Oregon Statutes 311.732 – Deed or contract clauses prohibiting application for deferral are void
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After September 20, 1985, it shall be unlawful for any mortgage trust deed or land sale contract to maintain a clause or statement which prohibits the owner from applying for the benefits of the deferral of special assessment for local improvement as provided in ORS § 311.702 to 311.735. Any such clause or statement in a mortgage trust deed or land sale contract executed after September 20, 1985, shall be void. [1985 c.167 § 11]
Terms Used In Oregon Statutes 311.732
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.