Terms Used In Oregon Statutes > Chapter 100 > Requirements for Sale

• association: means the association provided for under ORS § 100. See Oregon Statutes 100.005
• Blanket encumbrance: means a trust deed or mortgage or any other lien or encumbrance, mechanic's lien or otherwise, securing or evidencing the payment of money and affecting more than one unit in a condominium, or an agreement affecting more than one such unit by which the developer holds such condominium under an option, contract to sell or trust agreement. See Oregon Statutes 100.005
• Commission: means the Oregon Transportation Commission. See Oregon Statutes 366.005
• Commissioner: means the Real Estate Commissioner. See Oregon Statutes 100.005
• condominium unit: means a part of the property which:

  (a) Is described in ORS § 100. 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
• Deed: The legal instrument used to transfer title in real property from one person to another.
• Department: means the Department of Transportation. See Oregon Statutes 366.005
• Developer: means a declarant or any person that acquires an interest in a condominium from declarant, successor declarant or subsequent developer for the primary purpose of resale. See Oregon Statutes 100.005
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Highway: means every public way, road, street, thoroughfare and place, including bridges, viaducts and other structures within the boundaries of this state, open, used or intended for use of the general public for vehicles or vehicular traffic as a matter of right. See Oregon Statutes 366.005
• Highway fund: means the State Highway Fund. See Oregon Statutes 366.005
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Purchaser: means an actual or prospective purchaser of a condominium unit pursuant to a sale. See Oregon Statutes 100.005
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• 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
• State highway: means any road or highway designated as such by law or by the Oregon Transportation Commission pursuant to law and includes both primary and secondary state highways. See Oregon Statutes 366.005
• United States: includes territories, outlying possessions and the District of Columbia. See Oregon Statutes 174.100