(1) If a surviving spouse has apparent title to property to which ORS 112.705 to 112.775 apply, a purchaser for value or a lender taking a security interest in the property takes interest in the property free of any rights of the personal representative or an heir or devisee of the decedent.
(2) If a personal representative or an heir or devisee of the decedent has apparent title to property to which ORS 112.705 to 112.775 apply, a purchaser for value or a lender taking a security interest in the property takes interest in the property free of any rights of the surviving spouse.
(3) A purchaser for value or a lender need not inquire whether a vendor or borrower acted properly.
(4) The proceeds of a sale or creation of a security interest shall be treated in the same manner as the property transferred to the purchaser for value or a lender. [1973 c.205 §6]
Section: Previous 112.695 112.705 112.715 112.725 112.735 112.745 112.755 112.765 112.775 112.800 112.805 112.810 112.815 112.820 112.825 NextLast modified: August 7, 2008