Oregon Revised Statutes Chapter 18 § 18.395 — Homestead exemption

Homestead exemption. (1)(a) Except as provided in paragraph (b) of this subsection, a homestead is exempt from sale on execution, from the lien of every judgment and from liability in any form for the debts of the owner to the amount in value of $150,000, except as otherwise provided by law. The exemption is effective without the necessity of a claim thereof by the judgment debtor. When two or more members of a household are judgment debtors whose interests in the homestead are subject to sale on execution, the lien of a judgment or liability in any form, their combined exemptions under this section shall not exceed $300,000. (b) A homestead is exempt from sale on execution, from the lien of every judgment and from liability in any form for the debts of the owner arising out of a child support or spousal support obligation or a money award judgment that includes restitution to the amount in value of $40,000, except as otherwise provided by law. The exemption is effective without the necessity of a claim thereof by the judgment debtor. When two or more members of a household are judgment debtors whose interests in the homestead are subject to sale on execution, the lien of a judgment or liability in any form, their combined exemptions under this section shall not exceed $50,000. (c) To qualify for the exemption under paragraph (a) or (b) of this subsection, the homestead must be the actual abode of and occupied by the owner, or the owner’s spouse, parent or child, but the exemption shall not be impaired by: (A) Temporary removal or temporary absence with the intention to reoccupy the same as a homestead; (B) Removal or absence from the property; or (C) The sale of the property. (d)(A) The State Court Administrator shall index the amounts identified as exempt from execution under paragraph (a) of this subsection each year on or before July 1 to reflect increases or decreases in the cost of living for the previous calendar year, based on changes in the Consumer Price Index for All Urban Consumers, West Region (All Items), as published by the Bureau of Labor Statistics of the United States Department of Labor or a successor agency. The State Court Administrator shall publish the adjusted exemption limitations on the Judicial Department website. In adjusting the amounts, the State Court Administrator shall round to the nearest $100, but shall use unrounded adjusted amounts to calculate the amounts of the exemptions during the succeeding year. The new amounts become effective on July 1 of the year in which the State Court Administrator makes the adjustment. (B) The indexing described in subparagraph (A) of this paragraph does not apply to the amount of any exemption specified for a debt that arises out of a child support or spousal support obligation or a money award judgment that includes restitution. (2) The exemption extends to the proceeds derived from selling the homestead in the amount that is applicable under subsection (1)(a) or (b) of this section, if the proceeds are held for a period not exceeding one year and held with the intention to procure another homestead therewith. (3) The exemption period under subsection (1)(c)(B) and (C) of this section is one year from the removal, absence or sale, whichever occurs first. (4) When the owner of a homestead has been granted a discharge in bankruptcy or has conveyed the homestead property, the value thereof, for the purpose of determining a leviable interest in excess of the homestead exemption, is the value on the date of the petition in bankruptcy, whether the value is determined in the bankruptcy proceedings or not, or on the date the conveyance becomes effective, whichever occurs first. However, with respect to judgments not discharged in the bankruptcy, or entered against the owner after discharge, the value on the effective date of conveyance is controlling. (5) Except as provided in subsection (7) of this section, a homestead that is the actual abode of and occupied by the judgment debtor, or that is the actual abode of and occupied by a spouse, dependent parent or dependent child of the judgment debtor, may not be sold on execution to satisfy a judgment that at the time of entry does not exceed $3,000. However, such judgment remains a lien upon the real property, and the property may be sold on execution: (a) At any time after the sale of the property by the judgment debtor; and (b) At any time after the property is no longer the actual abode of and occupied by the judgment debtor or the spouse, dependent parent or dependent child of the judgment debtor. (6) The limitation on execution sales imposed by subsection (5) of this section is not impaired by temporary removal or temporary absence with the intention to reoccupy the property as a homestead. (7) The limitation on execution sales imposed by subsection (5) of this section does not apply if two or more judgments are owing to a sing