Oregon Statutes 273.285 – Certificate of sale to installment purchaser; records of sale
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(1) When an applicant to purchase state lands desires to make payments in installments as provided in ORS § 273.281, the Department of State Lands shall, upon receipt of one-fifth of the purchase price of the land applied for, deliver to the purchaser a certificate that the purchaser has contracted to purchase the lands therein described. Upon performance under the contract and upon the surrender of the certificate of sale, the purchaser, or the heirs or assigns of the purchaser, shall be entitled to a deed issued under ORS § 273.300 for the lands therein described.
Terms Used In Oregon Statutes 273.285
- Contract: A legal written agreement that becomes binding when signed.
- 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
- Land: includes water, water rights, easements of every nature and all appurtenances to land. See Oregon Statutes 273.006
(2) The department shall maintain appropriate records of each sale. [Formerly 273.110]