Oregon Statutes 273.300 – Issuance of deed
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Whenever any purchaser of state lands holding a certificate of sale therefor has paid three-fifths or more of the purchase price thereof, the Director of the Department of State Lands may execute a deed conveying the lands to such purchaser, upon the purchaser’s executing:
Terms Used In Oregon Statutes 273.300
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
(1) A note for the remainder of the purchase price; and
(2) A mortgage on the premises in the same form and manner as other mortgages are executed for loans from the Common School Fund under ORS § 327.405 to 327.480. [Formerly 273.150; 1969 c.594 § 23]
[Formerly 273.560; 1967 c.421 § 78; renumbered 273.521]