Chapter 100 — Chapter 100

ORS 100.635 Filing with commissioner; fee. (1) Except as provided by ORS 100.660 and 100.665, prior to negotiating within this state for the sale of a condominium unit located in another state, or prior to the sale of any condominium unit located within this state, the developer shall file with the Real Estate Commissioner, in any form prescribed by the commissioner

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ORS 100.640 Filing; required documents and information. (1) The following documents and information must be submitted to the Real Estate Commissioner as part of the filing required under ORS 100.635

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ORS 100.645 Filing information to be kept current. (1) The information required by ORS 100.635 must be kept current by the developer. Any material change in the information furnished to the Real Estate Commissioner shall be reported by the developer within 10 days after the change occurs. The report of material changes must

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ORS 100.650 Service of process on nonresident developer; consent for service on commissioner; contents of consent; records of service on commissioner. (1) Every nonresident developer, at the time of filing the information required by ORS 100.635, shall also file with the Real Estate Commissioner an irrevocable consent that if, in any suit or action commenced against the nonresident developer in this state arising out of a violation of any provision of this chapter, personal service of summons or process upon the nonresident developer cannot be made in this state after the exercise of due diligence, a valid service may thereupon be made upon the nonresident developer by service on the commissioner

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ORS 100.655 Disclosure statement; contents; disclosure statement from other state; declarant liability limited. (1) The disclosure statement submitted to the Real Estate Commissioner as part of a filing under ORS 100.635 must contain the following information

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ORS 100.658 Limited residential condominium filing. (1) A declarant that proposes to submit real property to the condominium form of ownership under this chapter and does not intend to sell units in the condominium for which the developer must file a disclosure statement under ORS 100.635 may request approval of the declaration and bylaws or a supplemental declaration by

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ORS 100.660 Nonresidential condominium or security filing; contents. (1) As used in this section, “nonresidential condominium” means a condominium in which all units are available exclusively for nonresidential uses or all units are to be offered for sale as a security under ORS 59.005 to 59.505

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ORS 100.665 Exemption to certain disclosure and notice requirements. A vendor under a land sale contract, a mortgagee of a mortgage or a beneficiary of a trust deed who becomes a developer by reason of acquiring a unit or units in a condominium through foreclosure of its lien or acceptance of a deed in lieu thereof, is not required to submit a filing to the Real Estate Commissioner under ORS 100.635, or to distribute a disclosure statement under ORS 100.705 or provide the notice to purchaser required under ORS 100.740 if the vendor, mortgagee or beneficiary sells, in a single sale, all of the units so acquired to a developer who agrees to comply with the provisions of ORS 100.635 and 100.705 before negotiating a sale of the unit or units to others. [1989 c.595 §46]

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ORS 100.668 Documents and information included with filing. (1) Submission of any document to the Real Estate Commissioner for approval under ORS 100.110, 100.119, 100.135, 100.410, 100.411, 100.413, 100.658 or 100.660 or any other provision of this chapter must include

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ORS 100.670 Fees; hourly rate; deposit. (1) A developer or other person required to file materials or information with the Real Estate Commissioner under ORS 100.005 to 100.910 shall pay to the commissioner a fee as required under subsections (2) and (3) of this section for the review, approval and handling of the filings by the commissioner at the time of the initial filing with the commissioner

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ORS 100.675 Inventory of filing; review; approval; timelines. (1) Within five working days after receipt of the prescribed filing fee under ORS 100.670 and information filed under ORS 100.635, 100.660 or 100.668, the Real Estate Commissioner shall inventory the filing and determine whether the filing includes all required information and documentation and designate the filing as

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ORS 100.680 Escrow of unit sales agreement. (1) Unless the developer of a condominium has complied with subsection (2) of this section, the developer and a purchaser may not enter into a unit sales agreement before the recording of the declaration or supplemental declaration and plat under ORS 100.115 or, if the condominium is located outside of this state, before the condominium has been created under the laws of the jurisdiction within which the condominium is located

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ORS 100.685 Contents of unit sales agreement. A unit sales agreement must contain

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ORS 100.700 Inspection of condominium; report in disclosure statement. The Real Estate Commissioner may make an on-site inspection of any condominium and require a report of the commissioner’s findings from such inspection to be included in the disclosure statement for use in the sale of the condominium. [Formerly 94.359]

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ORS 100.705 Sale prohibited prior to issuance of disclosure statement; exception; distribution; use of disclosure statement. (1) Except as provided in ORS 100.665, a developer, or an agent of the developer may not enter into a unit sales agreement prior to the issuance of the disclosure statement for the condominium

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ORS 100.710 Inspection deposit. When an on-site inspection under ORS 100.700 is to be made of a condominium situated in the State of Oregon, or situated outside the state which will be offered for sale within this state, the Real Estate Commissioner, in addition to the fee provided in ORS 100.670, may require the developer to advance a deposit. Such deposits shall not exceed $200 per day for making the on-site inspection. Any unexpended portion of the deposit shall be refunded to the developer. [Formerly 94.391]

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ORS 100.720 Conditions prerequisite to sale. (1) No condominium unit shall be sold by a developer by means of a land sale contract unless a collection escrow is established within this state with a person or firm authorized to receive escrows under the laws of this state and all of the following are deposited in the escrow

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ORS 100.725 Documents prerequisite to execution of sale agreement and conveyance of unit. (1) Before the unit sales agreement is fully executed by all parties, the developer shall deliver to the purchaser a copy of the declaration and bylaws of the condominium and any supplements and amendments thereto affecting the unit

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ORS 100.730 Cancellation of sale of unit; notice to seller; return of payments and reconveyance; extinguishment of encumbrances; waiver prohibited; disclaimer of notice; applicability. (1) A purchaser of a condominium unit may cancel for any reason the sale of a condominium unit from a developer or any contract, agreement or evidence of indebtedness associated with the sale of the condominium unit, within five business days (excluding Saturdays and holidays) after the date on which the latest of the following events occurs

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ORS 100.735 Waiver of right to cancel. (1) A purchaser may waive the right to cancellation granted under ORS 100.730 (1) after the unit sales agreement is fully executed by all parties. The waiver shall be in writing and dated and shall include a notice that by signing such statement the purchaser waives only the right of cancellation granted under ORS 100.730 (1) and no other right

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ORS 100.740 Notice to purchaser of cancellation rights; form. (1) Subject to ORS 100.730 (8), a unit sales agreement shall contain, either upon the first page or upon a separate sheet attached to such first page, the following notice in at least 12-point type that is all capitals or boldface

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ORS 100.745 Escrow documents required of successor to vendor’s interest. (1) A purchaser of a vendor’s interest or a holder of an encumbrance secured by a vendor’s interest in an installment contract of sale for which an escrow has been established pursuant to ORS 100.720 shall deposit in the escrow any instruments necessary to assure that the contract vendee can obtain the legal title bargained for upon compliance with the terms and conditions of the contract

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ORS 100.750 Inspection of records. Records of the sale of any condominium unit shall be subject to inspection by the Real Estate Commissioner and shall be made available to the commissioner in Oregon at the request of the commissioner. [Formerly 94.437]

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ORS 100.770 Fraud and deceit prohibited. No developer or agent of a developer shall, in connection with the sale of a condominium unit, directly or indirectly

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ORS 100.775 False or misleading advertising prohibited; liability. It shall be unlawful for any developer or agent of a developer, who with intent, directly or indirectly, to sell a condominium unit, to authorize, use, direct or aid in the publication, distribution or circularization of any advertisement, radio broadcast or telecast concerning the condominium, which contains any statement, pictorial representation or sketch which is false or misleading. Nothing in this section shall be construed to hold the publisher or employee of any newspaper, any job printer, broadcaster or telecaster liable for any publication referred to in this chapter unless the publisher, employee, printer, broadcaster or telecaster has actual knowledge of the falsity thereof or has an interest in the condominium advertised or the sale thereof. [Formerly 94.454]

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ORS 100.780 Waiver of legal rights void. Any condition, stipulation or provision in any sales contract or lease, or in any other legal document, binding any purchaser or lessee to waive any legal rights under this chapter against the developer shall be deemed to be contrary to public policy and void. [Formerly 94.460]

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ORS 100.785 Blanket encumbrance prohibited. (1) Subject to the provisions of ORS 100.720, a condominium unit may not be conveyed by a developer subject to a blanket encumbrance

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ORS 100.900 Civil penalty. (1) In addition to any other penalties provided by law, the Real Estate Commissioner may impose a civil penalty for violation of the provisions of ORS 100.015, 100.635 to 100.730 and 100.740 to 100.780 or any of the rules adopted thereunder. No civil penalty shall exceed $1,000 per violation

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ORS 100.905 Cease and desist order; injunction. (1) Whenever the Real Estate Commissioner finds that any developer or other person is violating any of the provisions of ORS 100.015, 100.635 to 100.730 and 100.740 to 100.780 or the rules adopted thereunder or of the alternative requirements of the commissioner prescribed pursuant to ORS 100.720 (3), the commissioner may order the persons to desist and refrain from violating such provisions or requirements, or from the further sale of condominium units

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ORS 100.910 Use of fees. The moneys received under this chapter shall be paid into the State Treasury and placed to the credit of the General Fund in the Oregon Real Estate Department Account. [Formerly 94.480]

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ORS 100.920 Changes or actions that require approval or consent of mortgagee. (1) Subject to subsection (3) of this section, when a change to the declaration, bylaws or other governing document or another action to be taken by the board of directors, association or unit owners requires approval or consent of a mortgagee, if the mortgagee receives a request to approve or consent to the change or action, the mortgagee is deemed to have approved or consented to the request unless the mortgagee delivers or posts a negative response to the requesting party within 60 days after receipt of the request

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ORS 100.990 Criminal penalties. Subject to ORS 153.022, any person who violates any of the provisions of ORS 100.015, 100.635 to 100.730 and 100.740 to 100.780 or any rules adopted thereunder or any alternative requirements of the Real Estate Commissioner prescribed pursuant to ORS 100.720 (3), commits a Class C felony. [Formerly 94.991; 1999 c.1051 §300; 2011 c.597 §158]

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