Environmental
What is the 'Oregon Pollution Disclosure Law' and how does it affect real estate transactions?
AA law requiring full air quality testing before any property sale
BOregon requires sellers to disclose known pollution or contamination on or affecting the property in the SPDS✓ Correct
CA law requiring lenders to test for contamination before lending
DA DEQ law requiring contamination disclosure only for industrial properties
Explanation
Oregon's Seller's Property Disclosure Statement requires sellers to disclose known pollution, contamination, or hazardous material issues affecting the property. This includes known petroleum spills, chemical contamination, DEQ involvement, USTs, or any other pollution source. Failure to disclose known pollution can result in rescission of the sale and liability for damages.
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