A vendor under a land sale contract, a mortgagee of a mortgage or a beneficiary of a trust deed who becomes a developer by reason of acquiring a unit or units in a condominium through foreclosure of its lien or acceptance of a deed in lieu thereof, is not required to submit a filing to the Real Estate Commissioner under ORS 100.635, or to distribute a disclosure statement under ORS 100.705 or provide the notice to purchaser required under ORS 100.740 if the vendor, mortgagee or beneficiary sells, in a single sale, all of the units so acquired to a developer who agrees to comply with the provisions of ORS 100.635 and 100.705 before negotiating a sale of the unit or units to others. [1989 c.595 §46]
Section: Previous 100.625 100.635 100.640 100.645 100.650 100.655 100.660 100.665 100.670 100.675 100.680 100.700 100.705 100.710 100.720 NextLast modified: August 7, 2008