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Oregon Residential Real Estate Sales Disclosure Statement

Property Any Sale Forres

Q: What is classed as Grampian?

The name Grampian Highlands or &#039;Grampians&#039; is strictly applicable only to the central mountainous part of the region but for this guide the name is also applied to the fiord coastal region in the south-west and the low-lying ground inland from the Moray Firth and Aberdeenshire coast.

Category:

Real Estate - Home Sale

State:

Oregon

Control #:

OR-37014

Format:

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Description

The Seller's Property Disclosure Statement, or Statement of Exclusion, is a comprehensive form required by Oregon law for the sale of residential property. It serves to inform potential buyers about the condition of the property by detailing known issues and exclusions. Key features of this form include the requirement for sellers to disclose material defects, with the obligation to complete each section thoroughly. Filling out this form involves marking any applicable exclusions and providing detailed responses to various property condition questions, ensuring no spaces are left blank. For attorneys, partners, and owners, this form is vital for protecting legal interests, while paralegals and legal assistants can aid in compiling relevant documentation and ensuring compliance with local statutes. Buyers have a limited timeframe of five days to revoke offers based on the disclosures made, emphasizing the form's significance in buyer-seller negotiations. Overall, this document is essential for facilitating transparency and ensuring informed transactions in real estate sales.

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How to fill out Oregon Residential Real Estate Sales Disclosure Statement?

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FAQ

Aberdeen is the major city of the region. Other major towns are the former royal burgh of Elgin, the major fishing port of Peterhead, Fraserburgh, Inverurie, Westhill, Stonehaven, Forres, Ellon and Portlethen. Grampian Regional Council was based at Woodhill House, Westburn Road, Aberdeen.

Forres, small royal burgh (town) in the council area and historic county of Moray, northeastern Scotland, 12 miles (19 km) west-southwest of Elgin.

Forres sits on a small tributary of the River Findhorn, beneath the Cluny and Sanquhar Hills, in the county of Moray in north-east Scotland.

It was made up of the historical counties of Aberdeenshire, City of Aberdeen, Kincardineshire and Morayshire in northeast Scotland. Moray included the historical county of Banffshire. Grampian was divided into five districts - Aberdeen, Banff and Buchan, Gordon, Kincardine and Deeside and Moray.

The name Grampian Highlands or 'Grampians' is strictly applicable only to the central mountainous part of the region but for this guide the name is also applied to the fiord coastal region in the south-west and the low-lying ground inland from the Moray Firth and Aberdeenshire coast.

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Residential Real Estate Sales Disclosure Statement

Oregon Statutes

TITLE 10 PROPERTY RIGHTS AND TRANSACTIONS

Chapter 105 Property Rights

SELLER'S PROPERTY DISCLOSURE AND DISCLAIMER STATEMENTS

105.462 Definitions for ORS 105.462 to 105.490

105.464 Form of seller's property disclosure statement

105.465 Application of ORS 105.462 to 105.490, 696.301 and 696.870; disclosure statement

105.470 Exclusions from ORS 105.462 to 105.490, 696.301 and 696.870

105.475 Buyer's statement of revocation of offer; criteria

105.480 Representations in disclosure statement; application

105.485 Allocation of burden of proof

105.490 Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies

105.462 Definitions for ORS 105.462 to 105.490.

For purposes of ORS 105.462 to 105.490:

(1) "Financial institution" has the meaning given that term in ORS 706.008. "Financial institution" includes mortgage bankers and mortgage brokers, as those terms are defined in ORS 59.840, and consumer finance companies licensed under ORS chapter 725.

(2) "Real estate licensee" has the meaning given that term in ORS 696.010. [2003 c.328 Â§4]

105.464 Form of seller's property disclosure statement.

A seller's property disclosure statement must be in substantially the following form:

[See, USLF form: OR-37014]

105.465 Application of ORS 105.462 to 105.490, 696.301 and 696.870; disclosure statement.

(1) The provisions of ORS 105.462 to 105.490, 696.301 and 696.870:

(a) Apply to the real property described in subparagraphs (A) to (D) of this paragraph unless the buyer indicates to the seller, which indication shall be conclusive, that the buyer will use the real property for purposes other than a residence for the buyer or the buyer's spouse, parent or child:

(A) Real property consisting of or improved by one to four dwelling units;

(B) A condominium unit as defined in ORS 100.005 and not subject to disclosure under ORS 100.705;

(D) A manufactured dwelling, as defined in ORS 446.003, that is owned by the same person who owns the land upon which the manufactured dwelling is situated.

(b) Do not apply to a leasehold in real property.

(2) Except as provided in ORS 105.475 (4), a seller shall complete, sign and deliver a seller's property disclosure statement as set forth in ORS 105.464 to each buyer who makes a written offer to purchase real property in this state. [1993 c.547 Â§1; 1997 c.816 Â§15; 1999 c.307 Â§24; 1999 c.677 Â§65; 2001 c.300 Â§74; 2003 c.328 Â§1]

105.470 Exclusions from ORS 105.462 to 105.490, 696.301 and 696.870.

ORS 105.462 to 105.490, 696.301 and 696.870 do not apply to:

(1) The first sale of a dwelling never occupied, provided that the seller provides the buyer with the following statement on or before the date the buyer is legally obligated to purchase the subject real property: "THIS HOME WAS CONSTRUCTED OR INSTALLED UNDER BUILDING OR INSTALLATION PERMIT(S) #___, ISSUED BY_____."

(2) Sales by financial institutions that acquired the property as custodian, agent or trustee, or by foreclosure or deed in lieu of foreclosure.

(3) The following sellers, if appointed by a court:

(a) Receivers;

(b) Personal representatives;

(d) Conservators; or

(e) Guardians.

(4) Sales or transfers by governmental agencies. [1993 c.547 Â§7; 1995 c.198 Â§1; 2003 c.328 Â§5]

105.475 Buyer's statement of revocation of offer; criteria.

(1) If a seller issues a seller's property disclosure statement and a buyer has not then delivered to the seller a written statement waiving the buyer's right to revoke the buyer's offer, the buyer shall have five business days after delivery of the seller's property disclosure statement to revoke the buyer's offer by delivering to the seller a separate signed written statement of revocation disapproving the seller's disclosure.

(2) If a buyer fails to timely deliver to a seller a written statement revoking the buyer's offer, the buyer's right to revoke the buyer's offer expires.

(3) If a buyer closes the transaction, the buyer's right to revoke based on ORS 105.462 to 105.490, 696.301 and 696.870 is terminated.

(4) If the seller fails or refuses to provide a seller's property disclosure statement as required under this section, the buyer shall have a right of revocation until the right is terminated pursuant to subsection (3) of this section.

(5) If the buyer revokes the offer pursuant to this section, notwithstanding ORS 696.581, the buyer is entitled to immediate return of all deposits and other considerations delivered to any party or escrow agent with respect to the buyer's offer, and the buyer's offer is void.

(6) When the deposits and other considerations have been returned to the buyer, upon the buyer's signed, written release and indemnification of the holders of the deposits and other considerations, the holders are released from all liability for the deposits and other considerations.

(7) Any seller's property disclosure statement issued by the seller is part of and incorporated into the offer and the acceptance. [1993 c.547 Â§Â§2,3; 2003 c.328 Â§6]

105.480 Representations in disclosure statement; application.

(1) The representations contained in a seller's property disclosure statement and in any amendment to the disclosure statement are the representations of the seller only. The representations of the seller are not representations of:

(a) A financial institution that may have made or that may make a loan pertaining to the property covered by a seller's property disclosure statement, or that may have or take a security interest in the property covered by a seller's property disclosure statement.

(b) A real estate licensee engaged by the seller or buyer.

(2) Neither a financial institution nor a real estate licensee is bound by or has any liability with respect to any representation, misrepresentation, omission, error or inaccuracy contained in the seller's property disclosure statement required by ORS 105.465 or any amendment to the disclosure statement. [1993 c.547 Â§4b; 1997 c.631 Â§400; 2001 c.300 Â§69; 2003 c.328 Â§7]

105.485 Allocation of burden of proof.

The burden of proof of lawful delivery of a seller's property disclosure statement and any amendment thereto is on the seller. The burden of proof of lawful delivery of a notice of revocation of a buyer's offer is on the buyer. [1993 c.547 Â§5; 2003 c.328 Â§8]

105.490 Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies.

ORS 105.462 to 105.490, 696.301 and 696.870 do not directly, indirectly or by implication limit or alter any preexisting common law or statutory right or remedy including actions for fraud, negligence or equitable relief. [1993 c.547 Â§8; 2003 c.328 Â§9]

Residential Real Estate Sales Disclosure Statement

Oregon Statutes

TITLE 10 PROPERTY RIGHTS AND TRANSACTIONS

Chapter 105 Property Rights

SELLER'S PROPERTY DISCLOSURE AND DISCLAIMER STATEMENTS

105.462 Definitions for ORS 105.462 to 105.490

105.464 Form of seller's property disclosure statement

105.465 Application of ORS 105.462 to 105.490, 696.301 and 696.870; disclosure statement

105.470 Exclusions from ORS 105.462 to 105.490, 696.301 and 696.870

105.475 Buyer's statement of revocation of offer; criteria

105.480 Representations in disclosure statement; application

105.485 Allocation of burden of proof

105.490 Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies

105.462 Definitions for ORS 105.462 to 105.490.

For purposes of ORS 105.462 to 105.490:

(2) "Real estate licensee" has the meaning given that term in ORS 696.010. [2003 c.328 Â§4]

105.464 Form of seller's property disclosure statement.

A seller's property disclosure statement must be in substantially the following form:

[See, USLF form: OR-37014]

105.465 Application of ORS 105.462 to 105.490, 696.301 and 696.870; disclosure statement.

(1) The provisions of ORS 105.462 to 105.490, 696.301 and 696.870:

(A) Real property consisting of or improved by one to four dwelling units;

(B) A condominium unit as defined in ORS 100.005 and not subject to disclosure under ORS 100.705;

(D) A manufactured dwelling, as defined in ORS 446.003, that is owned by the same person who owns the land upon which the manufactured dwelling is situated.

(b) Do not apply to a leasehold in real property.

105.470 Exclusions from ORS 105.462 to 105.490, 696.301 and 696.870.

ORS 105.462 to 105.490, 696.301 and 696.870 do not apply to:

(2) Sales by financial institutions that acquired the property as custodian, agent or trustee, or by foreclosure or deed in lieu of foreclosure.

(3) The following sellers, if appointed by a court:

(a) Receivers;

(b) Personal representatives;

(d) Conservators; or

(e) Guardians.

(4) Sales or transfers by governmental agencies. [1993 c.547 Â§7; 1995 c.198 Â§1; 2003 c.328 Â§5]

105.475 Buyer's statement of revocation of offer; criteria.

(2) If a buyer fails to timely deliver to a seller a written statement revoking the buyer's offer, the buyer's right to revoke the buyer's offer expires.

(3) If a buyer closes the transaction, the buyer's right to revoke based on ORS 105.462 to 105.490, 696.301 and 696.870 is terminated.

(7) Any seller's property disclosure statement issued by the seller is part of and incorporated into the offer and the acceptance. [1993 c.547 Â§Â§2,3; 2003 c.328 Â§6]

105.480 Representations in disclosure statement; application.

(b) A real estate licensee engaged by the seller or buyer.

105.485 Allocation of burden of proof.

105.490 Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies.

Property Any Sale Forres

This form is part of a form package!

Description

Viewed forms

How to fill out Oregon Residential Real Estate Sales Disclosure Statement?

Form popularity

FAQ

Is Forres in Grampian?

What region is Forres in?

What county is Forres?

What areas are in Grampian?

What is classed as Grampian?

Trusted and secure by over 3 million people of the world’s leading companies

Property Any Sale Forres

This form is part of a form package!

Description

Related legal definitions

Viewed forms

How to fill out Oregon Residential Real Estate Sales Disclosure Statement?

Form popularity

FAQ

Is Forres in Grampian?

What region is Forres in?

What county is Forres?

What areas are in Grampian?

What is classed as Grampian?

Property Any Sale Forres Related Searches

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