(1)(a) A real estate licensee representing a seller of real property has a duty to inform each represented seller of the seller’s duties created by this section and ORS § 105.462 to 105.490 and 696.301.

Terms Used In Oregon Statutes 696.870

  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(b) A real estate licensee representing a buyer of real property has a duty to inform each represented buyer of the buyer’s rights under this section and ORS § 105.462 to 105.490 and 696.301.

(2) If a real estate licensee performs the duties set forth in subsection (1) of this section, the real estate licensee shall have no further duties under this section.

(3) Notwithstanding subsections (1) and (2) of this section, for the purposes of ORS § 696.301, a real estate licensee:

(a) Representing a seller by written agreement or course of conduct is bound by the standards of conduct and duties created under ORS § 696.805;

(b) Representing a buyer by written agreement or course of conduct is bound by the standards of conduct and duties created under ORS § 696.810; and

(c) Acting as a disclosed limited agent by a written agreement or course of conduct is bound by the standards of conduct and duties created under ORS § 696.815. [1993 c.547 § 6; 2001 c.300 § 50]

 

See note under 696.800.

 

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