Oregon Revised Statutes Chapter 114 § 114.555 — Transfer of interest of decedent in property described in affidavit

Transfer of interest of decedent in property described in affidavit. (1)(a) If a petition to appoint a personal representative is not filed within four months after the filing of a simple estate affidavit, then after the completion of the four-month period described in ORS 114.540, after all unsecured creditors of the estate have been paid to the extent of the property of the estate and before the completion of the two-year period established in ORS 114.550, the affiant shall transfer the interest of the decedent in remaining property or proceeds of property described in the affidavit to the person or persons shown by the affidavit to be entitled to the property, and any other claims against the property are barred, except: (A) As otherwise provided in this section and ORS 114.540, 114.542, 114.545 and 114.550; and (B) For the purposes of a surviving spouse’s claim for an elective share in the manner provided by ORS 114.600 to 114.725. (b) Notwithstanding paragraph (a) of this subsection, if a petition for summary review has been filed under ORS 114.550, the affiant may not transfer the interest of the decedent in the property described in the affidavit until after all claims allowed in the summary review proceeding are paid to the extent of the property of the estate. (2) Property conveyed by an affiant under this section is subject to liens and encumbrances against the decedent or the estate of the decedent. Property conveyed by an affiant under this section is subject to the rights of creditors of the decedent or the estate of the decedent until the expiration of the two-year period established in ORS 114.550. (3) When the affiant transfers an interest in real property under this section, the affiant shall cause to be recorded in the deed records of the county in which the real property is situated a bargain and sale deed conveying the property to the person entitled to the property, executed in the manner required by ORS chapter 93. (4) When the affiant transfers an interest in a manufactured structure as defined in ORS 446.561 belonging to a decedent and assessed as personal property under this section, the affiant shall file with the Department of Consumer and Business Services the necessary information for recording the successor’s interest in the manufactured structure on an ownership document. (5) In relation to real or personal property that escheats, the affiant shall comply with the requirements imposed upon a personal representative by ORS 116.205. [1973 c.710 §5; 1977 c.239 §4; 1989 c.228 §10; 2009 c.574 §21; 2019 c.165 §19; 2023 c.17 §18; 2025 c.463 §7]