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Deeds to Real Property in Oregon

Deeds-Oregon

WHAT IS A DEED?

A deed is a legal instrument used for transferring title to real estate from one person to another. After accepting a deed, the grantee – the person receiving title – submits it to the county for recording in the deed records. This puts third parties on notice of the grantee’s title.

WHAT IS IN A DEED?

A deed identifies the grantor – the person transferring title. It identifies the grantee. It contains words of conveyance. It contains the legal description of the real estate, that is, a description that identifies the boundaries of the property. It contains a statement of the consideration that passes from grantee to grantor. It is signed by the grantor and acknowledged by the grantor before a notary public.

ARE THERE ADDITIONAL REQUIREMENTS FOR A DEED IN OREGON?

Yes, Oregon law requires a warning to the grantee about ascertaining the land use status of the property. Oregon law requires that the statement of consideration state the actual monetary consideration for the transfer. Oregon law requires that a deed contain a statement in the following or a substantially similar form, with the blank filled in:
“Until a change is requested, all tax statements shall be sent to the following address: ___________.”

ARE THERE DIFFERENT WAYS THAT TWO OR MORE PEOPLE MAY HOLD TITLE?

Yes, two or more people may choose to acquire title with or without rights of survivorship. They may choose to acquire title in equal or unequal fractions. Whatever their choices, these should be stated in the deed.

ARE THERE DIFFERENT KINDS OF DEEDS?

Yes, Oregon has four statutory forms. Each form differs from the others in its legal effects. The statutes specify the forms and their respective effects. The deed with the broadest assurances from grantor to grantee is the Warranty Deed. This form is the one customarily used in Oregon for a residential real estate transaction. The other forms are the Special Warranty Deed (customarily used to fulfill a land sale contract), the Bargain and Sale Deed, and the Quitclaim Deed. The forms and their legal effects are set out in Oregon Revised Statutes §§93.850 to 93.870.

HOW CAN A PERSON FIND OUT MORE ABOUT DEEDS?

Important legal consequences follow from the choice and content of a deed. These consequences affect the grantor’s and the grantee’s rights and obligations. A party to a deed should consult with a lawyer for answers to questions or concerns about a deed or the transaction of which it is a part.

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