PRIA Logo™
OregonHB 20892025 Regular SessionHouseWALLET

Relating to surpluses from the disposition of foreclosed property; and prescribing an effective date.

Sponsored By: Sponsor information unavailable

Became Law

Your PRIA Score

Score Hidden

Personalized for You

How does this bill affect your finances?

Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.

Free to start

Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

How former owners get surplus money

The law defines surplus as the property’s value minus allowed costs. The county must decide the surplus within 60 days after it deposits the sale money or sets the value. Sale money must sit in a separate interest‑bearing account, and the interest is added to the surplus. Counties can deduct listed costs, including taxes and interest, legal and filing fees, notices, staff time, appraisals, commissions, auction fees, and other reasonable costs, and must give you an itemized list. Within 60 days after a claim could arise, the county must send a surplus notice to you and key agencies, and publish details online. The county must report and deliver unclaimed surplus to the State Treasurer within 30 days after the surplus is set. You file your claim with the State Treasurer under the unclaimed property program. Eligible claimants include the former owner and their estate, heirs, successors, or devisees; creditors and voluntary assignees are excluded. An heir who lived in the home as a primary residence for more than one year is presumed to receive the surplus unless others object. These rules apply to cases where the redemption‑expiration notice went out on or after May 25, 2023. If notice went out earlier, the county must send the new surplus notice within 60 days after the law’s effective date.

Rules for selling county-foreclosed homes

If the foreclosed place was a primary home in a residential zone, the county must list it with a private real estate broker. If the latest tax statement shows a real market value over $250,000, the county must get an outside licensed appraisal. The list price must be the highest price the property can reasonably sell for. If a broker cannot sell after three tries or within 12 months, the county must hold a public high‑bid auction. The auction must be advertised in a multiple listing service for at least 30 days, can use real‑time online bidding, and must start at two‑thirds of fair market value. A sale only closes if the high bid covers taxes and allowed costs. A private auction operator may take a fee capped at 3% of the surplus. If the first auction fails, the county must run a second auction that starts at the amount of taxes and allowed costs. If that fails, the county may forgive the taxes and costs and keep the property or transfer it to a nonprofit. When the county keeps or gives a property to a nonprofit, it must get an independent appraisal. Counties can hire brokers, appraisers, or auctioneers for these tasks without using the usual public contracting process.

Stronger notices to homeowners in foreclosure

Counties must do more to find and notify owners in tax foreclosure. They must search records and databases for a current address. They must publish the list once in a local paper and mail notice to the deed-record address, or personally serve you. At least one year before redemption ends, counties must send certified and regular mail, and post the notice online. Notices must show the exact unpaid taxes and fees, key dates, your rights (including surplus rights), and where to get legal and tax help.

Public posting and agency alerts on foreclosures

The State Treasury posts county foreclosure and surplus notices on its website. Counties must also alert the Department of Revenue, the Department of Justice, and the city where the property sits when a foreclosure starts and when one year remains before redemption ends. This makes cases easier to track and helps agencies reach eligible owners.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 94 • No: 0

Senate vote • 6/20/2025

Third reading. Carried by Taylor. Passed.

Yes: 28 • No: 0

Senate vote • 6/16/2025

Finance and Revenue: Heard and Reported Out

Yes: 5 • No: 0

House vote • 6/10/2025

Third reading. Carried by Levy E. Passed.

Yes: 54 • No: 0

House vote • 6/3/2025

Revenue: Heard and Reported Out with Amendments

Yes: 7 • No: 0

Actions Timeline

  1. Chapter 475, (2025 Laws): Effective date September 26, 2025.

    8/7/2025House

  2. Governor signed.

    7/17/2025House

  3. President signed.

    6/24/2025Senate

  4. Speaker signed.

    6/23/2025House

  5. Third reading. Carried by Taylor. Passed.

    6/20/2025Senate

  6. Second reading.

    6/19/2025Senate

  7. Recommendation: Do pass the A-Eng. bill.

    6/19/2025Senate

  8. Public Hearing and Work Session held.

    6/16/2025Senate

  9. Referred to Finance and Revenue.

    6/11/2025Senate

  10. First reading. Referred to President's desk.

    6/11/2025Senate

  11. Third reading. Carried by Levy E. Passed.

    6/10/2025House

  12. Second reading.

    6/9/2025House

  13. Recommendation: Do pass with amendments and be printed A-Engrossed.

    6/6/2025House

  14. Work Session held.

    6/3/2025House

  15. Public Hearing held.

    4/8/2025House

  16. Public Hearing held.

    1/30/2025House

  17. Referred to Revenue.

    1/17/2025House

  18. First reading. Referred to Speaker's desk.

    1/13/2025House

Bill Text

  • Enrolled

    6/20/2025

    PDF

  • A-Engrossed

    6/6/2025

    PDF

  • House Amendments to Introduced

    6/6/2025

    PDF

  • HREV Amendment -8 (Adopted)

    6/3/2025

    PDF

  • HREV Amendment -6 (Proposed)

    5/29/2025

    PDF

  • HREV Amendment -6 (Proposed)

    5/27/2025

    PDF

  • HREV Amendment -5 (Proposed)

    5/20/2025

    PDF

  • HREV Amendment -2 (Proposed)

    4/8/2025

    PDF

  • HREV Amendment -3 (Proposed)

    4/8/2025

    PDF

  • Introduced

    1/10/2025

    PDF

Related Bills

Back to State Legislation