An action affecting an affordable housing covenant may be commenced or intervened in by:
(1) The owner of an interest in the real property burdened by the covenant;
(2) An eligible covenant holder of the benefit of the covenant;
(3) A person that has a third-party right of enforcement; or
(4) A public body, as defined in ORS 174.109, in the jurisdiction of which the real property burdened by the covenant is located. [2007 c.691 §5]
Note: Section 9, chapter 691, Oregon Laws 2007, provides:
Sec. 9. (1) Sections 1 to 6 of this 2007 Act [456.270 to 456.295] apply to a covenant:
(a) Created under sections 1 to 6 of this 2007 Act on or after the effective date of this 2007 Act [January 1, 2008].
(b) Created before the effective date of this 2007 Act if the covenant would have been enforceable under sections 1 to 6 of this 2007 Act had it been created on or after the effective date of this 2007 Act.
(2) Sections 1 to 6 of this 2007 Act do not invalidate an otherwise enforceable affordable housing covenant, as defined in section 2 of this 2007 Act [456.270], created before, on or after the effective date of this 2007 Act. [2007 c.691 §9]
Note: See note under 456.270.
Section: Previous 456.260 456.265 456.270 456.275 456.280 456.285 456.290 456.295 456.305 456.310 456.315 456.320 456.325 456.355 456.360 NextLast modified: August 7, 2008