70th OREGON LEGISLATIVE ASSEMBLY--1999 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 3261

                        Senate Bill 1110

Sponsored by Senator FERRIOLI


                             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.

  Limits state agency disclosures of intent to acquire real
property. Requires state agency purchasing real property to
disclose to seller negotiations to resell, exchange or transfer
real property.

                        A BILL FOR AN ACT
Relating to real property disclosures.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 1999 Act is added to and made
a part of ORS 270.100 to 270.190. + }
  SECTION 2.  { + (1) For purposes of this section, 'state agency
' means any officer, board, commission, department, division or
institution in the executive or administrative branch of state
government.
  (2) If a state agency intends to purchase, exchange or acquire
real property from a private person, the state agency shall
disclose that intent in writing to the owner, or authorized agent
of the owner, of the real property before the state agency
discloses the intent to any other person or state agency.
  (3) A state agency shall disclose in writing to the seller of
real property, at the time the state agency purchases the real
property from the seller, any negotiations for the subsequent
resale, exchange or transfer of the real property that the state
agency is conducting. The disclosure shall include the price and
terms of the proposed resale, exchange or transfer. + }
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