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Army Veteran Owned | Expert Surety Bonds Since 2004
Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
This is not an appeal bond. It is posted by the judgment creditor so the sheriff will levy on and sell a debtor's personal property, and the amount is set by the sheriff's estimate of the property's value, not by the size of your judgment. A surety bond lets you meet the requirement and keep the levy moving without putting up a letter of credit.
Under ORS 18.886, an Oregon sheriff may require a judgment creditor to file a bond or irrevocable letter of credit indemnifying the sheriff against loss before levying on personal property. The sheriff can ask for it when a third party claims an interest in the property, when the property is perishable, or when ownership is in reasonable doubt or encumbrances are asserted. The bond must be for double the value of the property to be levied on, as estimated by the sheriff.
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When a judgment creditor sends a writ of execution to a county sheriff to seize and sell a debtor's personal property, the sheriff takes on the risk of seizing something that belongs to someone else. ORS 18.886 lets the sheriff shift that risk back to the creditor. Before levying on personal property, the sheriff may require the creditor to file a good and sufficient bond, or an irrevocable letter of credit, indemnifying the sheriff against any loss caused by levying on or selling the property. The sheriff is the party protected by the bond.
The sheriff may require the bond if the sheriff has identified a specific person other than the judgment debtor who claims an interest in the property, or if the property is perishable. The sheriff may also require it when there is reasonable doubt about who owns the property or when encumbrances are asserted against it.
If the only issue is doubt about ownership or asserted encumbrances, the creditor can head off the bond by giving the sheriff a title document or report issued by a state or federal agency showing the debtor as sole owner. Where the property has no title document, a record from the UCC filing office under ORS 79.0523(4) showing no financing statement or lien in effect for the property serves the same purpose.
The sheriff may not require this bond at all when the writ of execution directs the sale or delivery of specific personal property under the terms of the judgment.
ORS 18.886(4) sets the amount at double the value of the property to be levied on, as estimated by the sheriff. There is no fixed figure. Get the sheriff's estimate before applying so the bond is written for the right amount.
ORS 18.890 describes a different bond. That one is filed by the judgment debtor so the debtor can keep and use seized tangible personal property until the sale. It is also set at twice the estimated value, but it protects the sheriff against the debtor failing to deliver the property at the time and place of sale.
The bond is filed with the sheriff of the county carrying out the writ. Confirm with that sheriff's civil unit the required bond wording, the estimated value it is using, and how the bond should be delivered before the bond is issued.
No. It is posted by the judgment creditor, the party trying to collect, so the sheriff will levy on and sell the debtor's personal property. It protects the sheriff, not the court or the debtor.
ORS 18.886(4) sets it at double the value of the property to be levied on, as estimated by the sheriff. The amount of your judgment does not control it.
When a specific person other than the debtor claims an interest in the property, when the property is perishable, or when ownership is in reasonable doubt or encumbrances are asserted.
On ownership or encumbrance questions, yes, by giving the sheriff a government title document showing the debtor as sole owner, or a UCC filing office record showing no lien in effect. The bond also cannot be required when the writ directs sale or delivery of specific property named in the judgment.
Yes. ORS 18.886 accepts a good and sufficient bond or an irrevocable letter of credit for the same amount.
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