Law: Oregon Sudivisions

Regulates the marketing in Oregon of subdivided or series partitioned property located in or outside of Oregon. It is administered by the Real Estate Agency. It requires the Agency be provided with information and then issue a certificate of exemption or a public report before the property can be sold

Improved or unimproved land divided or created into interests, or sold under an agreement to be subsequently divided or created into interests for the purpose of sale or lease, whether in the immediate or in the future, into 11 or more undivided interests, or four or more other interests

• sale or lease of apartments or similar space in an apartment building
• cemetery lots, parcels or units in Oreogn
• condominiums or timeshares
• land in Oregon zoned for and limited to use to nonresidential industrial or commercial purposes
• mobile home or manufactured dwelling parks
• land in Oregon sold by lots or parcels of at least 160 acres

Also, does not apply to land divided in accord with a comprehensive plan

Administers statewide land use planning in Oregon. Evaluates and acknowledges local comprehensive plans to ensure compliance with statewide land use planning goals and guidelines. Goals of LCDC include:

• strenthening citizen involvement , land use planning and the state economy
• assuring adequancy of agricultural lands, forest lands, open spaces, natural resources, air and water quality, recreational areas, housing, transportation, and public facilities
• effectively palnning for coastal shorelines, beaches and dunes, etc.

Has water, power, sewer, roads, and other improvements completed or has adequate bonding arranged to complete any unfinished improvements prior to sale

A subdivider may request a certificate of exemption prior to beginning sales. Must be accepted, approved, adn recorded, and a full service subdivision.

Any property subject to the law and not eligible for a certificate of exemption cannot be sold until the Agency issues a public report. It contains information regarding:

• the condition of the title to the property
• the uses to which the land can be put
• provisions limiting its uses
• any other information neccessary as determined by the Commissioner

Must filed with the Agency to obtain a public report. It will provide certain basic information such as the filer's name, and business and residence addresses and the names and bsiness addresses of all real estate licensees and all other persons selling or leasng interests in the subdivision or partition. Submission must also include

• statement describing land
• statement on condition of title and provisions made for legal access, sewage disposal, and public utilities
• a statement of the use or uses that will be offered
• a statement of any provisions that would limit the use or occupancy of the interests in the subdivision or partition

Buyer moves in and makes payments over time. Title transfered when the debt is paid off

Yes

In any transaction subject to the law, the purchaser must at the time of signing the first sales contract be given notice of a right to rescind the purchase agreement within three business days from the date of signing. He need not give any reason, and the seller cannot have him waive his right of rescission

Must be written and should be sent to the address of the sellor or his agent. If sent by certified mail with a return receipt requiested, it will be effective the date it is properly mailed. Upon receipt of the notice, the seller must immediately return the purchaser's money, after the check clears the bank

• if he is purchasing a lot with a residential dwelling already on it
• if he has contracted with the seller to have a residential dwelling built on the lot
• if he derives a substantial portion of his income from the development or purchase and sale of real property

Contains material information regarding the condominium that will have to be provided to every unit purchaser. In most cases a developer or agent of a developer may enter into a unit sales agreement only after a disclosure statement has been issued for the condominium and he must give the prospective purchaser a copy no later than the date the unit sales agreement is fully executed. A disclosure statement may be used for advertising purposes if it is used in its entirety an no portion is underscored highlighted itaicized, etc.

The condominium declaration and bylaws, and any supplements and ammendments affecting the unit