Oregon Statutes 92.027 – Deed reference to creation of unit of land
A person who conveys or contracts to convey fee title to a lot or parcel, or another unit of land resulting from a lien foreclosure or foreclosure of a recorded contract for the sale of real property, created or established on or after January 1, 2008, must include in the deed or other instrument conveying or contracting to convey fee title:
Terms Used In Oregon Statutes 92.027
- 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.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) A reference to the recorded subdivision plat or partition plat for the lot or parcel;
(2) A reference to or exhibit of the final land use decision that approved the subdivision or partition if a subdivision plat or partition plat is not required by law; or
(3) A reference to or exhibit of a final judgment or other document that evidences a lien foreclosure or a foreclosure of a recorded contract for the sale of the real property. [2007 c.866 § 3]
92.027 was added to and made a part of 92.010 to 92.192 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.
[Repealed by 1955 c.756 § 5 (92.025 enacted in lieu of 92.020 and 92.030)]