(1) To facilitate the handling of warranty work or remediation of defects to a new commercial or residential structure or a zero-lot-line dwelling, a contractor who builds the structure may present for recording in the deed records of the county in which the new structure is built a written warranty agreement that:
(a) Is signed by the contractor and the original owner of the new structure;
(b) Sets forth any express warranties furnished by the contractor; and
(c) Contains the names of the contractor and the original property owner, the title of the document, a legal description of the property and acknowledgment of the signatures of the parties in the same manner as the parties to a deed are acknowledged.
(2) The warranties set forth in the recorded warranty agreement:
(a) Benefit and burden subsequent owners of the structure.
(b) Cease to affect title to the property 10 years after the date the instrument is recorded. [2005 c.169 §2; 2007 c.648 §29]
Note: The amendments to 701.605 by section 29, chapter 648, Oregon Laws 2007, apply to new residential structures and zero-lot-line dwellings for which the contractor enters into a written construction contract on or after July 1, 2008. See section 30, chapter 648, Oregon Laws 2007. The text that applies until July 1, 2008, is set forth for the user’s convenience.
701.605. (1) To facilitate the handling of warranty work or remediation of defects to a new commercial or residential structure, a contractor who builds the structure may present for recording in the deed records of the county in which the new structure is built a written warranty agreement that:
(a) Is signed by the contractor and the original owner of the new structure;
(b) Sets forth any express warranties furnished by the contractor; and
(c) Contains the names of the contractor and the original property owner, the title of the document, a legal description of the property and acknowledgment of the signatures of the parties in the same manner as the parties to a deed are acknowledged.
(2) The warranties set forth in the recorded warranty agreement:
(a) Benefit and burden subsequent owners of the structure.
(b) Cease to affect title to the property 10 years after the date the instrument is recorded.
Note: See note under 701.560.
Section: Previous 701.570 701.575 701.580 701.585 701.590 701.595 701.600 701.605 701.620 701.625 701.630 701.635 701.640 701.645 701.900 NextLast modified: August 7, 2008