(a) Except as provided in paragraph (c) of this subsection, the seller and all persons claiming through the seller that were given the required notices pursuant to ORS 93.285 have no further rights in the contract or the property and no person has any right, by statute or otherwise, to redeem the property.
(b) All rights, title and interest in the property held by the seller and any improvements made to the property at the time the declaration of fulfillment is recorded are transferred to the purchaser as though the seller had delivered a fulfillment of deed to the purchaser.
(c) Any claim of title or interest through the seller that was recorded prior to the recording of the contract for transfer or conveyance of an interest in real property or a memorandum of the contract shall maintain its priority and is not extinguished by the declaration of fulfillment.
(2) The failure to give notice to any person described in subsection (1) of this section does not affect the validity of the effects of fulfillment of a contract for sale as to persons so notified. [2017 c.164 §3]