A subcontractor files a lien claim for $18,500 on a residential project in Oregon. If the lien is foreclosed and the property sells for $15,000, how much can the subcontractor recover?
Correct Answer
D) $15,000 minus foreclosure costs
Under ORS 87, lien claimants can only recover up to the sale proceeds minus foreclosure costs, not the full lien amount if the sale proceeds are insufficient.
Why This Is the Correct Answer
Under ORS 87, lien claimants can only recover up to the sale proceeds minus foreclosure costs, not the full lien amount if the sale proceeds are insufficient.
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