Terms Used In Oregon Statutes > Chapter 273 > Sale of State Lands

• City: includes any incorporated village or town. See Oregon Statutes 174.100
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of State Lands. See Oregon Statutes 273.006
• Director: means the Director of the Department of State Lands. See Oregon Statutes 273.006
• Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. ^{Source: OCC}
• Fraud: Intentional deception resulting in injury to another.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 273.006
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Statute: A law passed by a legislature.
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100