Oregon Statutes 100.770 – Fraud and deceit prohibited
No developer or agent of a developer shall, in connection with the sale of a condominium unit, directly or indirectly:
Terms Used In Oregon Statutes 100.770
- Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
- condominium unit: means a part of the property which:
(a) Is described in ORS § 100. See Oregon Statutes 100.005
- Developer: means a declarant or any person that acquires an interest in a condominium from declarant, successor declarant or subsequent developer for the primary purpose of resale. See Oregon Statutes 100.005
- Fraud: Intentional deception resulting in injury to another.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Sale: means any disposition or transfer of a condominium unit, or an interest or estate therein, by a developer, including the offering of the property as a prize or gift when a monetary charge or consideration for whatever purpose is required by the developer. See Oregon Statutes 100.005
(1) Employ any device, scheme or artifice to defraud;
(2) Make any untrue statement of a material fact or fail to state a material fact necessary to make the statement made, in the light of the circumstances under which it is made, not misleading;
(3) Engage in any act, practice or course of business which operates or would operate as a fraud or deception upon any person;
(4) Issue, circulate or publish any prospectus, circular, advertisement, printed matter, document, pamphlet, leaflet or other literature, including a public report issued pursuant to ORS § 100.700, which contains an untrue statement of a material fact or fails to state a material fact necessary in order to make the statements therein made, in the light of the circumstances under which they are made, not misleading;
(5) Issue, circulate or publish any advertising matter or make any written representation, including a public report issued pursuant to ORS § 100.700, unless the name of the person issuing, circulating or publishing the matter or making the representation is clearly indicated; or
(6) Make any statement or representation, or issue, circulate or publish any advertising matter containing any statement to the effect that the condominium has been in any way approved or indorsed by the Real Estate Commissioner. [Formerly 94.448]