Or. Admin. R. 660-029-0070 - Conveyance of TDC Ownership
(1)
Prior to conveying ownership of a TDC, the owner of the TDC must submit notice
of the conveyance to the department, using an online form provided by the
department.
(2) On receipt of a
notice of conveyance, the department shall acquire verification of the
conveyance from the previous owner.
(3) Conveyance of a TDC is a conveyance for
the purposes of Oregon Laws 2007, chapter 424, subsection 11(6),. Upon transfer
of the TDC to a person other than the spouse of the owner who obtained the
authorization or the trustee of a revocable trust in which the owner who
obtained the authorization is the settlor, the person receiving the TDC must
use the TDC within 10 years of the conveyance. If the M49 property was conveyed
prior to creation of the TDCs, the owner must use the TDCs within 10 years of
the first conveyance.
Notes
Stat. Auth.: ORS 197.040
Stats. Implemented: ORS 195.300-195.336; 2007 OL, ch. 424
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