This Disclosure Notice of Forfeiture Rights form is provided by the Seller to the Purchaser at the time of the contract signing. Mandatory use of this form is rarely required; however, this form provides the Purchaser with a good understanding of forfeiture and how he or she can be affected by it in the event of a default. Should the courts become involved, the use of this form will help the Seller show that the Purchaser understood his side of the bargain and may help the Purchaser pursue the remedy of forfeiture if challenged by the Purchaser.
Oregon Seller's Disclosure of Forfeiture Rights for Contract for Deed
State:
Oregon
Control #:
OR-00470-22
Format:
Word;
Rich Text
Instant download
Description
How to fill out Oregon Seller's Disclosure Of Forfeiture Rights For Contract For Deed?
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FAQ
In general, you have an obligation to disclose potential problems and material defects that could affect the value of the property you're trying to sell. In addition, it is considered illegal in most states to deliberately conceal major defects on your property.
One question all sellers are required by law to answer on the Real Estate Transfer Disclosure Statement is whether there are any neighborhood noise problems or other nuisances. If the answer is yes, the seller must explain that answer in detail.
Currently, the non-disclosure states are Alaska, Idaho, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming. In Missouri, some of their counties (parishes to us Louisianians) are non-disclosure as well.
Whenever you sell real estate, you are obligated to follow local mandatory disclosure laws. This involves informing the buyer about specific hazards or problems affecting the property before the sale is completed.
In general, as long as any dispute does not affect anything material about the house or property on which it stands, and you're not being asked to disclose information in writing, you shouldn't feel obliged to give a 'warts and all' account of all the problems you've had with a neighbour.
Under California law, all material facts that affect the value or desirability of the property must be disclosed to the buyer. There is no specific definition or rule on what is considered to be a material fact.
"No Seller Disclosures" means that the seller is selling the property without disclosing any defects or facts that might be necessary for a buyer to make an informed decision. A purchaser should get written permission to bring the purchaser's...
California's Especially Stringent Disclosure Requirements Sellers must fill out and give the buyers a disclosure form listing a broad range of defects, such as a leaky roof, deaths that occurred within three years on the property, neighborhood nuisances such as a dog that barks every night, and more.
If a seller fails to disclose, or actively conceals, problems that affect the value of the property; they are violating the law, and may be subject to a lawsuit for recovery of damages based on claims of fraud and deceit, misrepresentation and/or breach of contract.
