Title 10, Property Rights and Transactions

(1) The following documents and information must be submitted to the Real Estate Commissioner as part of the filing required under ORS 100.635: (a) A copy of the proposed or recorded declaration or supplemental declaration of condominium ownership drawn in conformance with ORS 10…

(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: (a) …

(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 viola…

(1) The disclosure statement submitted to the Real Estate Commissioner as part of a filing under ORS 100.635 must contain the following information: (a) The name and address of the condominium, and the name, address and telephone number of the developer. (b) A general narrative d…

(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 an…

(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. (2) A declarant that proposes to submit real proper…

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 fil…

(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: (a) Any form prescribed and furnished by the commissioner for submis…

(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 fili…

(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 do…

(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 condominiu…

A unit sales agreement must contain: (1) The unit designation; (2) The full amount of the purchase price, including the amount and form of earnest money paid by the purchaser; (3) If required under ORS 100.680, the name and address of the escrow agent to hold the purchaser’s fund…

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]

(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. (2) A copy of the disclosure statement for a condominium must be given to the prospect…

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 t…

(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:…

(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. (2) When the unit sales agreement is fully exe…

(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) af…

(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 righ…

(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: ________________________________________________…

(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 contrac…

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] PROHIBITED ACTS

No developer or agent of a developer shall, in connection with the sale of a condominium unit, directly or indirectly: (1) Employ any device, scheme or artifice to defraud; (2) Make any untrue statement of a material fact or fail to state a material fact necessary to make the sta…

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 t…

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]

(1) Subject to the provisions of ORS 100.720, a condominium unit may not be conveyed by a developer subject to a blanket encumbrance. (2) Notwithstanding subsection (1) of this section, the developer shall conform to an alternative requirement or method which the Real Estate Comm…

(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 p…

(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 pursua…

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] MISCELLANEOUS

(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…

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 …