Oregon Statutes 100.640 – Filing; required documents and information
(1) The following documents and information must be submitted to the Real Estate Commissioner as part of the filing required under ORS § 100.635:
Terms Used In Oregon Statutes 100.640
- Any other state: includes any state and the District of Columbia. See Oregon Statutes 174.100
- Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
- Contract: A legal written agreement that becomes binding when signed.
- Declarant: means a person who records a declaration under ORS § 100. See Oregon Statutes 100.005
- Declaration: means the instrument described in ORS § 100. See Oregon Statutes 100.005
- Developer: means a declarant or any person that acquires an interest in a condominium from declarant, successor declarant or subsequent developer for the primary purpose of resale. See Oregon Statutes 100.005
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Purchaser: means an actual or prospective purchaser of a condominium unit pursuant to a sale. See Oregon Statutes 100.005
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Recorded: means to cause to be recorded by the county officer in the real property records for each county in which the condominium is located. See Oregon Statutes 100.005
- Sale: means any disposition or transfer of a condominium unit, or an interest or estate therein, by a developer, including the offering of the property as a prize or gift when a monetary charge or consideration for whatever purpose is required by the developer. See Oregon Statutes 100.005
(a) A copy of the proposed or recorded declaration or supplemental declaration of condominium ownership drawn in conformance with ORS § 100.105 or 100.120, or the law applicable in the state where the condominium was created;
(b) A copy of the proposed or recorded bylaws drawn in conformance with ORS § 100.415 or the law applicable in the state where the condominium was created;
(c) A copy of the full size plat prepared in conformance with ORS § 100.115 (1) or the law applicable in the state where the condominium was created, or a copy of the proposed site plan showing unit designations and locations;
(d) A statement from the county assessor or county surveyor that the name for the condominium is acceptable under ORS § 100.105 (6);
(e) A copy of a preliminary title report, title insurance policy or condominium guarantee that has been issued within the preceding 30 days, including a map showing the location of property described in the report, policy or guarantee or other evidence of title satisfactory to the commissioner;
(f) A copy of all restrictive covenants, reservations or other documents that may create an encumbrance on or limit the use of the property other than those restrictions contained in the declaration or bylaws;
(g) Subject to subsection (2) of this section and unless the information is contained in the disclosure statement, a copy of the reserve study required by ORS § 100.175 and other sources of information that serve as a basis for calculating reserves in accordance with ORS § 100.175;
(h) A sample form of a unit sales agreement, including the notice to purchaser of cancellation rights in accordance with ORS § 100.730 and 100.740, the statement required by ORS § 93.040 (2) and any warranty required under ORS § 100.185;
(i) A sample form of a receipt for documents required under ORS § 100.725;
(j) A copy of the escrow agreement drawn in conformance with ORS § 100.680 and executed by both the declarant and the escrow agent if required by ORS § 100.680;
(k) If individual escrow agreements or instructions will be executed by the purchaser and are required by ORS § 100.680, other than the standard escrow instruction required by the escrow agent, a sample form and a letter from the escrow agent, agreeing to the establishment of the escrows and the procedure set forth in the sample form;
(L) A unit sales agreement drawn in conformance with ORS § 100.685;
(m) If any of the sales will be by means of an installment contract of sale:
(A) A copy of the escrow agreement or escrow instructions executed by the developer and the escrow agent providing for the establishment of collection escrows and the deposit of documents in accordance with ORS § 100.720; and
(B) The proposed installment contract of sale form, if available;
(n) Any other documents by which the purchasers will be bound;
(o) Any report or disclosure statement issued for the condominium, by the federal government and any other state; and
(p) A statement of any additional facts or information that the developer desires to submit to the commissioner.
(2) If a disclosure statement required under ORS § 100.655 must be adopted and issued before real property may be submitted to the condominium, a reserve study under ORS § 100.175 is not required if the disclosure statement includes the information specified in ORS § 100.655 (1)(h)(C). [Formerly 94.353; 1997 c.816 § 13; 2001 c.756 § 53; 2007 c.409 § 35; 2007 c.410 § 20; 2009 c.641 § 48; 2019 c.69 § 22]