Bulletin: OR2018002

Dear Associates:

Oregon held a short legislative session in 2018, with very few bills of interest to the title insurance industry. The following are summaries of pertinent bills passed during the 2018 legislative session:

HB 4007 - Recording Fees Increase - First Time Homebuyer Accounts

Creates tax-deductible accounts that first time homebuyers may use to save money for their down payment and other permitted costs. This program is funded by a $40 increase in the base document recording fee from $20 to $60 per document.

Effective: June 2 or June 4, 2018

NOTE: Please speak with your County Recorder to confirm the date each will be instituting the new charges, as we have found variance. June 2 is a Saturday, and June 4 is Monday.

HB 4314 - Removing Discriminatory Language from Real Estate Titles

Creates a specific procedure to allow any property owner to petition a court to remove discriminatory provisions from any deed or covenants affecting their property, and all others affected by the discriminatory documents.

Effective: Upon Governor’s signature

NOTE: While it is unlikely that title insurance personnel will encounter this situation, we can now point customers to this law if they would like to take action. 

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.