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FORM No. 961 BARGAIN AND SALE DEED STATUTORY FORM. BE STEVENS-NESS LAW PUBLISHING CO. PORTLAND OR www.

How to fill out oregon bargain and sale deed pdf form

How to fill out a bargain and sale deed:

1. Begin by gathering all necessary information and documentation, including the names of the grantor (seller) and grantee (buyer), property description, and any relevant legal descriptions.
2. Consult with a real estate attorney or title company to ensure the deed is properly drafted and meets all legal requirements.
3. Complete the deed form by inserting the necessary information in the appropriate fields. This may include the grantor's name and address, grantee's name and address, and a legal description of the property.
4. Sign the deed in the presence of a notary public, who will verify the identities of the parties involved and witness their signatures.
5. Record the deed with the appropriate county office or registrar of deeds. This step is crucial to ensure the deed is legally enforceable and provides notice to the public of the transfer of ownership.

Who needs a bargain and sale deed?

1. Buyers and sellers of real estate typically require a bargain and sale deed.
2. This type of deed is commonly used in situations such as property transfers, gift transfers, or transfers between family members or related parties.
3. Bargain and sale deeds are also used in foreclosure proceedings or when transferring property from a deceased person's estate to their heirs.
4. It is important to consult with a real estate attorney or title company to determine the appropriate type of deed for your specific situation.

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Instructions and Help about printable bargain and sale deed oregon

Hi it's John Goodman again we are talking about bargain and sale deeds two topics what the heck is a bargain and sale date number one and number two when might you use one okay what the heck is a bargain and sale date a bargain and sale deed is essentially a quitclaim deed a quit claim deed that passes what lawyers call after a quieter title a quitclaim deed is a deed where the seller is saying I don't know whether I own this thing or not I'm not making any warranties of title if I do own it here it is and a quitclaim deed conveys whatever the granter has at the moment of the conveyance a bargain and sale deed is essentially it's a little of an oversimplification but a bargain and sale deed is essentially a quitclaim deed that passes what is called after a quieter title it passes the title that the granter has at the moment of the conveyance plus any title that the granter receives of the described property after the conveyance wow that's a weird notion John can you give us an example that helps make this clearer to us yes, so now we're in part two where might you use a quitclaim deed imagine the seller has entered in to a contract to sell a property to husband and wife the seller has remorse that he entered into this contract why because the seller has a backup buyer who will pay that seller 40000 more and so the seller has absolutely no reason to cooperate with these fighters whatsoever as the buyers' transaction as buyer number ones transaction is progressing the buyers learn that they're going to have problems getting a loan if the husband remains on title, so they want to amend the contract to take the husband off of title so that the seller just conveys to the wife so that the lender knows that the wife will be the only titleholder and the only borrower on the loan the seller however doesn't have any reason to cooperate with these refuses to amend the contract when it says no I signed a contract where I'm obligated convey I'm only obligated to convey title the husband and wife, and I am not changing that at closing I am going to convey title to husband and wife what can you do to get that transaction closed notwithstanding the competing demands of the sellers perspective and the buyers lenders perspective here's something way that way you can do you can say to the seller fine today's Monday we're closing on Friday you convey title to husband and wife then and without sellers cooperation at all remember we're trying to have things set up so that the buyers' lender knows that the husband won't be entitled at the time the bank closed the loans the money for the purchase so what husband does is it on Wednesday husband records a bargain and sale deed conveying title to his wife how can he do that he doesn't have title, but you can do that because of bargain and sale deed there are no warranties of title what husband is essentially saying is dear whatever title I later received to this property automatically passes to you and that way the...

People Also Ask about note

What are the different types of property deeds in Oregon?

Since 1973, Oregon has recognized four statutory deed forms. The warranty deed is the most commonly used in arm's-length transactions. The other deed forms are the special warranty deed, the bargain and sale deed, and the quitclaim deed.

What is another name for a bargain and sale deed?

quitclaim deed. A bargain and sale deed implies or infers that the seller has ownership of the property and can transfer its title, and is most common in foreclosure or tax sales.

How do I write a sale deed agreement?

A sale deed includes the following details: Name and address of the buyer and seller. Detailed description of the property. Total payment to be made, mode of payment, date when the payment is to be made. Date of handing over of property documents. Other terms and conditions of the sale.

What is a bargain and sale deed in Oregon?

A Bargain and Sale Deed is used to dedicate private land for public use. It is most commonly used for tracts of land that contain stormwater facilities.

What is the meaning of bargain and sale deed?

A bargain and sale deed indicates that only the seller of a property holds the title and has the right to transfer ownership. This type of deed offers no guarantees for the buyer against liens or other claims to the property, so the buyer could be responsible for these issues if they turn up.

How do I fill out an Oregon quitclaim deed?

How to Write an Oregon Quitclaim Deed Preparer's name and address. Full name and mailing address of the person to whom the recorded deed should be sent. County where the real property is located. Grantor's name and address. Grantee's name and address. The consideration paid for the property.

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What is bargain and sale deed?

A bargain and sale deed is a legal document used in real estate transactions that conveys the title of a property from a seller to a buyer without any warranties or guarantees regarding the title's quality.

Who is required to file bargain and sale deed?

Typically, the seller is required to file the bargain and sale deed with the appropriate local government office, such as the county recorder or assessor's office, to officially record the transfer of property ownership.

How to fill out bargain and sale deed?

To fill out a bargain and sale deed, the seller must provide relevant information such as the names of both parties, a legal description of the property, the consideration (price), and signatures from the seller and possibly a witness or notary.

What is the purpose of bargain and sale deed?

The purpose of a bargain and sale deed is to transfer ownership of real property from one party to another and to provide a public record of this transfer.

What information must be reported on bargain and sale deed?

The bargain and sale deed must report information including the names of the grantor and grantee, a legal description of the property, the date of transfer, and the signature of the grantor.