Or. Admin. R. 141-068-0090 - Land Sale Conditions
(1)
The Department will offer the type of deed (for example: quitclaim deed or
bargain and sale deed) it deems to be the most legally defensible and best
represents the known rights and interests held by the State in the land or
interest in land being conveyed in the transaction.
(2) The Department may enter into a land sale
contract that allows the applicant to make annual installment payments over no
more than five years when purchasing the property.
(3) The Department and an applicant may agree
to enter into a land sale contract where payment to the Department is made
through a lien against the property if:
(a)
The applicant is over the age of 65; or
(b) The applicant has a level of income that
is less than 80% of the median income in the county where the property is
located.
(4) Any land
sale contract negotiated under OAR 141-068-0090(2) or (3) shall include an
interest rate as defined in ORS
82.010, set at the time of the
agreement.
(5) As part of a
negotiated sale, the Department may request additional requirements or
conditions on the issuance of a deed, including but not limited to
indemnification of and waiver of claims against the Department and State of
Oregon.
(6) An offer by the
Department to enter into a land sale or exchange is valid for 12 months. If the
transaction is not completed within 12 months, the Department may:
(a) Revoke the offer and require a new
application and fee in order to continue; or
(b) The Director may extend the deadline in
writing to an agreed upon timeframe.
(7) When the land sale or land exchange
process has been completed, including the payment of the purchase price and
fulfillment of the terms of the land sale or land exchange agreement, the
Director will execute and deliver to the purchaser a deed in a manner and form
prescribed by these rules. The Department may choose to conduct closing through
an escrow agent.
(8) All
assignments of land sale contracts shall be executed and acknowledged in the
same manner as a deed to land or real property. All requests for assignment of
land sale contracts shall be in writing. Written consent of the Department is
required for any assignment. The Department shall issue the deed to the
assignee upon full payment of the purchase price or the remaining balance of
the land sale contract.
(9) The
Department shall record, in the appropriate county office, any and all deeds it
receives as a result of a land exchange or purchase.
(10) The grantee shall record any conveyance
issued by the Department it received as a result of a land exchange or
purchase. A copy of the recorded document shall be submitted to the Department.
(11) The Department may, where
feasible and deemed to be in the best interests of the public to do so, require
the grantee to issue a similar deed to the Department for the existing
submerged and submersible land fronting and abutting the grantee's land on the
waterway as it exists at the time of the transaction.
Notes
Stat. Auth.: ORS 183, 273 & 274
Stats. Implemented ORS 274.905-274.956
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.