Contracts
Which of the following is a required element for a real estate purchase contract to be valid in Oregon?
AThe purchase price must be typed, not handwritten
BLegal description of the property✓ Correct
CNotarization by a licensed notary
DApproval from the Oregon Real Estate Agency
Explanation
A valid real estate contract in Oregon must identify the property being sold; a legal description or sufficient identification of the property is required. Notarization is not required for the contract itself, though it is required for recording a deed.
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