ORS § 90.367

(5) If the
landlord provides written evidence from a lender or trustee that the property
is no longer in foreclosure, the landlord may require the tenant to restore the
security deposit or prepaid rent to the amount required prior to the tenant’s
application of the security deposit or prepaid rent. The landlord shall allow
the tenant at least two months to restore the security deposit or prepaid rent.

(6)(a) A tenant
with a fixed term tenancy who receives actual notice that the property that is
the subject of the tenant’s rental agreement with a landlord is in foreclosure
may terminate the tenancy by delivering a written notice to the landlord
specifying that the tenant has received notice that the property is in
foreclosure and that the tenancy will terminate upon a designated date that is
not less than 60 days after delivery of the notice unless within 30 days the
landlord provides the tenant with written evidence from a lender or trustee
that the property is no longer in foreclosure or with written evidence that a receiver
has been appointed by a court of competent jurisdiction to oversee the
operation of the property.

(b) If the
landlord does not provide the tenant with written evidence as described in
paragraph (a) of this subsection within the 30-day period after delivery of the
notice of termination, the tenancy terminates as provided in the notice. [2009
c.510 §4; 2011 c.42 §7a; 2013 c.294 §10]