Final answer:
In Oregon, a principal real estate broker can legally perform the duties of an escrow agent without a separate escrow license as part of their real estate transaction-related duties.
Step-by-step explanation:
The escrow agent verifies the accuracy of the purchase agreement, conducts title searches, and ensures that all necessary documents are in order. Throughout the transaction process, the funds remain securely held by the escrow agent, protecting the buyer's investment until the closing conditions are met.
Under Oregon law, it is true that a principal real estate broker may perform the duties of an escrow agent without obtaining a separate escrow license. This provision allows real estate brokers licensed in the state of Oregon to conduct certain escrow activities, as long as these services are conducted in the course of a real estate transaction they are managing.
This exemption is intended to streamline real estate transactions by allowing professionals who are already involved in the process to handle escrow services without additional licensure, provided they comply with the relevant laws and regulations regarding escrow activities.