Oregon Excludes Certain Facts From Disclosure as Material Facts to Real Property Transactions
By Jeff Sorg, OnlineEd Blog
(October 21, 2015) – In Oregon, unless one of the limited legal exclusions applies, each seller of residential property is required to deliver to each buyer who makes a written offer a Seller’s Property Disclosure Statement. A seller who is not excluded under law who fails to deliver this statement is penalized in that the buyer of the property will be able to revoke their transaction at any time up until closing. These allowable seller exclusions are:
- The first selling of a dwelling never occupied;
- The sale of property by a financial institution who acquired the property as a trustee, custodian or agent, or by foreclosure of by deed in lieu of foreclosure,
- The seller who is a court appointed trustee, representative, conservator, or guardian; and
- The sale of property by a governmental agency.
While the Oregon form lists many items that must be disclosed, and allows for additional material facts not listed in the form to be disclosed, the following are among incidents that are not considered to be material to a real property transaction under Oregon law and do not have to be disclosed:
- The fact or suspicion that the real property or a neighboring property was the site of a death by violent crime, by suicide or by any other manner;
- The fact or suspicion that the real property or a neighboring property was the site of a crime, political activity, religious activity or any other act or occurrence that does not adversely affect the physical condition of or title to real property;
- The fact or suspicion that an owner or occupant of the real property has or had human immunodeficiency virus or acquired immune deficiency syndrome;
- The fact or suspicion that a sex offender registered under ORS 181.806 (Reporting by sex offender discharged, paroled or released from correctional facility or another United States jurisdiction), 181.807 (Reporting by sex offender discharged, released or placed on probation by court or another United States jurisdiction), 181.808 (Reporting by certain persons upon moving into state) or 181.809 (Reporting by sex offenders adjudicated in juvenile court) resides in the area; and
- The fact that a notice has been received that a neighboring property has been determined to be not fit for use under ORS.
All information contained in this posting is deemed correct as of the date of publication, but is not guaranteed by the author and may have been obtained by third-party sources. Due to the fluid nature of the subject matter, regulations, requirements and laws, prices and all other information may or may not be correct in the future and should be verified if cited, shared or otherwise republished.
For more information about OnlineEd and their education for real estate brokers, principal brokers, property managers, and mortgage brokers, visit www.OnlineEd.com.
Jeff Sorg is a co-founder of OnlineEd®, an online real estate, mortgage broker, and vocational school founded in 1997, where he also serves as Chief Executive Officer, and School Director. Sorg holds vocational and post-secondary school instructor licenses in several states and has authored numerous real estate continuing education and pre-licensing courses and has been awarded the International Distance Education Certification Center’s CDEi Designation for distance education. Memberships include ARELLO (Association of Real Estate License Law Officials), the National Association of REALTORS®, Oregon Association of REALTORS®, and Portland Metro Association of REALTORS®. Awards and service include REALTOR® Emeritus in the National Association, Life Member award in Portland Metro Association and Chairperson of the Oregon Real Estate Forms Committee.
OnlineEd® provides real estate, mortgage broker, insurance, and contractor pre-license, post-license, continuing education, career enhancement, and professional development and designation courses over the Internet.