Owner-Finance Land Contracts in Oregon
Overview
Oregon has a dedicated statutory framework for the forfeiture of land sale contracts, found at ORS § 93.905 through § 93.945. The framework provides graduated cure periods that lengthen as the buyer pays a greater percentage of the purchase price.
Governing Law
The dedicated statute is ORS § 93.905 to § 93.945 (Forfeiture of Land Sale Contracts). Conveyancing is in ORS Chapter 93. Mortgages and trust deeds are in ORS Chapter 86. The Statute of Frauds is at ORS § 41.580.
Default and Cure Period
The Oregon statute provides graduated cure periods based on buyer equity. Under ORS § 93.915, the basic cure period is 60 days from service of the notice of default. Where the buyer has paid 25% or more, the cure period is generally 90 days. Where the buyer has paid 50% or more, the cure period is generally 120 days. The notice must be in statutorily prescribed form.
Seller Remedies on Default
The seller's primary remedy is statutory forfeiture under ORS 93.905+: serve notice in statutory form, observe the applicable cure period, and (if no cure) record an affidavit of forfeiture. Alternatively, the seller may pursue judicial foreclosure or specific performance.
Vacant Land vs. Residential
Oregon's land sale contract statute applies generally, including vacant land.
Practical Notes for Sellers
- Use Oregon counsel to draft the contract with explicit reference to ORS 93.905+.
- Recognize that cure periods lengthen with buyer equity.
- Record the contract or memorandum at closing.
- Compliance with notice form and cure-period rules is critical — procedural defects can void a forfeiture.
Disclaimer
This page is a public-law summary for general informational purposes only. It is not legal advice. Owner-finance transactions are state-specific and fact-specific. Engage a licensed attorney in the parcel's state before drafting, signing, or recording any agreement.