(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 Land Board in the land or interest in land being conveyed in the
transaction.
(2) The Department may
impose additional requirements or conditions on the issuance of the deed,
including but not limited to indemnification of and waiver of claims against
the Department and State of Oregon.
(3) When the land sale or land exchange
process has been completed, including the payment of the purchase price or
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.
(4) When a
purchaser of land (other than rangeland) desires to make payments in
installments the Department or its agent shall, upon receipt of one-fifth or 20
percent of the purchase price of the land, deliver to the purchaser a
certificate that the purchaser has contracted to purchase the land. Upon
performance under the contract or payment of three-fifths or 60 percent of the
purchase price and the receipt and documentation of a note or loan, and upon
surrender of the certificate of sale, the purchaser, or their heirs or assigns
of the purchaser, shall be issued a deed for the property by the Department or
its agent.
(5) A purchaser of
rangeland deemed eligible under OAR
141-067-0230 must pay at least 10% of the
purchase price at the time of purchase, and may then enter into a 10-year land
sale contract with the Department to pay the remainder in 10 equal annual
installments with the interest rate fixed by the Department in accord with ORS
327.425.
(6) All assignments of certificates of sale
shall be executed and acknowledged in the same manner as a deed to land or real
property. All requests for assignment of certificates 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, and receipt
of the certificate of sale.
(7) The
Department will record, in the appropriate county office, any and all deeds it
receives as a result of a land exchange or purchase.
