2015 ORS 92.430¹
Notice to purchaser of cancellation rights
  • form

(1) Subject to ORS 92.427 (Cancellation of agreement to buy interest in subdivision or series partition) (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:

______________________________________________________________________________

BY SIGNING THIS AGREEMENT YOU ARE INCURRING A CONTRACTUAL OBLIGATION TO PURCHASE AN INTEREST IN LAND. HOWEVER, YOU HAVE THREE BUSINESS DAYS AFTER SIGNING THIS AGREEMENT TO CANCEL THE AGREEMENT BY WRITTEN NOTICE TO THE SELLER OR THE SELLER’S AGENT AT THE FOLLOWING ADDRESS:

____________

____________

____________

____________

____________

BEFORE EXECUTING THIS AGREEMENT, OR BEFORE THE THREE-DAY CANCELLATION PERIOD ENDS, YOU SHOULD DO THE FOLLOWING:

(1) CAREFULLY EXAMINE THE PUBLIC REPORT, IF ANY, ON THE SUBDIVISION OR SERIES PARTITION AND ANY ACCOMPANYING INFORMATION DELIVERED BY THE SELLER.

(2) INQUIRE OF YOUR LENDER AS TO WHETHER YOU CAN GET ADEQUATE FINANCING AT AN ACCEPTABLE INTEREST RATE.

(3) INQUIRE OF THE SELLER AND THE LENDER WHAT THE AMOUNT OF THE CLOSING COSTS WILL BE.

______________________________________________________________________________

(2) A copy of the notice set forth in subsection (1) 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. [1975 c.643 §17; 1983 c.570 §21]

Notes of Decisions

Parcel of land is subject to this law even though intersected by road. State v. Emmich, 34 Or App 945, 580 P2d 570 (1978)

Imposi­tion of greater sen­tence for viola­tion of Subdivision Control Law than those imposed for viola­tions of ORS 92.010 (Definitions for ORS 92.010 to 92.192) to 92.090 (Approval of subdivision plat names) and 92.100 (Approval of plat by city or county surveyor) to 92.160 (Notice to Real Estate Commissioner of receipt of subdivision plat) did not violate equal protec­tion. State v. Baker, 48 Or App 999, 618 P2d 997 (1980)

Seller of real prop­erty could not seek to void transac­tion as it was not within class of per­sons these pro­vi­sions seek to protect. Seal v. Polehn, 52 Or App 389, 628 P2d 746 (1981), Sup Ct review denied

Law Review Cita­tions

16 WLR 293 (1979)

Chapter 92

Atty. Gen. Opinions

Standards county may impose for approval of private roads created in parti­tioning land, (1972) Vol 35, p 1230; effect of county zoning ordinances on approved subdivision plat, (1973) Vol 36, p 702; applica­tion of Fasano v. Bd. of County Commrs., decision, (1974) Vol 36, p 960

Law Review Cita­tions

10 WLJ 394-403 (1974)


1 Legislative Counsel Committee, CHAPTER 92—Subdivisions and Partitions, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ors092.­html (2015) (last ac­cessed Jul. 16, 2016).
 
2 Legislative Counsel Committee, Annotations to the Oregon Revised Stat­utes, Cumulative Supplement - 2015, Chapter 92, https://­www.­oregonlegislature.­gov/­bills_laws/­ors/­ano092.­html (2015) (last ac­cessed Jul. 16, 2016).
 
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.