What is a bargain and sale deed in Oregon?

Bargain and sale deeds are statutory in Oregon under ORS 93.860. A bargain and sale deed conveys the grantor's "entire interest in the described property at the date of the deed which the deed purports to convey" but does not provide covenants of title (ORS 93.860(2, 3)).

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Oregon Bargain and Sale Deed

Oregon Bargain and Sale Deed

Name: Oregon Bargain and Sale Deed
Brand: US Legal Forms
Price: 59.00 USD
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Category:

Oregon Court Samples - Real Estate - Deeds

State:

Oregon

Control #:

OR-HJ-356-01

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Description

Bargain and Sale Deed

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FAQ

The quitclaim deed provides no warranties; it conveys the interest the grantor had in the propertynothing more.The bargain and sale deed indicates that the grantor has title; but property might come with encumbrances and defects.

Quitclaim deeds are most often used to transfer property between family members. Examples include when an owner gets married and wants to add a spouse's name to the title or deed, or when the owners get divorced and one spouse's name is removed from the title or deed.

The drawback, quite simply, is that quitclaim deeds offer the grantee/recipient no protection or guarantees whatsoever about the property or their ownership of it. Maybe the grantor did not own the property at all, or maybe they only had partial ownership.

Bargain and sale deeds, as the term suggests, is used in a sale. Unlike a quitclaim, the bargain and sale deed indicates that the grantor has the title and can convey it to a buyer.The bargain and sale deed indicates that the grantor has title; but property might come with encumbrances and defects.

Bargain and sale deeds are statutory in Oregon under ORS 93.860. A bargain and sale deed conveys the grantor's "entire interest in the described property at the date of the deed which the deed purports to convey" but does not provide covenants of title (ORS 93.860(2, 3)).

Buying property with this type of deed is not necessarily a bad idea, but it is advisable to take some precautions. If possible, a title search should be conducted to look for any clouds on the title and to see how difficult it would be to release them.

Sale deed can be challenged only if there are sound legal grounds. If it has been executed by fraud, co ertion etc it can be challenged but one need to prove to the court the grounds on which it is challenged.

Bargain and sale deeds are most often used when property is transferred after a foreclosure, tax sale, or the settlement of a deceased person's estate. They may also be used in the same situations as a quitclaim deed, although they give the grantee a little more protection.

Oregon Bargain and Sale Deed

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FAQ

What is the difference between a bargain and sale deed and a quitclaim deed?

Why would someone do a quit claim deed?

What are the disadvantages of a quit claim deed?

What is a bargain and sale deed in real estate?

What is a bargain and sale deed in Oregon?

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Can sale deed be challenged?

Why use a bargain and sale deed?

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