Buyer's Request for Accounting from Seller under Contract for Deed - Oregon 2025

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In a straight land contract, you receive equitable title so that you gain equity as you make payments on the loan from the seller. However, the seller still holds legal title until the property is paid off. This could cause issues around who owns the home if any legal disputes or insurance claims need to be filed.
It actually means that the property is being transferred via deed without money exchanging hands. However, not all no consideration deeds are exempt from transfer and recordation taxes.
A warranty deed guarantees that the seller holds clear title to the property, free from any liens or encumbrances, and has the legal right to transfer ownership. However, while a warranty deed is a powerful legal instrument, its not the sole proof of ownership.
Consideration is the whats in it for me element of the deal. It is what each party gives the other party as part of the bargain. Consideration could be the payment of money, the discharge of debt, the performance of services, or anything else of value. Real estate may be transferred with or without consideration.
Oregon law requires deeds conveying complete title to real estate to identify the true and actual consideration paid for the transfer, stated as a dollar amount on a deeds first page.
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Ownership is generally changed via a document recorded with the County Clerks office. Call the office at 541-440-4325 for more information. We receive copies of those recordings and identify the property being transferred from the legal description on the deed and check the title of record with the new document.
The buyer is also responsible for property taxes, maintenance, and other upkeep associated with the house in both financing scenarios. However, there are fundamental differences between these two types of financing that are important to understand.

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