(2) The seller’s notice must be on a form approved by the Department of Consumer and Business Services. Information required by the form must include, but need not be limited to:

(a) The identities of the seller and the purchaser;

(b) Any change in the security interest in the structure resulting from the transaction; and

(c) For each holder of an unreleased security interest:

(A) A signed statement recorded on the ownership document for the manufactured structure acknowledging that the interest holder is aware of the sale; or

(B) Documentation satisfactory to the department showing that acknowledgment by the holder was requested but the holder has not responded.

(3) The seller shall submit the following with the notice:

(a) The ownership document or other document evidencing ownership of the manufactured structure.

(b) A copy of the bill of sale.

(c) Documentation satisfactory to the county assessor that all taxes, special assessments and other charges placed on the tax roll that have been certified for collection under ORS 311.105 and 311.110, all taxes in homestead deferral as described under ORS 311.666 to 311.701 and all delinquent taxes and special assessments for past years are paid or have been canceled.

(4) The county assessor shall forward the information contained in the notice and the ownership document or other document evidencing ownership to the department. The department shall update the ownership document for the manufactured structure or, if no ownership document exists, enter the information in the department’s records and issue an ownership document for the structure.

(5) The department shall deliver an ownership document updated or issued under subsection (4) of this section to the holder of the earliest perfected unreleased security interest in the manufactured structure or, if none, to the owner of the structure. The department shall also send a copy of the ownership document to the county assessor.

(6) A transfer of ownership of a manufactured structure by operation of law is a sale of the manufactured structure for purposes of this section.

(7) Notice given to a county assessor under subsection (1) of this section is not an instrument of conveyance.

(8) If a seller does not give a notice of sale to the county assessor within 30 days after closing of the sale of a manufactured structure, a buyer may submit a notice of sale to the assessor if the notice is accompanied by proof of sale acceptable to the department as provided by rule. Upon receipt of a notice of sale and acceptable proof of sale, the assessor shall forward the information to the department as provided in subsection (4) of this section. Submission of a notice of sale by a buyer does not excuse a seller from civil penalty under ORS 455.895 for a violation of subsection (1) of this section. [2003 c.655 §23; 2007 c.502 §4]

Note: See note under 446.561.