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Current as of January 01, 2023 | Updated by Findlaw Staff
(1) As used in this section, “encumbrance” has the meaning given that term in ORS 411.692.
(2) A title insurance company or agent that discovers the presence of a request for notice of transfer or encumbrance pursuant to ORS 411.694 in the deed and mortgage records when performing a title search on real property shall:
(a) Provide the state agency that filed the request with a notice of transfer or encumbrance of the real property within 30 days of a transfer or encumbrance that results in the issuance of a certificate of title insurance; and
(b) Disclose the presence of the request for notice of transfer or encumbrance in any report preliminary to, or any commitment to offer, a certificate of title insurance for the real property.
(3) If the Department of Human Services or the Oregon Health Authority has caused to be recorded a termination of request for notice of transfer or encumbrance in the deed and mortgage records, a title insurance company or agent is no longer required to provide the notice of transfer or encumbrance required by subsection (2)(a) of this section for the affected real property.
(4) A title insurance company or agent shall use the form adopted under ORS 411.694 or a form substantially similar to that form when providing the notice required by subsection (2)(a) of this section.
Cite this article: FindLaw.com - Oregon Revised Statutes Property Rights and Transactions § 93.268 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-10-property-rights-and-transactions/or-rev-st-sect-93-268/
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