Oregon Timber Deed
Description
Definition and meaning
The Oregon Timber Deed is a legal document used to convey ownership of standing timber and trees from a Seller to a Purchaser in the state of Oregon. This deed specifies the terms under which the timber rights are granted, including conditions regarding cutting, removal, and liabilities pertaining to the timber. It ensures that both parties understand their rights and responsibilities regarding the timber on the specified property.
How to complete a form
To complete the Oregon Timber Deed, follow these steps:
- Begin by filling in the date of the agreement.
- Enter the names and mailing addresses of both the Seller and the Purchaser.
- Specify the purchase price agreed upon by both parties.
- Provide the property details, including the county and the legal description as required.
- Clearly state any exclusions such as trees that must remain due to state regulations.
- Include the signatures of both parties, along with printed names and their titles, if applicable.
Key components of the form
The Oregon Timber Deed consists of several crucial elements:
- Timber Rights Transfer: Specifies the transfer of rights from Seller to Purchaser.
- Property Description: Legal details about the property where the timber is located.
- Consideration Amount: The agreed upon price for the timber rights.
- Conditions of Sale: Terms under which timber can be harvested, including time limits and responsibilities for damages.
- Warranties: Seller’s assurances regarding clear title to the timber.
- Indemnity Clauses: Seller and Purchaser’s responsibilities regarding liabilities.
State-specific requirements
The Oregon Timber Deed must adhere to specific state regulations:
- It must comply with the Oregon Forest Practices Act , which governs the management and harvesting of timber.
- The document should clearly specify all terms to avoid potential legal disputes.
- Notarization is typically required to validate the legal transfer.
- All relevant state taxes on timber sales must be reported and paid.
What documents you may need alongside this one
When preparing the Oregon Timber Deed, the following documents may be necessary:
- Timber Sale Agreement: A preliminary agreement outlining terms before the deed.
- Property Survey: To confirm boundaries and property details.
- Proof of Ownership: Documentation establishing the Seller’s rights to the timber.
- Notarization Form: For the acknowledgment of signatures by a notary public.
- Tax Documentation: Related to timber severance or yield taxes, if applicable.
Common mistakes to avoid when using this form
Users should be aware of the following common pitfalls:
- Failing to adequately describe the property, which may lead to disputes over the timber rights.
- Not specifying the carve-outs for any trees that should remain due to regulations.
- Omitting the notarization step can invalidate the deed.
- Not addressing tax responsibilities can lead to legal complications.
- Overlooking local regulations that may impact timber harvesting practices.
How to fill out Oregon Timber Deed?
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FAQ
Salaries for loggers depend on the task in which they specialize. Fallers cut down trees using mobile felling machines and powered chainsaws. They earned a median $21.46 per hour or $44,650 per year as of May 2019, according to the Bureau of Labor Statistics.
The average stumpage price is $300/MBF, or $1,800 per acre total value.
Would-be lumberjacks should expect to pay $1,000 to $2,000 per acre, plus the value of the timber growing on it, which can add anything from zero to up to $15,000 an acre to the price for stands averaging 50 years of age.
The going price for property at timber value in Oregon is $2,000 to $4,000 an acre. If it's sold as a home site, it's worth $30,000 an acre.
A written timber sale agreement or contract is generally the preferable and safest method of selling timber. A written contract is a legally binding document that protects both the buyer and the seller (the landowner) from misunderstandings that may develop in the absence of such an agreement.
Hire a Reputable Forestry Professional. Develop a Forest Management Plan. Plan the Pre-Harvest. Determine a Selling Method. Have a Contract. Conduct the Sale and Harvest. Monitor the Harvest. Closeout with Buyer/Logger.
To estimate the value of your timber, take the volume, divided by 1,000, and multiply it by the price quoted in your states standing timber stumpage report.
A timber deed is one method of selling timber. Where a timber deed is used, the title to the timber passes to the buyer when a properly executed deed is delivered and recorded. Under a timber deed: Seller conveys all liability and risk in timber to buyer upon deed execution and payment.
The term "timber sale" is used to refer to any significant harvest of wood products involving an exchange of monies. Timber sales may involve sales of trees used to make lumber (sawtimber), fuelwood, whole tree chips, pulp, or any combination of these products.