(2) After a warrant has been recorded under ORS 314.430, the lien imposed by ORS 314.417 shall not be valid as to a purchaser, security interest holder or lienholder in a sale, security agreement or lien arising out of the following types of property or property transactions unless the purchaser, security interest holder or lienholder had actual knowledge of the lien:
(a) Securities as defined in ORS 78.1020;
(b) Retail purchases in the ordinary course of business;
(c) Casual sales of personal property;
(d) Attorney’s liens;
(e) Insurance contract loans; or
(f) Passbook loans. [1971 c.215 §§6,7; 1987 c.586 §41; 1997 c.325 §36; 2003 c.576 §230]
Section: Previous 314.410 314.412 314.415 314.417 314.419 314.420 314.421 314.423 314.425 314.430 314.432 314.434 314.435 314.440 314.445 NextLast modified: August 7, 2008