Chapter 92 — Subdivisions and Partitions
ORS 92.430 Notice to purchaser of cancellation rights; form
Subject to ORS 92.427 (7), the first written real property sales contract signed by the purchaser for the sale of a lot, parcel or interest in a subdivision or series partition shall contain, either upon the first page of such contract or upon a separate sheet attached to such first page, the following notice in at least 8-point type:
__________________________________________
NOTICE TO PURCHASER
BY SIGNING THIS AGREEMENT YOU
ARE INCURRING A CONTRACTUAL OB-
LIGATION TO PURCHASE AN INTEREST
IN LAND. HOWEVER, YOU HAVE THREE
BUSINESS DAYS AFTER SIGNING THIS
AGREEMENT TO CANCEL THE AGREE-
MENT BY WRITTEN NOTICE TO THE
SELLER OR THE SELLER’S AGENT AT
THE FOLLOWING ADDRESS:
BEFORE EXECUTING THIS AGREE-
MENT, OR BEFORE THE THREE-DAY
CANCELLATION PERIOD ENDS, YOU
SHOULD DO THE FOLLOWING:
(1) CAREFULLY EXAMINE THE PUB-
LIC REPORT, IF ANY, ON THE SUBDIVI-
SION OR SERIES PARTITION AND ANY
ACCOMPANYING INFORMATION DELIV-
ERED BY THE SELLER.
(2) INQUIRE OF YOUR LENDER AS
TO WHETHER YOU CAN GET ADE-
QUATE FINANCING AT AN ACCEPTA-
BLE INTEREST RATE.
(3) INQUIRE OF THE SELLER AND
THE LENDER WHAT THE AMOUNT OF
THE CLOSING COSTS WILL BE.
__________________________________________
A copy of the notice set forth in subsection
of this section shall be given to each purchaser under a contract described in subsection (1) of this section at the time of or immediately following the purchaser’s signing of such contract, for the use of the purchaser.
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Provenance
2023 Oregon Revised Statutes
Official online edition
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- oregonlegislature.gov
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Version history
Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.
2025 Oregon Revised Statutes — official online source · active · operative text
Official source2023 Oregon Revised Statutes · active · operative text
Official source