Oregon Code § 456.776·Enacted ·Last updated March 01, 2026
Statute Text
Applicability; interpretation; rules.
(1) ORS 456.766 to 456.828 do not apply to or restrict the acquisition of
property by:
(a) A government
that acquires the participating property by eminent domain or a negotiated
purchase in lieu of eminent domain.
(b) A purchaser
of the participating property in a foreclosure sale that terminates the
affordability restrictions.
(c) A purchaser
of the participating property by a deed in lieu of foreclosure provided that
the contract restrictions are subordinate to the purchasers interest eligible
for foreclosure and a notice of the deed in lieu is provided to the Housing and
Community Services Department by the purchaser or property owner at least 30
days prior to the execution of the deed in lieu.
(2) ORS 456.766
to 456.828 may not be interpreted to allow a property owner to terminate or
breach a contract or to limit the rights of any tenant of a participating
property or any other person who may enforce an affordability restriction
against the property owner.
(3) ORS 456.766
to 456.828 do not require any local government or the department to purchase or
condemn any property or to maintain the affordability restrictions of any
property.
(4) Except as
required by contract and ORS 456.766 to 456.828, a property owner may not take
any action before the termination date that would materially interfere with a
qualified purchasers ability to continue maintaining the participating
property as publicly supported housing.
(5) The
termination date may not occur, and the publicly supported housing remains
subject to affordability restrictions, until the property is eligible for
withdrawal from publicly supported housing under ORS 456.814 (4) and any
contract requirements for the withdrawal of the property.
(6) The
department shall adopt rules to implement ORS 456.766 to 456.828. [Formerly
456.258]