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I • • i irrevocable, and when the trust becomes irrevocable, "only th trustee is the owner." ORS 195.300(18)(c). Although the beneficiaries had a vested interest in the property, the beneficiaries were not "owners" until the conveyance from West Coast Trust by warranty deed on June 14, 2010. A beneficiary is not legally obligated to accept trust assets even with vested interests. The form of vesting does not impact the titled ownership interest. A vested interest is not ownership of the property or title. Applicant argues that the June 14, 2010 deed "unified ownership interests in the Beneficiary" and should not be considered a true conveyance. The Applicant suggests that the warranty deed did not "convey the Property" because the beneficiaries already had an ownership interest in the subject property. The plain meaning of the text of Measure 49 and the Oregon Uniform Trust Code forces the conclusion that upon the death of the settlor (original claimant), the Trustee became the only owner and the beneficiaries became holders of vested interests. The beneficiaries did not have ownership until the conveyance of titled ownership by warranty deed on June 14, 2010. Further, the beneficiaries were notified that the ten-year development timeline was triggered by the Warranty Deed in June, 2010, and again in September, 2015, when Gretchen L. Ryne transferred her ownership interest to the Gretchen Lee Ryne Revocable Living trust that stated that the ten year development period had already begun to run based upon an earlier transfer. The entitlement to prosecute the claim passed to West Coast Trust upon the Claimant's death. The Trustee conveyed ownership of the property to Gretchen L. Rhyne and Justine C. Fogarty on June 14, 2010. This conveyance of titled ownership initiated the ten-year timeline for development. Because the ten-year timeline started on June 14, 2010, the Measure 49 claim expired on June 14, 2020, and on that date, there was no dwelling legally built on the Subject property. This criterion is not met. Applicant correctly states that if the trust had not existed, the right to prosecute the Measure 49 claim and establish a homesite on the subject property would have passed to the living children of Mary Ruhl Dodds without triggering the ten-year development period. But, the trust did exist, and that right passed to the trustee when the trust became irrevocable. 19. The Claimant's qualification for one home site is subject to the following term: 13. To the extent that any law, order, deed, agreement or other legally enforceable public or private requirement provides that the subject property may not be used without a permit, license or other form of authorization or consent, 14 Case No. AR 21-038 — ORDER Fogarty