Law: Oregon Sudivisions

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Oregon Subdivision and Series Partition Control Law
Regulates the marketing in Oregon of subdivided or series partitioned property located in or outside of Oregon. It is administered by the Real Estate Agency. It requires the Agency be provided with information and then issue a certificate of exemption or a public report before the property can be sold
How are sudvided lands defined by law in Oregon?
Improved or unimproved land divided or created into interests, or sold under an agreement to be subsequently divided or created into interests for the purpose of sale or lease, whether in the immediate or in the future, into 11 or more undivided interests, or four or more other interests
What does the Oregon Subdivision and Series Partition Control Law not apply to?
  • sale or lease of apartments or similar space in an apartment building
  • cemetery lots, parcels or units in Oreogn
  • condominiums or timeshares
  • land in Oregon zoned for and limited to use to nonresidential industrial or commercial purposes
  • mobile home or manufactured dwelling parks
  • land in Oregon sold by lots or parcels of at least 160 acres
Also, does not apply to land divided in accord with a comprehensive plan
Land Conservation and Development Commission (LCDC)
Administers statewide land use planning in Oregon. Evaluates and acknowledges local comprehensive plans to ensure compliance with statewide land use planning goals and guidelines. Goals of LCDC include:
  • strenthening citizen involvement , land use planning and the state economy
  • assuring adequancy of agricultural lands, forest lands, open spaces, natural resources, air and water quality, recreational areas, housing, transportation, and public facilities
  • effectively palnning for coastal shorelines, beaches and dunes, etc.
Full-service subdivision
Has water, power, sewer, roads, and other improvements completed or has adequate bonding arranged to complete any unfinished improvements prior to sale
Certificate of exemption
A subdivider may request a certificate of exemption prior to beginning sales. Must be accepted, approved, adn recorded, and a full service subdivision.
Public report
Any property subject to the law and not eligible for a certificate of exemption cannot be sold until the Agency issues a public report. It contains information regarding:
  • the condition of the title to the property
  • the uses to which the land can be put
  • provisions limiting its uses
  • any other information neccessary as determined by the Commissioner
Notice of Intention
Must filed with the Agency to obtain a public report. It will provide certain basic information such as the filer's name, and business and residence addresses and the names and bsiness addresses of all real estate licensees and all other persons selling or leasng interests in the subdivision or partition. Submission must also include
  • statement describing land
  • statement on condition of title and provisions made for legal access, sewage disposal, and public utilities
  • a statement of the use or uses that will be offered
  • a statement of any provisions that would limit the use or occupancy of the interests in the subdivision or partition
Land sales contract
Buyer moves in and makes payments over time. Title transfered when the debt is paid off
Is a collection escrow required for land sales contracts?
Yes
Right to rescind
In any transaction subject to the law, the purchaser must at the time of signing the first sales contract be given notice of a right to rescind the purchase agreement within three business days from the date of signing. He need not give any reason, and the seller cannot have him waive his right of rescission
Notice of cancellation
Must be written and should be sent to the address of the sellor or his agent. If sent by certified mail with a return receipt requiested, it will be effective the date it is properly mailed. Upon receipt of the notice, the seller must immediately return the purchaser's money, after the check clears the bank
When does a purchaser have no right to recsind?
  • if he is purchasing a lot with a residential dwelling already on it
  • if he has contracted with the seller to have a residential dwelling built on the lot
  • if he derives a substantial portion of his income from the development or purchase and sale of real property
Disclosure statement (OR condominiums)
Contains material information regarding the condominium that will have to be provided to every unit purchaser. In most cases a developer or agent of a developer may enter into a unit sales agreement only after a disclosure statement has been issued for the condominium and he must give the prospective purchaser a copy no later than the date the unit sales agreement is fully executed. A disclosure statement may be used for advertising purposes if it is used in its entirety an no portion is underscored highlighted itaicized, etc.
In addition to the disclosure statement, what documents must a developer give to a prospective purchaser before a unit sales agreement is fully executed?
The condominium declaration and bylaws, and any supplements and ammendments affecting the unit