Blanket encumbrance prohibited
(1) Subject to the provisions of ORS 100.720 (Conditions prerequisite to sale), a condominium unit may not be conveyed by a developer subject to a blanket encumbrance.
(2) Notwithstanding subsection (1) of this section, the developer shall conform to an alternative requirement or method which the Real Estate Commissioner may deem acceptable to afford a purchaser the protection provided by the prohibition in subsection (1) of this section. [Formerly 94.465; 2001 c.756 §56]
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