Oregon Code § 94.853·Enacted ·Last updated March 01, 2026
Statute Text
Payment
of common expenses.
(1) Until the closing of the first timeshare sale the developer shall pay all
common expenses.
(2) After the
closing of the first timeshare sale, the managing entity shall charge an annual
assessment for the payment of common expenses based on the projected annual
budget. The assessment shall be against:
(a) Each owner in
the proportion specified in the timeshare instrument and the developer for the
share allocated to all timeshare periods still owned by the developer at the
time the assessment is made;
(b) As provided
in paragraph (a) of this subsection, except that the developer shall also pay
that portion of the total assessment not paid by any owner, if the developer
guarantees payment of all common expenses of the timeshare plan under the
provisions of the timeshare instrument; or
(c) The developer
for the total assessment if the developer agrees to pay all common expenses of
the timeshare plan under the provisions of the timeshare instrument.
(3) Unless
otherwise specified in the timeshare instrument, past due assessments shall
bear interest at the legal rate. [1983 c.530 §11; 2003 c.14 §39]
Plain English Explanation
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 94.853
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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