Bulletin: OR2011006

Date:
August 01, 2011
To:
All Oregon Issuing Offices
RE:
Oregon Legislative Update

Dear Associates:   

This Bulletin is sent to advise you of two relevant bills that were recently enacted in the State of Oregon as a result of the 2011 legislative session. 

House Bill 3195 – Enacted June 16, 2011

Amends ORS 93.804 and ORS 93.810.  Authorizes county clerk to record instruments presented as electronic image or by electronic means, including recordings made before the effective date of the Act.  This bill has an emergency clause, so it is currently in effect.

Senate Bill 815 – Enacted June 2, 2011

Amends ORS 86.740, 93.030, 93.040, 107.115, 112.465, 112.570 and 125.440.  Authorizes owner of real property to use transfer on death deed to pass real property outside of probate at owner’s death.  Deed must be recorded before the transferor’s death in the county in which the property is located.  Requires a proceeding to contest the capacity of the transferor be commenced not later than 18 months after the transferor’s death.  The effective date of this bill is January 1, 2012. 

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER  AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.

References

Bulletins Replaced:
None
Related Bulletins:
None
Underwriting Manual:
None
Exceptions Manual:
None
Forms:
None