Section 696.855 – Common law application to statutory obligations and remedies.
(1) ORS 696.301, 696.392, 696.600 to 696.785, 696.890 and 696.995 do not directly, indirectly or by implication limit or alter any preexisting common law or statutory right or remedy including actions for fraud, negligence or equitable relief. (2) Common law and statutory remedies are not affected by ORS 696.301, 696.392, 696.600 to 696.785, 696.890 and […]
Section 696.870 – Duties of real estate licensee under ORS 105.462 to 105.490, 696.301 and 696.870.
(1)(a) A real estate licensee representing a seller of real property has a duty to inform each represented seller of the seller’s duties created by this section and ORS 105.462 to 105.490 and 696.301. (b) A real estate licensee representing a buyer of real property has a duty to inform each represented buyer of the […]
Section 696.880 – Licensee not required to disclose proximity of registered sex offender.
Nothing in ORS 163A.005 to 163A.235, 696.301, 696.805, 696.810, 696.815 or 696.855 creates an obligation on the part of a person licensed under this chapter to disclose to a potential purchaser of residential property that a sex offender registered under ORS 163A.010, 163A.015, 163A.020 or 163A.025 resides in the area. [1999 c.732 §2; 2001 c.300 […]
Section 696.815 – Representation of both buyer and seller; obligations.
(1) A real estate licensee may represent both the seller and the buyer in a real estate transaction under a disclosed limited agency agreement, with full disclosure of the relationship under the agreement. (2) A real estate licensee acting pursuant to a disclosed limited agency agreement has the following duties and obligations: (a) To the […]
Section 696.820 – Agency disclosure pamphlet; rules.
(1) The Real Estate Commissioner shall prescribe by rule the format and content of an initial agency disclosure pamphlet. The rules must provide that the initial agency disclosure pamphlet is informational only and may not be construed to be evidence of intent to create an agency relationship. (2) An agent shall provide a copy of […]
Section 696.822 – Liability of principal for act, error or omission of agent or subagent.
(1) A principal is not liable for an act, error or omission by an agent or subagent of the principal arising out of an agency relationship established under ORS 696.805, 696.810, 696.815 or 696.820: (a) Unless the principal participates in or authorizes the act, error or omission; and (b) Only to the extent that: (A) […]
Section 696.835 – Buyer and seller responsibilities.
None of the affirmative obligations of a real estate licensee or agent in a real estate transaction under ORS 696.805, 696.810 or 696.815 relieves a seller or a buyer from the responsibility to protect the seller’s or buyer’s own interests respectively. [1993 c.570 §9] Note: See note under 696.800.
Section 696.840 – Compensation and agency relationships.
The payment of compensation or the obligation to pay compensation to a real estate licensee by the seller or the buyer is not necessarily determinative of a particular agency relationship between a real estate licensee and the seller or the buyer. After full disclosure of agency relationships, a listing agent, a selling agent or a […]
Section 696.845 – Acknowledgment of existing agency relationships form; rules.
When signing an offer to purchase, each buyer shall acknowledge the existing agency relationships, if any. When a seller accepts or rejects an offer to purchase in writing, each seller shall acknowledge the existing agency relationships, if any. An agent to the real property transaction shall obtain the signatures of the buyers and the sellers […]
Section 696.800 – Definitions.
As used in ORS 696.392, 696.600 to 696.785, 696.800 to 696.870 and 696.995, unless the context requires otherwise: (1) “Agent” means: (a) A principal real estate broker who has entered into: (A) A listing agreement with a seller; (B) A service contract with a buyer to represent the buyer; or (C) A disclosed limited agency […]