Liability for creditor claims and statutory allowances. (1) A transferors estate may enforce a liability against property transferred at the death of the transferor by a transfer on death deed to the extent that the probate estate of the transferor is insufficient to satisfy: (a) A claim allowed or established by summary determination or separate action under ORS 114.505 to 114.560 or under ORS chapter 115 against the probate estate; or (b) A statutory allowance to a surviving spouse or child under ORS 114.015. (2) If the same transferor transfers multiple properties by one or more transfer on death deeds, the liability under this section is apportioned among the transferred properties in proportion to the net value of each transferred property at the transferors death. (3) A proceeding must be commenced not later than 18 months after the transferors death to enforce the liability under this section. Note: See note under 93.948.
‹ Prev All Oregon sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.