Or. Admin. Code § 141-068-0090
Current through Register Vol. 63, No. 12, December 1, 2024
Section 141-068-0090 - Land Sale Conditions(1) The Department will offer the type of deed (for example: quitclaim deed or bargain and sale deed) it deems to be the most legally defensible and best represents the known rights and interests held by the State in the land or interest in land being conveyed in the transaction. (2) The Department may enter into a land sale contract that allows the applicant to make annual installment payments over no more than five years when purchasing the property. (3) The Department and an applicant may agree to enter into a land sale contract where payment to the Department is made through a lien against the property if: (a) The applicant is over the age of 65; or (b) The applicant has a level of income that is less than 80% of the median income in the county where the property is located. (4) Any land sale contract negotiated under OAR 141-068-0090(2) or (3) shall include an interest rate as defined in ORS 82.010, set at the time of the agreement. (5) As part of a negotiated sale, the Department may request additional requirements or conditions on the issuance of a deed, including but not limited to indemnification of and waiver of claims against the Department and State of Oregon. (6) An offer by the Department to enter into a land sale or exchange is valid for 12 months. If the transaction is not completed within 12 months, the Department may: (a) Revoke the offer and require a new application and fee in order to continue; or (b) The Director may extend the deadline in writing to an agreed upon timeframe. (7) When the land sale or land exchange process has been completed, including the payment of the purchase price and fulfillment of the terms of the land sale or land exchange agreement, the Director will execute and deliver to the purchaser a deed in a manner and form prescribed by these rules. The Department may choose to conduct closing through an escrow agent. (8) All assignments of land sale contracts shall be executed and acknowledged in the same manner as a deed to land or real property. All requests for assignment of land sale contracts shall be in writing. Written consent of the Department is required for any assignment. The Department shall issue the deed to the assignee upon full payment of the purchase price or the remaining balance of the land sale contract. (9) The Department shall record, in the appropriate county office, any and all deeds it receives as a result of a land exchange or purchase. (10) The grantee shall record any conveyance issued by the Department it received as a result of a land exchange or purchase. A copy of the recorded document shall be submitted to the Department. (11) The Department may, where feasible and deemed to be in the best interests of the public to do so, require the grantee to issue a similar deed to the Department for the existing submerged and submersible land fronting and abutting the grantee's land on the waterway as it exists at the time of the transaction.Or. Admin. Code § 141-068-0090
DSL 2-2016, f. 5-13-16, cert. ef.6/1/2016; DSL 2-2017, f. & cert. ef. 1/12/2017Stat. Auth.: ORS 183, 273 & 274
Stats. Implemented ORS 274.905-274.956