Polk County Land Sales Contract Form

Additional Oregon and Polk County documents included at no extra charge:

Where to Record Your Documents

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Cities and Jurisdictions in Polk County

Properties in any of these areas use Polk County forms:

• Dallas
• Falls City
• Grand Ronde
• Independence
• Monmouth
• Rickreall
• Salem

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Use of a Land Sale Contract in Oregon
1. Structure of the Contract
• Buyer (Purchaser): Takes equitable title immediately, gets possession, and agrees to pay the purchase price in installments.
• Seller: Retains legal title until the contract is fully paid.
This is different from a mortgage or trust deed, where title passes to the buyer at closing and the lender only has a lien.

2. The Forfeiture Remedy
Under Oregon law, if the buyer defaults, the seller may elect forfeiture instead of judicial foreclosure. Forfeiture means:
• The contract is canceled;
• The buyer’s interest is terminated;
• The underlying debt is extinguished (the seller can’t sue for deficiency);
• The seller keeps all prior payments (as liquidated damages);
• The buyer loses possession and improvements revert to the seller.
This is a nonjudicial process, It’s defined in ORS 93.905 and governed by ORS 93.905–93.945. Seller may also choose judicial foreclosure, similar to foreclosing a mortgage.

3. Statutory Safeguards for Buyers
• ORS 93.910: Seller cannot enforce forfeiture unless a statutory notice of default is served.
• ORS 93.915: Buyer gets a right to cure (usually 60–120 days depending on how much of the price is already paid). Cure requires paying arrears, costs, and small capped attorney’s fees.
• ORS 93.930: If not cured, seller records an affidavit of forfeiture, which legally ends the buyer’s rights.
• ORS 93.935 & 93.940: Subordinate lienholders must also get notice and have the right to cure to protect their interests.

4. Why Use a Land Sale Contract in Oregon?
• For sellers:
o Keeps legal title until fully paid.
o Faster and less expensive than judicial foreclosure (if default occurs).
o Retains all buyer’s payments if forfeiture happens.

• For buyers:
o Can purchase property without a bank loan.
o Gain equitable ownership and possession upfront.
o Sometimes lower upfront cost compared to conventional financing.

Important: Your property must be located in Polk County to use these forms. Documents should be recorded at the office below.

This Land Sales Contract meets all recording requirements specific to Polk County.

Our Promise

The documents you receive here will meet, or exceed, the Polk County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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