74th OREGON LEGISLATIVE ASSEMBLY--2007 Regular Session
 
NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .
 
LC 71
 
                         House Bill 2489
 
Sponsored by Representative ESQUIVEL; Representatives BOONE,
  BUCKLEY, GARRARD, LIM, READ, RILEY, THATCHER
 
 
                             SUMMARY
 
The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.
 
  Makes failure of seller to deliver seller's property disclosure
statement Class A violation. Punishes by maximum fine of $720.
 
                        A BILL FOR AN ACT
Relating to seller's real property disclosure statement; amending
  ORS 105.465.
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 105.462 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) 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 ORS 105.464 to each buyer who makes a
written offer to purchase real property in this state.
   { +  (3) A seller who fails to deliver a seller's property
disclosure statement to a buyer who makes a written offer to
purchase real property commits a Class A violation. + }
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