On May 30, 213 the Oregon Senate forwarded to Governor Kitzhaber for signature a bill that would permit local governments to clean up vacant nuisance properties and pass along the cost to the property owner or foreclosing lender in the form of a super-priority lien. House Bill 2662A provides local governments the authority to clean up and secure vacant nuisance property and attach a priority lien which can then be recovered when the property is foreclosed upon and sold. Some cities including Portland and Hillsboro already have similar programs in place. The legislation also imposes requirements upon a foreclosing lender following completion of the foreclosure to post contact information and to register with government offices. A full text of HB 2662A which is awaiting signature by the Governor can be found at https://olis.leg.state.or.us/liz/2015R1/Measures/Overview/HB2662.
Sound Counsel. Smart Business.