Oregon Statutes 93.268 – Notice to state agency of transfer or encumbrance of real property by title insurance company
(1) As used in this section, ‘encumbrance’ has the meaning given that term in ORS § 411.692.
Terms Used In Oregon Statutes 93.268
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(2) A title insurance company or agent that discovers the presence of a request for notice of transfer or encumbrance pursuant to ORS § 411.694 in the deed and mortgage records when performing a title search on real property shall:
(a) Provide the state agency that filed the request with a notice of transfer or encumbrance of the real property within 30 days of a transfer or encumbrance that results in the issuance of a certificate of title insurance; and
(b) Disclose the presence of the request for notice of transfer or encumbrance in any report preliminary to, or any commitment to offer, a certificate of title insurance for the real property.
(3) If the Department of Human Services or the Oregon Health Authority has caused to be recorded a termination of request for notice of transfer or encumbrance in the deed and mortgage records, a title insurance company or agent is no longer required to provide the notice of transfer or encumbrance required by subsection (2)(a) of this section for the affected real property.
(4) A title insurance company or agent shall use the form adopted under ORS § 411.694 or a form substantially similar to that form when providing the notice required by subsection (2)(a) of this section. [2003 c.638 § 3; 2011 c.720 § 54]
93.268 was enacted into law by the Legislative Assembly but was not added to or made a part of ORS Chapter 93 or any series therein by legislative action. See Preface to Oregon Revised Statutes for further explanation.