Bishop v. Waters

Under ORS 105.475, buyers have a right to revoke an agreement for the sale of land until the sale closes. The sale often closes when the parties sign the contract, but never until the title is transferred.

Plaintiff appealed a judgment of the trial court dismissing her claims against Defendants in an action pertaining to a contract for the sale of real property. Plaintiff sued for breach of contract and financial abuse of a vulnerable person. Plaintiff was a permanently disabled woman. Defendants became acquainted with Plaintiff and learned that Plaintiff was looking for a new house and she had $50,000 to purchase a house. Defendants agreed to sell their property with a $37,000 down payment. Approximately a month passed between Plaintiff paying the down payment and signing a contract. Under ORS 105.475, buyers have a right to revoke an agreement for the sale of land if they do not receive a property disclosure statement only until the buyer closes the transaction. The parties disputed when the transaction closed: Plaintiff argued that the transaction did not close until title was transferred to Plaintiff. Oregon courts have decided that installment land sales contracts close when they are signed. Closing of a property transaction does not depend on title being transferred, so Plaintiff's proposed definition of closing was not correct. The trial court did not err in dismissing her complaint. Affirmed.