ORS § 100.640

Filing; required documents and information

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Statutory text

The following documents and information must be submitted to the Real Estate Commissioner as part of the filing required under ORS 100.635: (a) A copy of the proposed or recorded declaration or supplemental declaration of condominium ownership drawn in conformance with ORS 100.105 or 100.120, or the law applicable in the state where the condominium was created; (b) A copy of the proposed or recorded bylaws drawn in conformance with ORS 100.415 or the law applicable in the state where the condominium was created; (c) A copy of the full size plat prepared in conformance with ORS 100.115

or the law applicable in the state where the condominium was created, or a copy of the proposed site plan showing unit designations and locations; (d) A statement from the county assessor or county surveyor that the name for the condominium is acceptable under ORS 100.105 (6); (e) A copy of a preliminary title report, title insurance policy or condominium guarantee that has been issued within the preceding 30 days, including a map showing the location of property described in the report, policy or guarantee or other evidence of title satisfactory to the commissioner; (f) A copy of all restrictive covenants, reservations or other documents that may create an encumbrance on or limit the use of the property other than those restrictions contained in the declaration or bylaws; (g) Subject to subsection

of this section and unless the information is contained in the disclosure statement, a copy of the reserve study required by ORS 100.175 and other sources of information that serve as a basis for calculating reserves in accordance with ORS 100.175; (h) A sample form of a unit sales agreement, including the notice to purchaser of cancellation rights in accordance with ORS 100.730 and 100.740, the statement required by ORS 93.040

and any warranty required under ORS 100.185; (i) A sample form of a receipt for documents required under ORS 100.725; (j) A copy of the escrow agreement drawn in conformance with ORS 100.680 and executed by both the declarant and the escrow agent if required by ORS 100.680; (k) If individual escrow agreements or instructions will be executed by the purchaser and are required by ORS 100.680, other than the standard escrow instruction required by the escrow agent, a sample form and a letter from the escrow agent, agreeing to the establishment of the escrows and the procedure set forth in the sample form; (L) A unit sales agreement drawn in conformance with ORS 100.685; (m) If any of the sales will be by means of an installment contract of sale: (A) A copy of the escrow agreement or escrow instructions executed by the developer and the escrow agent providing for the establishment of collection escrows and the deposit of documents in accordance with ORS 100.720; and (B) The proposed installment contract of sale form, if available; (n) Any other documents by which the purchasers will be bound; (o) Any report or disclosure statement issued for the condominium, by the federal government and any other state; and (p) A statement of any additional facts or information that the developer desires to submit to the commissioner.

If a disclosure statement required under ORS 100.655 must be adopted and issued before real property may be submitted to the condominium, a reserve study under ORS 100.175 is not required if the disclosure statement includes the information specified in ORS 100.655 (1)(h)(C). [Formerly 94.353; 1997 c.816 §13; 2001 c.756 §53; 2007 c.409 §35; 2007 c.410 §20; 2009 c.641 §48; 2019 c.69 §22]

Synced from the Florida Legislature’s official site. Verify the current version before citing.

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