72nd OREGON LEGISLATIVE ASSEMBLY--2003 Regular Session
Enrolled
Senate Bill 515
Sponsored by Senator MINNIS (at the request of Oregon Association
of Realtors)
CHAPTER ................
AN ACT
Relating to real estate disclosure; creating new provisions; and
amending ORS 105.465, 105.470, 105.475, 105.480, 105.485 and
105.490.
Be It Enacted by the People of the State of Oregon:
SECTION 1. ORS 105.465 is amended to read:
105.465. (1) The provisions of ORS 105.465 to 105.490, 696.301
and 696.870:
(a) Apply to the real property described in subparagraphs (A)
to (D) of this paragraph unless the buyer indicates to the
seller, which indication shall be conclusive, that the buyer will
use the real property for purposes other than a residence for the
buyer or the buyer's spouse, parent or child:
(A) Real property consisting of or improved by one to four
dwelling units;
(B) A condominium unit as defined in ORS 100.005 and not
subject to disclosure under ORS 100.705;
(C) A timeshare property as defined in ORS 94.803 and not
subject to disclosure under ORS 94.829; and
(D) A manufactured dwelling, as defined in ORS 446.003, that is
owned by the same person who owns the land upon which the
manufactured dwelling is situated.
(b) Do not apply to a leasehold in real property.
{ - (2) A seller shall deliver one of the following to each
buyer who makes a written offer to purchase real property in this
state: - }
{ - (a) A written disclaimer that the seller makes no
representations or warranties as to the condition of the real
property or any improvement thereon and that the buyer will be
purchasing the property 'as is,' that is, with all defects, if
any; or - }
{ - (b) A seller's property disclosure statement in
substantially the following form: - }
µ _____________________________________________________________ º
{ -
SELLER'S PROPERTY DISCLOSURE - }
{ -
STATEMENT - }
{ -
(NOT A WARRANTY) - }
Enrolled Senate Bill 515 (SB 515-A) Page 1
{ -
(105.465) - }
{ - INSTRUCTIONS TO THE SELLER - }
{ - Please complete the following form. Do not leave any spaces
blank unless the question clearly does not apply to the property.
Please refer to the line number(s) of the question(s) when you
provide your explanation(s). For your protection you must date
and sign each page of this disclosure statement and each
attachment. - }
{ -
NOTICE TO THE BUYER
- }
{ - THE FOLLOWING REPRESENTATIONS ARE MADE BY THE SELLER(S),
CONCERNING THE CONDITION OF THE PROPERTY LOCATED AT ______ ('THE
PROPERTY'). - }
{ - DISCLOSURES CONTAINED IN THIS FORM ARE PROVIDED BY THE
SELLER ON THE BASIS OF SELLER'S ACTUAL KNOWLEDGE OF THE PROPERTY
AT THE TIME OF DISCLOSURE. YOU HAVE FIVE BUSINESS DAYS FROM THE
SELLER'S DELIVERY OF THIS SELLER'S DISCLOSURE STATEMENT TO REVOKE
YOUR OFFER BY DELIVERING YOUR SEPARATE SIGNED WRITTEN STATEMENT
OF REVOCATION TO THE SELLER, UNLESS YOU WAIVE THIS RIGHT AT OR
PRIOR TO ENTERING INTO A SALE AGREEMENT. - }
{ - FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC
CONDITION OF THIS PROPERTY YOU ARE ADVISED TO OBTAIN AND PAY FOR
THE SERVICES OF A QUALIFIED SPECIALIST TO INSPECT THE PROPERTY ON
YOUR BEHALF, FOR EXAMPLE, ARCHITECTS, ENGINEERS, PLUMBERS,
ELECTRICIANS, ROOFERS, BUILDING INSPECTORS, OR PEST AND DRY ROT
INSPECTORS. - }
{ - Seller___ is/___ is not occupying the property. - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ -
I. SELLER'S REPRESENTATIONS:
The following are representations
made by the seller and are not the
representations of any financial
institution that may have made or
may make a loan pertaining to
the property, or that may have or
take a security interest in the
property. - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
Enrolled Senate Bill 515 (SB 515-A) Page 2
{ -
1. TITLE
µ ºYesµ ºNoA. Do you have legal
authority to sell the
property?
µ ºYesµ ºN*B. To your knowledge, is
title to the property
subject to any of the
following:
(First right of refusal
(Option
(Lease or rental
agreement
(Other listing
(Life estate?
µ ºYesµ ºN*C. Are you aware of any
encroachments, bound-
ary agreements, bound-
ary disputes or recent
boundary changes?
µ ºYesµ ºN*D. Are you aware of any
rights of way, ease-
ments or licenses
(access limitations)
that may affect your
interest in the
property?
µ ºYesµ ºN*E. Are you aware of any
written agreements for
joint maintenance of
an easement or right
of way?
µ ºYesµ ºNoF. Are you aware of any
governmental study,
survey or notices that
would affect the
property?
µ ºYesµ ºNoG. Are you aware of any
pending or existing
assessments against the
property?
µ ºYesµ ºNoH. Are you aware of any
zoning violations or
nonconforming uses?
µ ºYesµ ºN*I. Are you aware of a
boundary survey for the
property?
µ ºYesµ ºN*J. Are you aware of any
covenants, conditions
or restrictions which
affect the property?
2.WATER
A. Household Water - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
Enrolled Senate Bill 515 (SB 515-A) Page 3
{ -
(1) The source of the
water is:
µ ºPublicµ ºCommunity
µ ºPrivateµ ºShared
(Water source infor-
mation:
µ ºYesµ ºNo *a. Are you aware
of any written
agreements for
shared water
source?
µ ºYesµ ºNo *b. To your knowl-
edge, is there
an easement
(recorded or
unrecorded)
for access to
and/or main-
tenance of the
water source?
µ ºYesµ ºNo c. Are any known
problems or
repairs needed?
µ ºYesµ ºNo (Are you aware of
any water treat-
ment systems for
the property?
µ ºLeasedµ ºOwned - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ -
B. Irrigation
µ ºYesµ ºNo (1) Are you aware of
any water rights
for the property?
µ ºYesµ ºNo *(If there exist any,
to your knowledge,
have the water
water rights been
used during the last
five-year period?
µ ºYesµ ºNo *(If so, is the certi-
ficate available?
C. Outdoor Sprinkler
system
µ ºYesµ ºNo (To your knowledge,
is there an outdoor
sprinkler system for
the property?
µ ºYesµ ºNo (To your knowledge,
has a back flow
valve been
Enrolled Senate Bill 515 (SB 515-A) Page 4
installed?
µ ºYesµ ºNo (To your knowledge,
is the outdoor
sprinkler system
operable?
3.SEWAGE
µ ºYesµ ºNoA. To your knowledge, is
the property connected
to a sanitary sewer?
µ ºYesµ ºNoB. Are you aware of any
sanitary sewer
proposed for the
property?
µ ºYesµ ºNoC. To your knowledge, is
the property connected
to a septic system or
cesspool?
µ ºYesµ ºNoD. Are you aware of any
problems or repairs
needed?
µ ºYesµ ºNoE. To your knowledge,
does your sewage
system require on-site
pumping to another
level?
4.INSULATION - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ -
A. To your knowledge, is
there insulation in the:
µ ºYesµ ºNo (Ceiling?
µ ºYesµ ºNo (Exterior walls?
µ ºYesµ ºNo (Floors?
µ ºYesµ ºNoB. To your knowledge,
are there any
defective insulated
windows?
5.STRUCTURAL - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ -
µ ºYesµ ºN*A. To your knowledge,
has the roof leaked?
µ ºYesµ ºNo If yes, has it been
repaired?
µ ºYesµ ºNoB. Additions/conversions/
remodeling?
µ ºYesµ ºNo *If yes, are you aware
Enrolled Senate Bill 515 (SB 515-A) Page 5
of whether a building
permit was obtained?
µ ºYesµ ºNo Was final inspection
obtained?
µ ºYesµ ºNoC. To your knowledge,
are there smoke
alarms?
µ ºYesµ ºNo If there are, which are
electrical (hard-wired)?
__________
µ ºYesµ ºNoD. To your knowledge, is
there a woodstove?
Make______
µ ºYesµ ºNo Was it installed with a
permit?
µ ºYesµ ºN*E. Are you aware of
whether a pest or
dry rot, structural
or '
whole house
'
inspection has
been done?
µ ºYesµ ºN*F. Are you aware of any
moisture problems in the
structure (especially
in the basement)? If
yes, explain frequency
and extent of prob-
lem on attached sheet
µ ºYesµ ºNoG. Are you aware of a
sump pump on the
property?
6.SYSTEMS AND FIXTURES - }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ -
If the following systems or
fixtures are included in the
purchase price, are they, to
your knowledge, in good
working order on the date
this form is signed?
µ ºYesµ ºNoA. Electrical system,
including wiring,
switches, outlets
and service
µ ºYesµ ºNoB. Plumbing system,
including pipes,
faucets, fixtures
and toilets
µ ºYesµ ºNoC. Hot water tank
µ ºYesµ ºNoD. Garbage disposal
µ ºYesµ ºNoE. Built-in range and oven
µ ºYesµ ºNoF. Built-in dishwasher
Enrolled Senate Bill 515 (SB 515-A) Page 6
µ ºYesµ ºNoG. Sump pump
µ ºYesµ ºNoH. Heating and cooling
systems
µ ºYesµ ºNoI. Security system
µ ºOwnedµ ºLeased
7.COMMON INTEREST
µ ºYesµ ºNoA. Home Owners'
Association?
Name of Association
________
Contact Person
________
Address
________
Phone Number
________
µ ºYesµ ºNoB. Regular periodic
assessments: $___
perµ º Month µ º Year
µ º Other_____
µ ºYesµ ºNoC. Are you aware of any
pending special
assessments?
µ ºYesµ ºNoD. Are you aware of any
shared '
common
areas'
or any joint
maintenance agree-
ments (facilities such
as walls, fences, pools,
tennis courts, walk-
ways or other areas
co-owned in undivided
interest with others)?
8.GENERAL
µ ºYesµ ºNoA. Are you aware of any
settling, soil, standing
water or drainage
problems on the
property or in the
immediate area?
µ ºYesµ ºNoB. To your knowledge,
does the property
contain fill?
µ ºYesµ ºNoC. Are you aware of any
material damage to the
property or any of the
structure from fire,
wind, floods, beach
movements, earthquake,
expansive soils
or landslides?
µ ºYesµ ºNoD. To your knowledge, is
the property in a
designated flood plain?
µ ºYesµ ºNoE. To your knowledge, is
the property in a
Enrolled Senate Bill 515 (SB 515-A) Page 7
designated slide zone?
µ ºYesµ ºNoF. Are you aware of any
substances, materials
or products that may
be an environmental
hazard such as, but
not limited to,
asbestos, formaldehyde,
radon gas, lead based
paint, fuel or
chemical storage
tanks, and contaminated
soil or water on the
subject property?
µ ºYesµ ºNoG. Are you aware of any
tanks or underground
storage tanks (e.g.,
septic, chemical, fuel,
etc.) on the property?
µ ºYesµ ºNoH. To your knowledge,
has the property ever
been used as an
illegal drug manu-
facturing site?
9.FULL DISCLOSURE BY
SELLERS
A. Other conditions or
defects
µ ºYesµ ºNo Are you aware of any
other material defects
affecting this prop-
erty or its value that
a prospective buyer
should know about?
B. Verification
The foregoing answers
and attached explan-
ations (if any) are
complete and correct
to the best of my/our
knowledge and I/we
have received a copy
hereof. I/we authorize
all of my/our agents
to deliver a copy of
this disclosure state-
ment to other real
estate licensees and
all prospective buyers
of the property. - }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
{ - DATE ___ SELLER ________
SELLER ______________
- }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
Enrolled Senate Bill 515 (SB 515-A) Page 8
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ -
II. BUYER'S
ACKNOWLEDGMENT
A.As buyer(s), I/we
acknowledge the duty
to pay diligent
attention to any
material defects which
are known to me/us or
can be known by me/us
by utilizing diligent
attention and observation.
B.Each buyer acknowledges
and understands that the
disclosures set forth in
this statement and in any
amendments to this
statement are made only
by the seller and are not
the representations of any
financial institution that
may have made or may
make a loan pertaining to
the property, or that may
have or take a security
interest in the property
and no such financial
institution shall be
bound by or have any
liability with respect to
any representation, mis-
representation, omission,
error or inaccuracy
contained in another
party's disclosure state-
ment required by this
section or any amendment
to the disclosure
statement.
C.Buyer (which term includes
all persons signing the
'
buyer's acceptance
'
portion of this disclosure
statement below) hereby
acknowledges receipt of
a copy of this disclosure
statement (including
attachments, if any)
bearing seller's signature. - }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
Enrolled Senate Bill 515 (SB 515-A) Page 9
{ - DISCLOSURES CONTAINED IN THIS FORM ARE PROVIDED BY THE
SELLER ON THE BASIS OF SELLER'S ACTUAL KNOWLEDGE OF THE PROPERTY
AT THE TIME OF DISCLOSURE. YOU, THE BUYER, HAVE FIVE BUSINESS
DAYS FROM THE SELLER'S DELIVERY OF THIS SELLER'S DISCLOSURE
STATEMENT TO REVOKE YOUR OFFER BY DELIVERING YOUR SEPARATE SIGNED
WRITTEN STATEMENT OF REVOCATION TO THE SELLER UNLESS YOU WAIVE
THIS RIGHT AT OR PRIOR TO ENTERING INTO A SALE AGREEMENT. - }
{ - BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS
SELLER'S DISCLOSURE STATEMENT.
DATE ____
BUYER __________
BUYER __________
- }
{ - Agent to sign and date: - }
{ - _________ Real Estate Licensee - }
{ - _________ Real Estate Business - }
{ - *If yes, attach a copy or explain on attached sheet - }
µ _____________________________________________________________ º
{ + (2) Except as provided in ORS 105.475 (4), a seller shall
complete, sign and deliver a seller's property disclosure
statement as set forth in section 3 of this 2003 Act to each
buyer who makes a written offer to purchase real property in this
state. + }
SECTION 2. { + Sections 3 and 4 of this 2003 Act are added to
and made a part of ORS 105.465 to 105.490. + }
SECTION 3. { + A seller's property disclosure statement must
be in substantially the following form: + }
________________________________________________________________
{ + If required under ORS 105.465, a seller shall deliver in
substantially the following form the seller's property disclosure
statement to each buyer who makes a written offer to purchase
real property in this state: + }
________________________________________________________________
{ + INSTRUCTIONS TO THE SELLER + }
{ + Please complete the following form. Do not leave any spaces
blank. Please refer to the line number(s) of the question(s)
when you provide your explanation(s). If you are not claiming an
exclusion or refusing to provide the form under ORS 105.475 (4),
you should date and sign each page of this disclosure statement
and each attachment. + }
{ + Each seller of residential property described in ORS
105.465 must deliver this form to each buyer who makes a written
offer to purchase. Under ORS 105.475 (4), refusal to provide this
form gives the buyer the right to revoke their offer at any time
prior to closing the transaction. Use only the section(s) of the
form that apply to the transaction for which the form is used. If
you are claiming an exclusion under ORS 105.470, fill out only
Section 1. + }
{ + An exclusion may be claimed only if the seller qualifies
for the exclusion under the law. If not excluded, the seller must
Enrolled Senate Bill 515 (SB 515-A) Page 10
disclose the condition of the property or the buyer may revoke
their offer to purchase anytime prior to closing the transaction.
Questions regarding the legal consequences of the seller's choice
should be directed to a qualified attorney. + }
________________________________________________________________
{ + (DO NOT FILL OUT THIS SECTION UNLESS YOU ARE CLAIMING AN
EXCLUSION UNDER ORS 105.470) + }
{ + Section 1. EXCLUSION FROM ORS 105.465 TO 105.490: + }
{ + You may claim an exclusion under ORS 105.470 only if you
qualify under the statute. If you are not claiming an exclusion,
you must fill out Section 2 of this form completely. + }
{ + Initial only the exclusion you wish to claim. + }
{ + ___ This is the first sale of a dwelling never occupied.
The dwelling is constructed or installed under building or
installation permit(s) #___, issued by _____.
___ This sale is by a financial institution that acquired the
property as custodian, agent or trustee, or by foreclosure or
deed in lieu of foreclosure.
___ The seller is a court appointed receiver, personal
representative, trustee, conservator or guardian.
___ This sale or transfer is by a governmental agency.
+ }
{ + Signature(s) of Seller claiming exclusion __________
+ }
{ + Date _____
Buyer(s) to acknowledge Seller's claim __________
+ }
{ + Date _____
+ }
________________________________________________________________
{ + (IF YOU DID NOT CLAIM AN EXCLUSION IN SECTION 1, YOU MUST
FILL OUT THIS SECTION.) + }
{ + Section 2. SELLER'S PROPERTY DISCLOSURE STATEMENT + }
{ +
(NOT A WARRANTY) + }
{ +
(ORS _____ (SECTION 3 OF THIS 2003 ACT)) + }
{ + NOTICE TO THE BUYER: THE FOLLOWING REPRESENTATIONS ARE
MADE BY THE SELLER(S) CONCERNING THE CONDITION OF THE PROPERTY
LOCATED AT __________ ('THE PROPERTY'). + }
{ + DISCLOSURES CONTAINED IN THIS FORM ARE PROVIDED BY THE
SELLER ON THE BASIS OF SELLER'S ACTUAL KNOWLEDGE OF THE PROPERTY
AT THE TIME OF DISCLOSURE. BUYER HAS FIVE DAYS FROM THE SELLER'S
DELIVERY OF THIS SELLER'S DISCLOSURE STATEMENT TO REVOKE BUYER'S
OFFER BY DELIVERING BUYER'S SEPARATE SIGNED WRITTEN STATEMENT OF
REVOCATION TO THE SELLER DISAPPROVING THE SELLER'S DISCLOSURE
STATEMENT, UNLESS BUYER WAIVES THIS RIGHT AT OR PRIOR TO ENTERING
INTO A SALE AGREEMENT. + }
Enrolled Senate Bill 515 (SB 515-A) Page 11
{ + FOR A MORE COMPREHENSIVE EXAMINATION OF THE SPECIFIC
CONDITION OF THIS PROPERTY, BUYER is ADVISED TO OBTAIN AND PAY
FOR THE SERVICES OF A QUALIFIED SPECIALIST TO INSPECT THE
PROPERTY ON BUYER'S BEHALF INCLUDING, FOR EXAMPLE, ONE OR MORE OF
THE FOLLOWING: ARCHITECTS, ENGINEERS, PLUMBERS, ELECTRICIANS,
ROOFERS, ENVIRONMENTAL INSPECTORS, BUILDING INSPECTORS, CERTIFIED
HOME INSPECTORS, OR PEST AND DRY ROT INSPECTORS. + }
{ + Seller ___ is/ ___ is not occupying the property. + }
{ + I. SELLER'S REPRESENTATIONS: + }
{ + The following are representations made by the seller and
are not the representations of any financial institution that may
have made or may make a loan pertaining to the property, or that
may have or take a security interest in the property, or any real
estate licensee engaged by the seller or the buyer. + }
{ + *If you mark yes on items with *, attach a copy or explain
on an attached sheet. + }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ +
TITLE + }
{ +
Do µouºYeseµleºNo µutºUnknowno sell the property?
*B.Is title to the property subject to any of the
following: µ ºYes µ ºNo µ ºUnknown
(1)First right of refusal
(2)Option
(3)Lease or rental agreement
(4)Other listing
(5)Life estate?
*C.Are there any encroachments, boundary agreements,
boundary disputes or recent µouºYesyµchºNoeµ? ºUnknown
*D.Are there any rights of way, easements,
licenses, access limitations or claims that
may affect your interest in µheºYespµrtºNo µ ºUnknown
*E.Are there any agreements for joint
maintenance of an easement oµ rºYes µf ºNo?µ ºUnknown
*F.Are there any governmental studies, designations,
zoning overlays, surveys or notices that would
affect the property? µ ºYes µ ºNo µ ºUnknown
*G.Are there any pending or existing governmental
assessments against the propµrtºYes µ ºNo µ ºUnknown
*H.Are there any zoning violations or
nonconforming uses? µ ºYes µ ºNo µ ºUnknown
*I.Is there a boundary survey fµr ºYespµopºNoyµ ºUnknown
*J.Are there any covenants, conditions,
restrictions or private assessments that
affect the property? µ ºYes µ ºNo µ ºUnknown
*K.Is the property subject to any special tax
assessment or tax treatment that may result
in levy of additional taxes if the property
is sold? µ ºYes µ ºNo µ ºUnknown
Enrolled Senate Bill 515 (SB 515-A) Page 12
2. WATER
A. Household water
(1)The source of the water is (check ALL that apply):
µ ºPublic µ ºCommunity µ ºPrivate
µ ºOther _____
(2)Water source information:
*a.Does the water source requirµ aºYeseµ pºNoiµ? ºUnknown
If yes, do you have a permit? µ ºYES µ ºNO
b. Is the water source located µn ºYespµopºNoyµ ºUnknown
*If not, are there any written agreements for
a shared water source? µ ºYes µ ºNo µ ºUnknown µ ºNA
*c.Is there an easement (recorded or unrecorded)
for your access to or maintenance of the water
source? µ ºYes µ ºNo µ ºUnknown
d. If the source of water is from a well or spring,
have you had any of the following in the past
12 months? µ ºFlow test µ ºBacteria test
µ ºChemical contents testµ ºYes µ ºNo µ ºUnknown µ ºNA
*e.Are there any water source plumbing problems
or needed repairs? µ ºYes µ ºNo µ ºUnknown
(3)Are there any water treatment systems for
the property? µ ºYes µ ºNo µ ºUnknown
µ ºLeased µ ºOwned
B. Irrigation
(1)Are there any µ º water rights or µ º other irrigation
rights for the property? µ ºYes µ ºNo µ ºUnknown
*(2If any exist, has the irrigation water been
used during the last five-µeaºYesrµodºNo µ ºUnknown µ ºNA
*(3Is there a water rights certificate or other
written evidence availableµ ºYes µ ºNo µ ºUnknown µ ºNA
C. Outdoor sprinkler system
(1)Is there an outdoor sprinkler system for the
property? µ ºYes µ ºNo µ ºUnknown
(2)Has a back flow valve beenµinºYeslµd?ºNo µ ºUnknown µ ºNA
(3)Is the outdoor sprinkler sµstºYespµraºNo?µ ºUnknown µ ºNA
3. SEWAGE SYSTEM
A. Is the property connected to a public or
community sewage system? µ ºYes µ ºNo µ ºUnknown
B. Are there any new public or community sewage
systems proposed for the proµerºYes µ ºNo µ ºUnknown
C. Is the property connected to an on-site septic
system? µ ºYes µ ºNo µ ºUnknown
If yes, was it installed bµ pºYestµ ºNo µ ºUnknown µ ºNA
*Has the system been repaireµ oºYestµreºNo µ ºUnknown
Has the condition of the system been
evaluated and a report issueµ? ºYes µ ºNo µ ºUnknown
Has it ever been pumped? µ ºYes µ ºNo µ ºUnknown µ ºNA
If yes, when? __________
*D.Are there any sewage system problems or
needed repairs? µ ºYes µ ºNo µ ºUnknown
E. Does your sewage system require on-site
pumping to another level? µ ºYes µ ºNo µ ºUnknown
4. DWELLING INSULATION
A. Is there insulation in the:
(1)Ceiling? µ ºYes µ ºNo µ ºUnknown
(2)Exterior walls? µ ºYes µ ºNo µ ºUnknown
(3)Floors? µ ºYes µ ºNo µ ºUnknown
B. Are there any defective insulated doors or
Enrolled Senate Bill 515 (SB 515-A) Page 13
windows? µ ºYes µ ºNo µ ºUnknown
5. DWELLING STRUCTURE
*A.Has the roof leaked? µ ºYes µ ºNo µ ºUnknown
If yes, has it been repairµd?ºYes µ ºNo µ ºUnknown µ ºNA
B. Are there any additions, conversions or
remodeling? µ ºYes µ ºNo µ ºUnknown
If yes, was a building perµitºYesuµreºNo µ ºUnknown µ ºNA
If yes, was a building perµitºYesaµneºNo µ ºUnknown µ ºNA
If yes, was final inspectiµn ºYesiµedºNo µ ºUnknown µ ºNA
C. Are there smoke alarms or deµecºYes?µ ºNo µ ºUnknown
D. Is there a woodstove includeµ iºYeseµsaºNo µ ºUnknown
Make __________
*E.Has pest and dry rot, structural or
'
whole house'
inspection been done
within the last three years?µ ºYes µ ºNo µ ºUnknown
*F.Are there any moisture problems, areas of
water penetration, mildew odors or other
moisture conditions (especially in the
basement)? µ ºYes µ ºNo µ ºUnknown
*If yes, explain on attached sheet the frequency and
extent of problem and any insurance claims,
repairs or remediation done.
G. Is there a sump pump on the µroºYesyµ ºNo µ ºUnknown
H. Are there any materials used in the
construction of the structure that are or
have been the subject of a recall, class
action suit, settlement or lµtiºYesoµ? ºNo µ ºUnknown
If yes, what are the materials? _____
(1)Are there problems with thµ mºYesiµlsºNo µ ºUnknown µ ºNA
(2)Are the materials covered µy ºYesrµanºNo µ ºUnknown µ ºNA
(3)Have the materials been inµpeºYes?µ ºNo µ ºUnknown µ ºNA
(4)Have there ever been claims filed for these
materials by you or by preµioºYeswµerºNo µ ºUnknown µ ºNA
If yes, when? _____
(5)Was money received? µ ºYes µ ºNo µ ºUnknown µ ºNA
(6)Were any of the materials repaired or
replaced? µ ºYes µ ºNo µ ºUnknown µ ºNA
6. DWELLING SYSTEMS AND FIXTURES
If the following systems or fixtures are included
in the purchase price, are they in good working
order on the date this form is signed?
A. Electrical system, including wiring, switches,
outlets and service µ ºYes µ ºNo µ ºUnknown
B. Plumbing system, including pipes, faucets,
fixtures and toilets µ ºYes µ ºNo µ ºUnknown
C. Water heater tank µ ºYes µ ºNo µ ºUnknown
D. Garbage disposal µ ºYes µ ºNo µ ºUnknown µ ºNA
E. Built-in range and oven µ ºYes µ ºNo µ ºUnknown µ ºNA
F. Built-in dishwasher µ ºYes µ ºNo µ ºUnknown µ ºNA
G. Sump pump µ ºYes µ ºNo µ ºUnknown µ ºNA
H. Heating and cooling systemµ ºYes µ ºNo µ ºUnknown µ ºNA
I. Security system µ ºOwned µ ºYessµd ºNo µ ºUnknown µ ºNA
J. Are there any materials or products used in
the systems and fixtures that are or have
been the subject of a recall, class action
settlement or other litigatiµnsºYes µ ºNo µ ºUnknown
Enrolled Senate Bill 515 (SB 515-A) Page 14
If yes, what product? __________
(1)Are there problems with the µroºYes?µ ºNo µ ºUnknown
(2)Is the product covered by a µarºYesyµ ºNo µ ºUnknown
(3)Has the product been inspectµd?ºYes µ ºNo µ ºUnknown
(4)Have claims been filed for this product
by you or by previous ownerµ? ºYes µ ºNo µ ºUnknown
If yes, when? __________
(5)Was money received? µ ºYes µ ºNo µ ºUnknown
(6)Were any of the materials or products repaired
or replaced? µ ºYes µ ºNo µ ºUnknown
7. COMMON INTEREST
A. Is there a Home Owners' Association
or other governing entity? µ ºYes µ ºNo µ ºUnknown
Name of Association or Other Governing
Entity __________
Contact Person ____________
Address _______________
Phone Number ____________
B. Regular periodic assessments: $___
per µ ºMonth µ ºYearµ ºOther ___
*C.Are there any pending or proposed special
assessments? µ ºYes µ ºNo µ ºUnknown
D. Are there shared '
common areas'
or joint
maintenance agreements for facilities like
walls, fences, pools, tennis courts, walkways
or other areas co-owned in undivided interest
with others? µ ºYes µ ºNo µ ºUnknown
E. Is the Home Owners' Association or other
governing entity a party to pending litigation
or subject to an unsatisfiµd ºYesmµntºNo µ ºUnknown µ ºNA
F. Is the property in violation of recorded
covenants, conditions and restrictions or in
violation of other bylaws or governing rules,
whether recorded or not? µ ºYes µ ºNo µ ºUnknown µ ºNA
8. GENERAL
A. Are there problems with settling, soil,
standing water or drainage on the property
or in the immediate area? µ ºYes µ ºNo µ ºUnknown
B. Does the property contain fiµl?ºYes µ ºNo µ ºUnknown
C. Is there any material damage to the property or
any of the structure(s) from fire, wind, floods,
beach movements, earthquake, expansive soils
or landslides? µ ºYes µ ºNo µ ºUnknown
D. Is the property in a designaµedºYesoµplºNo?µ ºUnknown
E. Is the property in a designated slide or other
geologic hazard zone? µ ºYes µ ºNo µ ºUnknown
*F.Has any portion of the property been tested
or treated for asbestos, formaldehyde, radon
gas, lead-based paint, mold, fuel or chemical
storage tanks or contaminateµ sºYesoµ wºNorµ ºUnknown
G. Are there any tanks or underground storage
tanks (e.g., septic, chemical, fuel, etc.)
on the property? µ ºYes µ ºNo µ ºUnknown
H. Has the property ever been used as an illegal
drug manufacturing or distriµutºYessµteºNo µ ºUnknown
*If yes, was a Certificate oµ FºYessµ iºNoeµ? ºUnknown
Enrolled Senate Bill 515 (SB 515-A) Page 15
9. FULL DISCLOSURE BY SELLERS
*A.Are there any other material defects
affecting this property or its value
that a prospective buyer should + }
____NOTE_TO_WEB_CUSTOMERS:__________________________________
THE FOLLOWING TABULAR TEXT MAY BE IRREGULAR.
FOR COMPLETE INFORMATION PLEASE SEE THE PRINTED MEASURE.
_______________________________________________________________
{ +
µnoºYesoµt?ºNo
*If yes, describe the defect on attached sheet
and explain the frequency and extent of the
problem and any insurance claims, repairs or
remediation.
B. Verification:
The foregoing answers and attached explanations (if any) are complete and correct to
the best of my/our knowledge and I/we have received a copy of this disclosure statement.
I/we authorize my/our agents to deliver a copy of this disclosure statement to all
prospective buyers of the property or their agents.
Seller(s) signature:
SELLER _______________
DATE __________
SELLER _______________
DATE __________ + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
________________________________________________________________
{ + II. BUYER'S ACKNOWLEDGMENT + }
{ + A. As buyer(s), I/we acknowledge the duty to pay diligent
attention to any material defects that are known to me/us or can
be known by me/us by utilizing diligent attention and
observation. + }
{ + B. Each buyer acknowledges and understands that the
disclosures set forth in this statement and in any amendments to
this statement are made only by the seller and are not the
representations of any financial institution that may have made
or may make a loan pertaining to the property, or that may have
or take a security interest in the property, or of any real
estate licensee engaged by the seller or buyer. A financial
institution or real estate licensee is not bound by and has no
liability with respect to any representation, misrepresentation,
omission, error or inaccuracy contained in another party's
disclosure statement required by this section or any amendment to
the disclosure statement. + }
{ + C. Buyer (which term includes all persons signing the
'buyer's acknowledgment' portion of this disclosure statement
below) hereby acknowledges receipt of a copy of this disclosure
statement (including attachments, if any) bearing seller's
signature(s). + }
Enrolled Senate Bill 515 (SB 515-A) Page 16
{ + DISCLOSURES, IF ANY, CONTAINED IN THIS FORM ARE PROVIDED BY
THE SELLER ON THE BASIS OF SELLER'S ACTUAL KNOWLEDGE OF THE
PROPERTY AT THE TIME OF DISCLOSURE. IF THE SELLER HAS FILLED OUT
SECTION 2 OF THIS FORM, YOU, THE BUYER, HAVE FIVE DAYS FROM THE
SELLER'S DELIVERY OF THIS DISCLOSURE STATEMENT TO REVOKE YOUR
OFFER BY DELIVERING YOUR SEPARATE SIGNED WRITTEN STATEMENT OF
REVOCATION TO THE SELLER DISAPPROVING THE SELLER'S DISCLOSURE
UNLESS YOU WAIVE THIS RIGHT AT OR PRIOR TO ENTERING INTO A SALE
AGREEMENT. + }
{ + BUYER HEREBY ACKNOWLEDGES RECEIPT OF A COPY OF THIS
SELLER'S PROPERTY DISCLOSURE STATEMENT. + }
{ + BUYER _______________ DATE __________
BUYER _______________ DATE __________
+ }
{ + Agent receiving disclosure statement on buyer's behalf to
sign and date:
+ } { + _______________ Real Estate Licensee
_______________ Real Estate Firm
+ }
{ + Date received by agent _____ + }
____________________________________________________________
END OF POSSIBLE IRREGULAR TABULAR TEXT
____________________________________________________________
________________________________________________________________
SECTION 4. { + For purposes of ORS 105.465 to 105.490:
(1) 'Financial institution' has the meaning given that term in
ORS 706.008. 'Financial institution' includes mortgage bankers
and mortgage brokers, as those terms are defined in ORS 59.840,
and consumer finance companies licensed under ORS chapter 725.
(2) 'Real estate licensee' has the meaning given that term in
ORS 696.010. + }
SECTION 5. ORS 105.470 is amended to read:
105.470. ORS 105.465 to 105.490, 696.301 and 696.870 do not
apply to:
(1) The first sale of a dwelling never occupied, provided that
the seller provides the buyer with the following statement on or
before the date the buyer is legally obligated to purchase the
subject real property: 'THIS HOME WAS CONSTRUCTED OR INSTALLED
UNDER BUILDING OR INSTALLATION PERMIT(S) #__, ISSUED BY ___. '
(2) Sales by financial institutions that acquired the property
as custodian, agent or trustee, or by foreclosure or deed in lieu
of foreclosure.
{ - (3) Court appointed receivers, personal representatives,
trustees, conservators or guardians. - }
{ - (4) A seller who has never occupied any part of the real
property, provided the seller represents in writing that the
seller has no knowledge of any material defects in the real
property except for those set out in the writing, and further
provided that the seller advises the buyer in writing to obtain a
qualified inspector. - }
{ + (3) The following sellers, if appointed by a court:
(a) Receivers;
(b) Personal representatives;
(c) Trustees;
(d) Conservators; or
Enrolled Senate Bill 515 (SB 515-A) Page 17
(e) Guardians. + }
{ - (5) - } { + (4) + } Sales or transfers by governmental
agencies.
SECTION 6. ORS 105.475 is amended to read:
105.475. { - (1) The following statement shall be included in
the body of a seller's disclaimer: 'YOU HAVE SEVEN BUSINESS DAYS
FROM SELLER'S DELIVERY OF THIS DISCLAIMER TO REVOKE YOUR OFFER BY
DELIVERING YOUR SIGNED WRITTEN STATEMENT TO SELLER TO THAT
EFFECT. YOU HAVE AN OBLIGATION TO PERFORM WITH DUE DILIGENCE
YOUR OFFER TO PURCHASE IN GOOD FAITH.' - }
{ - (2) If a seller issues a disclaimer and a buyer has not
then delivered to the seller a written statement waiving the
buyer's right to revoke the buyer's offer, the buyer shall have
seven business days after delivery of the disclaimer to revoke
the buyer's offer by delivering to the seller a separate signed
written statement to that effect. - }
{ - (3) - } { + (1) + } If a seller issues a seller's
{ + property + } disclosure statement and a buyer has not then
delivered to the seller a written statement waiving the buyer's
right to revoke the buyer's offer, the buyer shall have five
business days after delivery of the seller's { + property + }
disclosure statement to revoke the buyer's offer by delivering to
the seller a separate signed written statement { - to that
effect - } { + of revocation disapproving the seller's
disclosure + }.
{ - (4) - } { + (2) + } If a buyer fails to timely deliver
to a seller a written statement revoking the buyer's offer, the
buyer's right to revoke the buyer's offer expires.
{ - (5) - } { + (3) + } If a buyer closes the transaction,
the buyer's right to revoke based on ORS 105.465 to 105.490,
696.301 and 696.870 is terminated.
{ - (6) - } { + (4) + } If the seller fails or refuses to
provide a
{ - disclosure or disclaimer - } { + seller's property
disclosure statement + } as required under this section, the
buyer shall have a right of revocation until { - such - }
{ + the + } right is terminated pursuant to subsection
{ - (5) - } { + (3) + } of this section.
{ - (7) - } { + (5) + } If the buyer revokes the offer
pursuant to
{ - subsections (2) to (9) of - } this section,
notwithstanding ORS 696.581, the buyer { - shall be - } { +
is + } entitled to immediate return of all deposits and other
considerations delivered to any party or escrow agent with
respect to the buyer's offer, and the buyer's offer is void.
{ - (8) - } { + (6) + } When the deposits and other
considerations have been returned to the buyer, upon the buyer's
signed, written release and indemnification of the holders of the
deposits and other considerations, the holders { - shall be - }
{ + are + } released from all liability for the deposits and
other considerations.
{ - (9) - } { + (7) + } Any { - disclaimer or - } { +
seller's property + } disclosure statement issued by the seller
is part of and incorporated into the offer and the acceptance.
SECTION 7. ORS 105.480 is amended to read:
105.480. (1) The representations contained in a seller's { +
property + } disclosure statement and in any amendment to the
disclosure statement are the representations of the seller only
{ - , and no - } { + . The representations of the seller are
not representations of:
Enrolled Senate Bill 515 (SB 515-A) Page 18
(a) A + } financial institution that may have made or that may
make a loan pertaining to the property covered by a seller's
{ + property + } disclosure statement, or that may have or take
a security interest in the property covered by a seller's
{ + property + } disclosure statement { - , - } { + .
(b) A real estate licensee engaged by the seller or buyer.
(2) Neither a financial institution nor a real estate
licensee + } is bound by or has any liability with respect to any
representation, misrepresentation, omission, error or inaccuracy
contained in { - another party's - } { + the seller's
property + } disclosure statement required by ORS 105.465 or any
amendment to the disclosure statement.
{ - (2) For purposes of ORS 105.465 to 105.490, 'financial
institution' has the meaning given that term in ORS 706.008 and
also includes mortgage bankers and mortgage brokers as those
terms are defined in ORS 59.840, and consumer finance companies
licensed under ORS chapter 725. - }
SECTION 8. ORS 105.485 is amended to read:
105.485. The burden of proof of lawful delivery of a seller's
{ - disclaimer or seller's - } { + property + } disclosure
statement and any amendment thereto { - shall be - } { +
is + } on the seller. The burden of proof of lawful delivery of a
notice of revocation of a buyer's offer
{ - shall be - } { + is + } on the buyer.
SECTION 9. ORS 105.490 is amended to read:
105.490. ORS 105.465 to 105.490, 696.301 and 696.870
{ - shall - } { + do + } not directly, indirectly or by
implication limit or alter any preexisting common law or
statutory right or remedy including actions for fraud, negligence
or equitable relief.
----------
Passed by Senate April 28, 2003
...........................................................
Secretary of Senate
...........................................................
President of Senate
Passed by House May 19, 2003
...........................................................
Speaker of House
Enrolled Senate Bill 515 (SB 515-A) Page 19
Received by Governor:
......M.,............., 2003
Approved:
......M.,............., 2003
...........................................................
Governor
Filed in Office of Secretary of State:
......M.,............., 2003
...........................................................
Secretary of State
Enrolled Senate Bill 515 (SB 515-A) Page 20
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