Oregon House Bill 2780 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on July 6 2015 - 100% progression
Action: 2015-07-06 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

Provides that escrow agent or other person that engages in real estate closing escrow may not accept funds, property or documents if principal to real estate closing escrow is 65 years of age or older and selling price of property is more than 20 percent below appraised or assessed value and if escrow agent or other person reasonably believes that principal does not understand nature or terms of transaction. Requires escrow agent or other person that reasonably believes that principal does not understand nature or terms of transaction to report attempted sale as suspected financial exploitation in accordance with elder abuse reporting requirements. Becomes operative January 1, 2016. Declares emergency, effective on passage.

Relating to requirements for real estate closing escrows; declaring an emergency.

Rep. Julie Parrish [R]

Date	Chamber	Action
2015-07-06	House	In committee upon adjournment.
2015-02-12	House	Public Hearing held.
2015-01-16	House	Referred to Consumer Protection and Government Effectiveness.
2015-01-12	House	First reading. Referred to Speaker's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2015R1/Measures/Overview/HB2780
Text	https://olis.oregonlegislature.gov/liz/2015R1/Downloads/MeasureDocument/HB2780/Introduced