Terms Used In Oregon Statutes > Chapter 100 > Removal of Property From Unit Ownership

• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assessment: means any charge imposed or levied by the association of unit owners on or against a unit owner or unit pursuant to provisions of the declaration or the bylaws of the condominium or provisions of this chapter. See Oregon Statutes 100.005
• association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
• Building: means a multiple-unit building or single-unit buildings, or any combination thereof, comprising a part of the property. See Oregon Statutes 100.005
• Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
• Common elements: means the general common elements and the limited common elements. See Oregon Statutes 100.005
• Contract: A legal written agreement that becomes binding when signed.
• Declaration: means the instrument described in ORS § 100. See Oregon Statutes 100.005
• Dismissal: The dropping of a case by the judge without further consideration or hearing. ^Source:
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• Fraud: Intentional deception resulting in injury to another.
• Joint resolution: A legislative measure which requires the approval of both chambers.
• Personal property: All property that is not real property.
• Quorum: The number of legislators that must be present to do business.
• Recorded: means to cause to be recorded by the county officer in the real property records for each county in which the condominium is located. See Oregon Statutes 100.005
• Recording officer: means the county officer charged with the duty of filing and recording deeds and mortgages or any other instruments or documents affecting the title to real property. See Oregon Statutes 100.005
• Sale: means any disposition or transfer of a condominium unit, or an interest or estate therein, by a developer, including the offering of the property as a prize or gift when a monetary charge or consideration for whatever purpose is required by the developer. See Oregon Statutes 100.005
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• State Treasury: includes those financial assets the lawful custody of which are vested in the State Treasurer and the office of the State Treasurer relating to the custody of those financial assets. See Oregon Statutes 174.100
• Testify: Answer questions in court.
• Violate: includes failure to comply. See Oregon Statutes 174.100