OAR 813-115-0060. Recording Notices of Right of First Refusal

(1) After submitting an offer to the property owner as outlined in ORS 456.814, a qualified purchaser may record—in the real property records of the county or counties within which the relevant participating property is located—a notice of right of first refusal, as provided by ORS 456.814, in a form provided by and available from OHCS. (2) If no qualified purchaser has recorded a right of first refusal, OHCS may record the right of first refusal per 456.814(7) without delivering an offer to purchase. (3) A qualified purchaser may assign their interest in a right of first refusal to another qualified purchaser by recording—in the real property records of the county or counties within which the relevant participating property is located—a notice of assignment of the right of first refusal. (4) A qualified purchaser is not required to exercise a right of first refusal and submit a matching offer under ORS 456.819. (5) A qualified purchaser shall provide a release of the recorded right of first refusal to the property owner upon: (a) Transfer of ownership to a third party or qualified purchaser; or (b) Expiration of the term of the right of first refusal if there is no transfer of ownership; or (c) At any time as determined by the qualified purchaser, at their sole discretion prior to (a) or (b) above.