Oregon Statutes 105.915 – Recording instrument creating lease or lease option of real property for wind energy conversion system; requirements
(1) An instrument creating a lease or an option to lease real property or the vertical space above real property for a wind energy conversion system or for wind measuring equipment shall be recordable under ORS § 93.710.
Terms Used In Oregon Statutes 105.915
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) An instrument described in subsection (1) of this section shall contain:
(a) The parties’ names;
(b) A legal description of the real property involved;
(c) The nature of the interest created;
(d) The consideration paid for the transfer; and
(e) The terms or conditions, if any, under which the interest may be revised or terminated.
(3) As used in this section, ‘wind energy conversion system’ means any device, supporting structure, mechanism or series of mechanisms that uses wind for the production of electricity or a mechanical application. [1981 c.590 § 4]
PERSONAL PROPERTY RIGHTS