Cancellation and forfeiture on default in payments. If any installment of the purchase price of land, principal or interest, remains unpaid for one year after the same becomes due, the certificate issued under ORS 273.285 shall be canceled by order of the Department of State Lands. All payments thereon shall be forfeited and the land considered vacant and subject to sale as if it had not been previously contracted to be sold. [Formerly 273.130]

ORS 273.290 — under Chapter 273.