Or. Admin. Code § 660-029-0070

Current through Register Vol. 64, No. 1, January 1, 2025

Section 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.

Or. Admin. Code § 660-029-0070

LCDD 3-2015, f. & cert. ef. 4/27/2015

Stat. Auth.: ORS 197.040

Stats. Implemented: ORS 195.300-195.336; 2007 OL, ch. 424