Oregon Statutes 92.305 – Definitions for ORS 92.305 to 92.495
As used in ORS § 92.305 to 92.495:
Terms Used In Oregon Statutes 92.305
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) ‘Blanket encumbrance’ means a trust deed or mortgage or any other lien or encumbrance, mechanic’s lien or otherwise, securing or evidencing the payment of money and affecting more than one interest in subdivided or series partitioned land, or an agreement affecting more than one such lot, parcel or interest by which the subdivider, series partitioner or developer holds such subdivision or series partition under an option, contract to sell or trust agreement.
(2) ‘Commissioner’ means the Real Estate Commissioner.
(3) Except as otherwise provided in ORS § 92.325 (2), ‘developer’ means a person who purchases a lot, parcel or interest in a subdivision or series partition that does not have a single family residential dwelling or duplex thereon to construct a single family residential dwelling or duplex on the lot, parcel or interest and to resell the lot, parcel or interest and the dwelling or duplex for eventual residential use purposes. ‘Developer’ also includes a person who purchases a lot, parcel or other interest in a subdivision or series partition that does not have a single family residential dwelling or duplex thereon for resale to another person. ‘Developer’ does not mean a ‘developer’ as that term is defined in ORS § 100.005.
(4) ‘Interest’ includes a lot or parcel, and a share, undivided interest or membership which includes the right to occupy the land overnight, and lessee’s interest in land for more than three years or less than three years if the interest may be renewed under the terms of the lease for a total period more than three years. ‘Interest’ does not include any interest in a condominium as that term is defined in ORS § 100.005 or any security interest under a land sales contract, trust deed or mortgage. ‘Interest’ does not include divisions of land created by lien foreclosures or foreclosures of recorded contracts for the sale of real property.
(5) ‘Negotiate’ means any activity preliminary to the execution of a binding agreement for the sale or lease of land in a subdivision or series partition, including but not limited to advertising, solicitation and promotion of the sale or lease of such land.
(6) ‘Lot,’ ‘parcel’ and ‘partition’ have the meaning given those terms in ORS § 92.010.
(7) ‘Person’ includes a natural person, a domestic or foreign corporation, a partnership, an association, a joint stock company, a trust and any unincorporated organization. As used in ORS § 92.305 to 92.495 the term ‘trust’ includes a common law or business trust, but does not include a private trust or a trust created or appointed under or by virtue of any last will and testament, or by a court.
(8) ‘Real property sales contract’ means an agreement wherein one party agrees to lease or to convey title to real property to another party upon the satisfaction of specified conditions set forth in the contract.
(9) ‘Sale’ or ‘lease’ includes every disposition or transfer of land in a subdivision or a series partition, or an interest or estate therein, by a subdivider or series partitioner or a developer, or their agents, including the offering of such property as a prize or gift when a monetary charge or consideration for whatever purpose is required by the subdivider, series partitioner or developer or their agents.
(10) ‘Series partitioned lands’ and ‘series partition’ mean a series of partitions of land located within this state resulting in the creation of four or more parcels over a period of more than one calendar year.
(11) ‘Series partitioner’ means any person who causes land to be series partitioned into a series partition, or who undertakes to develop a series partition, but does not include a public agency or officer authorized by law to make partitions.
(12) ‘Subdivided lands’ and ‘subdivision’ mean improved or unimproved land or lands 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 immediate or future, into 11 or more undivided interests or four or more other interests. ‘Subdivided lands’ and ‘subdivision’ include but are not limited to a subdivision of land located within this state subject to an ordinance adopted under ORS § 92.044 and do not include series partitioned lands. ‘Subdivided lands’ and ‘subdivision’ do not mean property submitted to ORS § 100.005 to 100.910 or property located outside this state which has been committed to the condominium form of ownership in accordance with the laws of the jurisdiction within which the property is located.
(13) ‘Subdivider’ means any person who causes land to be subdivided into a subdivision, or who undertakes to develop a subdivision, but does not include a public agency or officer authorized by law to make subdivisions. [1974 c.1 § 1; 1975 c.643 § 1; 1977 c.484 § 30; 1977 c.809 § 3a; 1979 c.46 § 3; 1979 c.284 § 92; 1979 c.650 § 21a; 1983 c.570 § 7; 1991 c.763 § 21]
[1963 c.624 § 13; repealed by 1973 c.421 § 52]