§ 407.295 — Transfer to spouse; notice to department; notice of delinquent payment

Oregon § 407.295

• Jurisdiction: Oregon
• Vol.: 10
• Title 33: Privileges and Benefits of Veterans and Service Personnel
• Ch. 407: Veterans Loans

Text

When an ownership interest or possession of a home or farm securing a loan received under this chapter is transferred to the spouse or former spouse of the original borrower as a result of any judicial order or judgment, the Department of Veterans’ Affairs shall be notified in writing of the transfer by the transferee not later than 30 days after the transfer occurs. If the original borrower remains obligated under the order or judgment to make the payments on the principal and interest of the loan, the department shall notify the transferee when any such loan payment is not received by the 30th day after the payment is due.

Legislative History

1983 c.420 §5; 2003 c.576 §441; 2005 c.625 §34