Oregon Statutes 100.660 – Nonresidential condominium or security filing; contents
(1) As used in this section, ‘nonresidential condominium’ means a condominium in which all units are available exclusively for nonresidential uses or all units are to be offered for sale as a security under ORS § 59.005 to 59.505.
Terms Used In Oregon Statutes 100.660
- Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- 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
(2) A declarant that proposes to submit real property to the condominium form of ownership under this chapter as a nonresidential condominium shall file with the Real Estate Commissioner nonresidential condominium documentation described in subsection (3) of this section and pay the fee required by ORS § 100.670.
(3) The nonresidential condominium documentation must include:
(a) General information on the condominium, provided on a form prescribed and furnished by the commissioner, including:
(A) The name and address of the condominium and the county in which the condominium is located; and
(B) The name, address and telephone number of the declarant and any agent of the declarant.
(b) For approval of the declaration and bylaws, the documents and information required under ORS § 100.668 (2).
(c) For approval of a supplemental declaration, the documents and information required under ORS § 100.668 (3).
(4) After review of the nonresidential condominium documentation filed under this section, the commissioner may require the declarant to file additional documents and information related to the nonresidential condominium documentation that the commissioner deems necessary to review and approve the declaration and bylaws or a supplemental declaration under this chapter. [Formerly 94.356; 2019 c.69 § 25]