Real Estate Law

Oregon Water Right - Prior Appropriation:

"First in time, first in right."

OAR 461-135-0832(20) Joint Tenancy

"Joint tenancy" means ownership of property held under circumstances that entitle one or more owners to the whole of the property on the death of the other owner(s), including, but not limited to, joint tenants with right of survivorship and tenants by the entirety.

Regulation of Special Land Types

"Special land types" refers to land that may be subject to special laws or regulations, such as habitats for endangered species, wetlands, floodplains, and more. In general, construction and development in these types of protected areas is limited or, at the very least, subject to specific permitting requirements. Any conditions or restrictions upon the land will be covenanted unto any future uses of the land until, and only if, the land is reclassified into a non-protected status.

OAR 461-135-0832(36) Tenancy in Common

"Tenancy in common" means ownership of real or personal property by an individual together with one or more other persons which ownership interest shall not pass by survivorship upon the death of the individual.

Common Law Basis for the Condominium Concept

"The fundamental basis for the sharing, management, and maintenance of property for the benefit of all concerned lies within basic real property doctrines such as covenants running with the land and equitable servitudes" (William P. Sklar, Esq., Concept of Condominium Ownership, 1995). In the critical case of Neponsit Property Owners' Association v. Emigrant Industrial Sav. Bank, the Court ruled: "Regardless of the intention of the parties, a covenant will run with the land and will be enforceable against a subsequent purchaser of the land at the suit of one who claims the benefit of the covenant, only if the covenant complies with certain legal requirements. These requirements rest upon ancient rules and precedents. The age-old essentials of a real covenant, aside from the form of the covenant, may be summarily formulated as follows: (1) it must appear that grantor and grantee intended that the covenant should run with the land; (2) it must appear that the covenant is one "touching" or "concerning" the land with which it runs; (3) it must appear that there is "privity of estate" between the promisee or party claiming the benefit of the covenant and the right to enforce it, and the promisor or party who rests under the burden of the covenant. (Neponsit Property Owners' Ass'n v. Emigrant Industrial Sav. Bank, 15 N.E.2d 793, 795 (N.Y. 1938), 118 A.L.R. 973.) At issue in this case was an affirmative covenant to pay money. The Court ruled that this was, in fact, a covenant that would run with the land as defined in Common Law, because the money to be paid under the covenant was for the maintenance and upkeep of the land and therefore met the criteria that the covenant "touch" or "be concerned with" the land. This principle has since been consistently applied to most covenants and guidance concerning condominiums.

ORS 223.295 Limit on city indebtedness

(1) A city may incur indebtedness in the form of general obligation bonds and general obligation interim financing notes pursuant to ORS 223.235 to an amount which shall not exceed 0.03 of the latest real market valuation of the city. (2) The general obligation bonds and general obligation interim financing notes issued pursuant to ORS 223.235 shall be determined by deducting from the sum total of outstanding general obligation bonds and general obligation interim financing notes issued pursuant to ORS 223.235, the aggregate of sinking funds or other funds applicable to the payment thereof, less the aggregate of overdrafts, if any, in the related improvement bond interest fund.

ORS 701.320 Offer of warranty; withdrawal of contract offer

(1) A contractor that enters into a contract to construct a new residential structure or zero-lot-line dwelling, or to sell a new residential structure or zero-lot-line dwelling constructed by the contractor, shall make a written offer to the property owner or original purchaser of the structure or dwelling of a warranty against defects in materials and workmanship for the structure or dwelling. The property owner or original purchaser of the structure or dwelling may accept or refuse the offer of a warranty by the contractor. If a contractor makes the written offer of a warranty before the contractor and the property owner both sign a written construction contract and the property owner refuses the offered warranty, the contractor may withdraw the offer to construct the structure or dwelling. (2) Subsection (1) of this section does not apply to a residential structure that is a manufactured dwelling as defined in ORS 446.003.

ORS 62.440: Books and Records; Attorney Fees

(1) A cooperative shall keep correct and complete books and records of account, and shall keep minutes of the proceedings of its members, board and executive committee. It shall keep at its principal office records of the names and addresses of all members and shareholders. At any reasonable time, any member or shareholder, or the agent or attorney of any member or shareholder, upon written notice stating the purposes thereof, may examine for any proper purpose any books or records pertinent to the purpose specified in the notice and may make extracts therefrom, all in accordance with any reasonable conditions prescribed by the board restricting the disclosure, dissemination or use by any member or shareholder, or any agent or attorney of any member or shareholder, of any information therein contained. The board may deny a request to examine books and records if the board determines that the purpose is not directly related to the business or affairs of the cooperative and is contrary to the best interests of the cooperative. (2) In any action or proceeding to enforce the rights of members or shareholders provided in this section, the court may award reasonable attorney fees to the prevailing party.

ORS 93.800 Matter not to be Recorded when Accompanying Short Form Instrument; Liability for Nonrecording

(1) A county clerk may not record matter accompanying a short form instrument presented for recording if the matter: (a) Purports to be copied or reproduced from a master form instrument recorded and identified as required by ORS 93.780; (b) Is preceded by the words "do not record" or "not to be recorded"; and (c) Is separated from the short form instrument so that it will not appear on a photographic reproduction of any page containing a part of the short form instrument. (2) Notwithstanding any law to the contrary, a county clerk is not liable for refusing to record matter the county clerk is prohibited by this section from recording.

ORS 92.055 Requirements for unsurveyed and unmonumented parcels on plats

(1) A parcel larger than 10 acres that is created outside an urban growth boundary is not required to be surveyed and monumented and shall comply with the following: (a) The approximate acreage of each unsurveyed parcel shall be shown; and (b) Any unsurveyed parcel shall have the words "unsurveyed" placed in bold letters adjacent to the parcel number. (2) Unsurveyed parcels need not comply with ORS 92.050 (5), (7) and (8).

ORS 92.014 Approval of city or county required for specified divisions of land

(1) A person may not create a street or road for the purpose of subdividing or partitioning an area or tract of land without the approval of the city or county having jurisdiction over the area or tract of land to be subdivided or partitioned. (2) Notwithstanding ORS 92.175, an instrument dedicating land to public use may not be accepted for recording in this state unless the instrument bears the approval of the city or county authorized by law to accept the dedication.

ORS 93.635 Acknowledgment and Recording of Instruments Contracting to Convey Fee Title

(1) All instruments contracting to convey fee title to any real property, at a time more than 12 months from the date that the instrument is executed and the parties are bound, shall be acknowledged, in the manner provided for acknowledgment of deeds, by the conveyor of the title to be conveyed. Except for those instruments listed in subsection (2) of this section, all such instruments, or a memorandum thereof, shall be recorded by the conveyor not later than 15 days after the instrument is executed and the parties are bound thereby. (2) The following instruments contracting to convey fee title to any real property may be recorded as provided in subsection (1) of this section, but that subsection does not require such recordation of: (a) Earnest money or preliminary sales agreements; (b) Options; or (c) Rights of first refusal.

ORS 92.140 Indexing of plats

(1) All subdivision and partition plats shall be indexed in the recording indices of the county. The declarations to such plats shall also be indexed in the indices of Records of Deeds for the county. When the subdivision and partition plats are so recorded and indexed, they shall be the legal record of all subdivision and partition plats. (2) Counties with a consolidated index may index plats in the consolidated index. The declarants shall be indexed as the direct parties and the plat name shall be indexed as the indirect party. (3) The subdivision and partition plats shall be preserved as the permanent record of the county.

ORS 215.760 Agricultural buildings on land zoned for forest use or mixed farm and forest use

(1) An agricultural building, as defined in ORS 455.315, customarily provided in conjunction with farm use or forest use is an authorized use on land zoned for forest use or for mixed farm and forest use. (2) A person may not convert an agricultural building authorized by this section to another use. [2013 c.73 §2]

ORS 87.010 Construction Liens; Who is Entitled to Lien

(1) Any person performing labor upon, transporting or furnishing any material to be used in, or renting equipment used in the construction of any improvement shall have a lien upon the improvement for the labor, transportation or material furnished or equipment rented at the instance of the owner of the improvement or the construction agent of the owner. (2) Any person who engages in or rents equipment for the preparation of a lot or parcel of land, or improves or rents equipment for the improvement of a street or road adjoining a lot or parcel of land at the request of the owner of the lot or parcel, shall have a lien upon the land for work done, materials furnished or equipment rented. (3) A lien for rented equipment under subsection (1) or (2) of this section shall be limited to the reasonable rental value of the equipment notwithstanding the terms of the underlying rental agreement. (4) Trustees of an employee benefit plan shall have a lien upon the improvement for the amount of contributions, due to labor performed on that improvement, required to be paid by agreement or otherwise into a fund of the employee benefit plan. (5) An architect, landscape architect, land surveyor or registered engineer who, at the request of the owner or an agent of the owner, prepares plans, drawings or specifications that are intended for use in or to facilitate the construction of an improvement or who supervises the construction shall have a lien upon the land and structures necessary for the use of the plans, drawings or specifications so provided or supervision performed. (6) A landscape architect, land surveyor or other person who prepares plans, drawings, surveys or specifications that are used for the landscaping or preparation of a lot or parcel of land or who supervises the landscaping or preparation shall have a lien upon the land for the plans, drawings, surveys or specifications used or supervision performed.

ORS 305.990 Criminal penalties

(1) Any person who willfully presents or furnishes to the Department of Revenue any statement required under ORS 305.160, which statement is false or fraudulent, commits perjury and upon conviction shall be punished as provided by law therefor. (2) Any person who gives testimony before the Director of the Department of Revenue which is false or fraudulent, commits perjury and upon conviction shall be punished as provided by law therefor. (3) Any public officer who neglects or refuses to perform any of the duties imposed on the public officer by law as to the assessment, levying or collection of taxes commits a Class A misdemeanor. (4) Violation of ORS 305.815 is a Class A misdemeanor. (5) Violation of ORS 305.260 is a Class A misdemeanor. If the offender is an officer or employee of the state the offender shall be dismissed from office and shall be incapable of holding any public office in this state for a period of five years thereafter. [Formerly 306.990]

ORS 92.180 Authority to review replats

(1) Each agency or body authorized to approve subdivision or partition plats under ORS 92.040 shall have the same review and approval authority over any proposed replat of a recorded plat. (2) Nothing in this section regarding replatting shall be construed to allow subdividing or partitioning of land without complying with all the applicable provisions of this chapter.

ORS 92.215 Review authorized; manner

(1) Each agency or body authorized to approve subdivision plats under ORS 92.040 may: (a) Review each subdivision approved on or after October 5, 1973, after the expiration of 10 years after the date of such approval. (b) Review each subdivision plat approved more than 10 years prior to October 5, 1973. (2) Each review conducted pursuant to subsection (1) of this section shall be conducted in the manner and subject to the conditions prescribed in ORS 92.225.

ORS 87.025 - 87.093

(1) Every improvement except an improvement made by a person other than the landowner in drilling or boring for oil or gas, constructed upon lands with the knowledge of the owner shall be deemed constructed at the instance of the owner, and the interest owned shall be subject to any lien perfected pursuant to the provisions of ORS 87.001 to 87.060 and 87.075 to 87.093, unless the owner shall, within three days after the owner obtains knowledge of the construction, give notice that the owner will not be responsible for the same by posting a notice in writing to that effect in some conspicuous place upon the land or the improvement situated thereon. (2) Subsection (1) of this section does not apply to a lien prohibited under ORS 87.037.

ORS 87.018 Delivery of Notices

(1) Except as provided in ORS 87.093, all notices required under ORS 87.001 to 87.060 and 87.075 to 87.093 must be in writing and be delivered in person or by registered or certified mail. (2) A notice that must be given under ORS 87.001 to 87.060 or 87.075 to 87.093 to a mortgagee must be delivered to the mortgagee only if the name and address of the mortgagee appear in a mortgage of record or a trust deed of record as required under ORS 205.234 (1)(b) or in the instrument that assigns a mortgage or trust deed as required under ORS 205.234 (1)(g).

ORS 88.120 When foreclosure not barred by ORS 88.110

(1) Foreclosure of a mortgage on real property is not barred by ORS 88.110 when the mortgage is held of record by the State of Oregon or when all the following facts exist at the time the foreclosure suit is commenced: (a) Any portion of the mortgage debt, or any interest thereon, has been voluntarily paid within the 10 years immediately preceding commencement of the suit. (b) The original mortgagor still owns the mortgaged property. (c) No lien or right of a third person has attached to the property after the expiration of the 10-year period referred to in ORS 88.110. (2) A mortgage that is not enforceable by the transferor at the time of transfer to the State of Oregon does not become enforceable thereafter under this section.

ORS 92.018 Buyer's remedies for purchase of improperly created unit of land

(1) If a person buys a unit of land that is not a lawfully established unit of land, the person may bring an individual action against the seller in an appropriate court to recover damages or to obtain equitable relief. The court shall award reasonable attorney fees to the prevailing party in an action under this section. (2) If the seller of a unit of land that was not lawfully established in a county that involuntarily acquired the unit of land by means of foreclosure under ORS chapter 312 of delinquent tax liens, the person who purchases the unit of land is not entitled to damages or equitable relief.

ORS 306.265 Electronic filing of exemption and special assessment applications; rules

(1) If an exemption or special assessment of property that is otherwise subject to assessment and taxation requires the filing of a written application with the Department of Revenue or a county assessor in order to be granted, the department may prescribe rules that permit the filing of the application and related written material, including signatures and verifications, by electronic means and may prescribe the conditions and requirements that must be met in order for an electronic filing to constitute a valid application for exemption or special assessment. (2) No application for exemption or special assessment that is filed electronically shall constitute a valid application unless the department has identified by rule that the exemption or special assessment is one for which electronically filed applications may be accepted.

ORS 18.904 Order required for sale of residential property; exceptions

(1) If the judgment debtor is a natural person, residential property may be sold under a writ of execution only after the entry of a court order authorizing the sale. (2) This section does not apply to writs of execution that direct the sheriff to sell specific property pursuant to the terms of the judgment. (3) This section does not apply to a writ of execution issued to enforce a judgment foreclosing: (a) A construction lien for work, labor or material done or furnished exclusively for the improvement of the property to be sold; (b) A lawfully executed purchase money lien against the property to be sold; or (c) A lawfully executed mortgage or trust deed on the property to be sold.

ORS 92.490 Civil penalty

(1) In addition to any other penalties provided by law, the Real Estate Commissioner may impose a civil penalty for violation of the provisions of ORS 92.305 to 92.495. No civil penalty shall exceed $1,000 per violation. (2) Civil penalties under this section shall be imposed as provided in ORS 183.745.

ORS 408.370 Application of other statutes

(1) In addition to the other uses for the Oregon Housing Fund set forth in ORS 458.600 to 458.665, financial support for an Oregon Veterans' Home is a permitted use of moneys from the Oregon Housing Fund. (2) Notwithstanding ORS 442.315 and 442.325, an Oregon Veterans' Home is not subject to any certificate of need requirement.

ORS 87.386 Costs and attorney fees in foreclosure

(1) In suits to foreclose a lien created by ORS 87.352 to 87.362, the court, upon entering judgment for the lien claimant, shall allow as part of the lien all moneys paid for the filing or recording of the lien as provided in ORS 87.910. (2) In suits to foreclose a lien created by ORS 87.352 to 87.362, the court shall allow reasonable attorney fees at trial and on appeal to the prevailing party.

ORS 92.175 Methods by which certain land may be provided for public purposes

(1) Land for property dedicated for public purposes may be provided to the city or county having jurisdiction over the land by any of the following methods: (a) By dedication on the land subdivision plat; (b) By dedication on the partition plat, provided that the city or county indicates acceptance of the dedication on the face of the plat; or (c) By a separate dedication or donation document on the form provided by the city or county having jurisdiction over the area of land to be dedicated. (2) Notwithstanding subsection (1) of this section, utility easements in partition and condominium plats may be granted for public, private and other regulated utility purposes without an acceptance from the governing body having jurisdiction.

ORS 92.042 Governing body having jurisdiction to approve plans, maps or plats

(1) Land within six miles outside of the corporate limits of a city is under the jurisdiction of the city for the purpose of giving approval of plans, maps and plats of subdivisions and partitions under ORS 92.040 and 227.110. However, unless otherwise provided in an urban growth area management agreement jointly adopted by a city and county to establish procedures for regulating land use outside the city limits and within an urban growth boundary acknowledged under ORS 197.251, when the governing body of a county has adopted ordinances or regulations for subdivision and partition control as required by ORS 92.044, land in the county within the six-mile limit shall be under the jurisdiction of the county for those purposes. (2) Land over six miles from the corporate limits of a city is under the jurisdiction of the county for the purpose of giving approval of plans, maps and plats for subdivisions and partitions under ORS 92.040.

ORS 197.178 Development applications; urban residential density; reporting to Department of Land Conservation and Development

(1) Local governments with comprehensive plans or functional plans that are identified in ORS 197.296 (1) shall compile and report annually to the Department of Land Conservation and Development the following information for all applications received under ORS 227.175 for residential permits and residential zone changes: (a) The number of applications received for residential development, including the net residential density proposed in the application and the maximum allowed net residential density for the subject zone; (b) The number of applications approved, including the approved net density; and (c) The date each application was received and the date it was approved or denied. (2) The report required by this section may be submitted electronically. [1997 c.763 §5; 2011 c.354 §1]

ORS 62.145: Membership

(1) Membership in a cooperative is conditioned on ownership of a share of membership stock or payment of a membership fee as set forth in the articles. If the articles so provide, the bylaws may authorize a procedure by which the membership fee initially stated in the articles pursuant to ORS 62.513 (1)(c) may be changed without filing amended or restated articles. The bylaws of a cooperative may authorize membership conditioned upon payment of part of the membership fee or payment for part of the membership stock subscribed for and compliance with an agreement to pay the balance. (2) Qualifications for membership and method of acceptance of members shall be as set forth in the bylaws of the cooperative. (3) Bylaws may provide for termination of membership and the conditions and terms thereof.

Four general factors affect accessibility:

(1) Mobility, as in physical movement. Mobility can be provided by walking, biking, public transportation, carpooling, taxis, cars, and other modes of transportation. (2) Mobility substitutes, such as telecommunications (like the Internet) and delivery services. These can provide access to some goods and activities, particularly those that are information based. (3) Transportation system connectivity. This refers to the directness of links and the density of connections in a path or road network. (4) Land use, meaning the geographic distribution of activities and destinations. When common destinations are dispersed over a large area, this increases the amount of mobility required to access different goods, services, and activities. Increases in mobility requirements tend to reduce accessibility.

ORS 92.016 Sale or negotiation to sell lot or parcel prior to approval of tentative plan

(1) No person shall sell any lot in any subdivision with respect to which approval is required by any ordinance or regulation adopted under ORS 92.044 and 92.048 until such approval is obtained. No person shall negotiate to sell any lot in a subdivision until a tentative plan has been approved. (2) A person may negotiate to sell any parcel in a partition with respect to which approval of a tentative plan is required by any ordinance or regulation adopted under ORS 92.044 or 92.046, respectively, prior to the approval of the tentative plan for the partition, but no person may sell any parcel in a partition for which approval of a tentative plan is required by any ordinance or regulation adopted under ORS 92.044 or 92.046, respectively, prior to such approval.

ORS 92.410 Review of subdivisions for which public report issued; revised public report; compliance with ORS 92.305 to 92.495

(1) Notwithstanding the effective date of chapter 643, Oregon Laws 1975, prior to February 1, 1976, the Real Estate Commissioner may review any subdivision for which a public report has been issued and is dated prior to September 13, 1975, and when the commissioner considers it necessary for the protection of the public from fraud, deceit or misrepresentation, the commissioner may, after notice to the subdivider, issue a revised public report for the subdivider and subsequent developers of interests in the subdivision to comply with the provisions of ORS 92.305 to 92.495 as though the public report had been issued and dated after September 13, 1975. (2) Any subdivision for which a public report has been issued and is dated prior to September 13, 1975, and for which the commissioner has not issued a revised public report under subsection (1) of this section prior to February 1, 1976, shall not be required to comply with the amendments to ORS 92.305 to 92.495 and made by chapter 643, Oregon Laws 1975.

ORS 93.610 Separate Books for Recording Deeds and Mortgages; Consolidated Index

(1) Separate books shall be provided by the county clerk in each county for the recording of deeds and mortgages. In one book all deeds left with the clerk shall be recorded at full length, or as provided in ORS 93.779 to 93.802, with the certificates of acknowledgment or proof of their execution, and in the other all mortgages left with the county clerk shall in like manner be recorded. All other real property interests required or permitted by law to be recorded shall be recorded in the records maintained under ORS 205.130 or in records established under any other law. (2) Counties maintaining a consolidated index shall record deeds and mortgages and index them in the consolidated index in such a manner as to identify the entries as a deed or mortgage record. All other real property interests required or permitted by law to be recorded shall be recorded in the records kept and maintained under ORS 205.130 or in records established under any other law.

ORS 92.460 Blanket encumbrance permitted only in certain circumstances

(1) Subject to the provisions of ORS 92.425, no lot, parcel or other interest in a subdivision or series partition shall be sold by a subdivider, series partitioner or developer subject to a blanket encumbrance unless there exists in the blanket encumbrance or other supplementary agreement a provision which by its terms shall unconditionally provide that the purchaser or lessee of a lot, parcel or other interest can obtain legal title or other interest bargained for, free and clear of the blanket encumbrance, upon compliance with the terms and conditions of the purchase or lease. (2) In lieu of the requirement of subsection (1) of this section, the subdivider, series partitioner or developer shall conform to any alternative requirement or method which the Real Estate Commissioner deems acceptable to carry into effect the intent and provisions of this section.

ORS 305.150 Closing agreements

(1) The Department of Revenue is authorized to enter into an agreement in writing with any person relating to the liability of such person, or of the person or estate for whom the person acts, for any taxable period open to adjustment under the pertinent statutes of limitation, in respect of any revenue measure which the department is required to administer. (2) Such agreement shall be final and conclusive on the date agreed to, and, except upon a showing of fraud or malfeasance or misrepresentation of a material fact, the question, issue or case shall not be reopened as to the matters agreed upon, and, in any action, suit or proceeding, such agreement, or any determination, assessment, collection, refund, abatement or credit made in accordance therewith shall not be annulled, modified, set aside or disregarded. [Formerly 306.720]

ORS 306.135 Base map system; Oregon Land Information System Advisory Committee

(1) The Department of Revenue shall develop a base map system to facilitate and improve the administration of the ad valorem property tax system. (2) In developing the base map system, the department shall be advised by an advisory committee that is hereby created and that shall be known as the Oregon Land Information System Advisory Committee. The advisory committee shall advise the department concerning the administrative and public needs related to the development of the base map system. (3) The advisory committee shall consist of individuals appointed to the committee by the Director of the Department of Revenue.

ORS 305.060 Offices of department; equipment and supplies

(1) The Department of Revenue shall maintain its principal offices in the state capital and shall be furnished with suitable office quarters under ORS 276.004. The department may maintain offices or conduct its business in other places in the state in order to facilitate the discharge of its functions. (2) Necessary printing for the department shall be performed in the same manner as other state printing. All necessary office equipment and supplies required by the department shall be purchased from the appropriation made for the salaries and the general and contingent expenses of the department.

ORS 305.120 Enforcement of tax laws

(1) The Department of Revenue shall see that revenue officers comply with the tax and revenue laws, that all taxes are collected, that complaint is made against any person violating such laws and that penalties prescribed by such laws are enforced. (2) The Director of the Department of Revenue may call upon the district attorney or Attorney General to institute and conduct prosecutions for violations of the laws in respect to the assessment and taxation of property and the collection of public taxes and revenues.

ORS 408.385 Third Oregon Veterans' Home; planning for and development of fourth Oregon Veterans' Home

(1) The Director of Veterans' Affairs shall establish a third Oregon Veterans' Home in Roseburg, in addition to the two facilities authorized by law on July 17, 1995. (2) The director may seek federal grant funds from the United States Department of Veterans Affairs for the purpose of establishing the third Oregon Veterans' Home in Roseburg. (3) If the director determines that three facilities will not be sufficient to provide for the needs of the veterans of Oregon, the director may begin planning for and developing one additional Oregon Veterans' Home.

ORS 92.205 Policy

(1) The Legislative Assembly finds that many subdivisions for which plats have been approved and recorded have not been developed and that many such subdivisions were approved prior to the adoption of a comprehensive plan, zoning regulations and ordinances and modern subdivision control standards by the jurisdiction within which the lands described in the subdivision plats are situated. (2) The Legislative Assembly finds, therefore, that it is necessary for the protection of the public health, safety and welfare to provide for the review of undeveloped subdivisions for the purpose of modifying such subdivisions, if necessary, to comply with the current comprehensive plan, zoning ordinances and regulations and modern subdivision control standards, or, if such modification is not feasible, of vacating the nonconforming, undeveloped subdivisions and to vacate any lands dedicated for public use that are described in the plat of each such vacated subdivision.

ORS 92.313 Policy; construction; citation

(1) The Legislative Assembly finds that the development of new subdivisions and series partitions and the promotion of sales and leases of such property are now largely uncontrolled and unregulated in this state and that a need exists to protect the public from fraud, deceit and misrepresentation. (2) The provisions of ORS 92.305 to 92.495 are in addition to, and not in lieu of, the existing provisions of ORS 92.010 to 92.192. (3) ORS 92.305 to 92.495 may be cited as the Oregon Subdivision and Series Partition Control Law.

ORS 306.132 Oregon Land Information System Fund

(1) The Oregon Land Information System Fund is created, separate and distinct from the General Fund. (2) Moneys in the Oregon Land Information System Fund are continuously appropriated to the Department of Revenue for the purpose of funding a base map system to be used in administering the ad valorem property tax system.

ORS 408.380 Application of other statutes to second Oregon Veterans' Home

(1) The Oregon Veterans' Home authorized by section 1, chapter 591, Oregon Laws 1995, is subject to all state laws and administrative rules and all federal laws and administrative regulations to which long term care facilities operated by nongovernmental entities are subject, except for the requirement to obtain a certificate of need under ORS 442.315 from the Oregon Health Authority. (2) As used in this section, "long term care facility" has the meaning given that term in ORS 442.015.

ORS 92.385 Examination; public report; waiver of examination in other state

(1) The Real Estate Commissioner may make an examination of any subdivision or series partition subject to ORS 92.305 to 92.495 to be offered for sale or lease and may make a public report of the commissioner's findings. If a subdivision or series partition is located within this state and if no report is made within 45 days after examination of the subdivision or series partition, the report shall be deemed waived. (2) The commissioner may waive an examination of a real estate subdivision located in another state only when that state has an existing subdivision law which provides for the examination of and a public report on the real estate subdivision and only where that state will waive examination of a real estate subdivision or series partition located within this state and will accept in lieu thereof a report prepared by the commissioner under subsection (1) of this section.

ORS 93.680 Patents, Judgments and Official Grants; Recordability; Evidence

(1) The following are entitled to be recorded in the record of deeds of the county in which the lands lie, in like manner and with like effect as conveyances of land duly acknowledged, proved or certified: (a) The patents from the United States or of this state for lands within this state. (b) Judgments of courts in this state requiring the execution of a conveyance of real estate within this state. (c) Approved lists of lands granted to this state, or to corporations in this state. (d) Conveyances executed by any officer of this state by authority of law, of lands within this state. (2) The record of any such patent, judgment, approved lists or deeds recorded, or a transcript thereof certified by the county clerk in whose office it is recorded, may be read in evidence in any court in this state, with like effect as the original.

ORS 92.178 Creation of parcel previously approved but not acted upon

(1) The governing body of a county may approve an application requesting formation of one parcel if the county issued a land use decision approving the parcel prior to January 1, 1994, and: (a) A plat implementing the previous land use decision was not recorded; or (b) A condition of approval of the previously approved land use decision requiring consolidation of adjacent lots or parcels was not complied with by a previous owner of the land. (2) An application under this section is not subject to ORS 215.780. (3) Approval of an application under this section does not affect the legal status of land that is not the subject of the application. (4) As used in this section: (a) "Lot" has the meaning given the term in ORS 92.010. (b) "Parcel" has the meaning given the term in ORS 92.010.

ORS 312.170 Municipal or other public corporation removing property from foreclosure list or proceeding or redeeming; additional lien

(1) The governing body of any municipal or other public corporation, having a lien on any real property included in a foreclosure list or proceeding, may use its funds to remove the property from the list or proceeding, or to redeem the property after judgment of foreclosure. Such corporation shall have the same right of redemption as the owner of the property. (2) Where any municipal or other public corporation so removes or redeems any real property on which it claims a lien, or pays any taxes thereon, the corporation may add to its lien the amount so disbursed and cause that amount to be noted on its lien docket. The amount so disbursed shall be recoverable as part of the lien of the municipal or other public corporation. In case of foreclosure of the original lien claimed by such corporation, the amount so disbursed may be added to the original lien and recovered as part thereof. (3) Any county and municipal or other public corporation may enter into a cooperative agreement to facilitate foreclosure sales for the collection of delinquent property taxes and municipal liens.

ORS 87.364 Attachment of liens

(1) The liens created by ORS 87.352 to 87.358 attach to the land, mine or improvement described in those sections on the day on which the lien claimant ceases to perform the labor or transport or furnish the materials or provisions for which the lien is claimed. (2) The lien created by ORS 87.362, attaches to the land described in that section on the day of the first delivery of electricity for which the lien is claimed.

ORS 92.190 Effect of replat; operation of other statutes; use of alternate procedures

(1) The replat of a portion of a recorded plat shall not act to vacate any recorded covenants or restrictions. (2) Nothing in ORS 92.180 to 92.190 is intended to prevent the operation of vacation actions by statutes in ORS chapter 271 or 368. (3) The governing body of a city or county may use procedures other than replatting procedures in ORS 92.180 and 92.185 to adjust property lines as described in ORS 92.010 (12), as long as those procedures include the recording, with the county clerk, of conveyances conforming to the approved property line adjustment as surveyed in accordance with ORS 92.060 (7). (4) A property line adjustment deed shall contain the names of the parties, the description of the adjusted line, references to original recorded documents and signatures of all parties with proper acknowledgment.

ORS 701.605 Recording of written warranty agreement

(1) To facilitate the handling of warranty work or remediation of defects to a new commercial or residential structure or a zero-lot-line dwelling, a contractor who builds the structure may present for recording in the deed records of the county in which the new structure is built a written warranty agreement that: (a) Is signed by the contractor and the original owner of the new structure; (b) Sets forth any express warranties furnished by the contractor; and (c) Contains the names of the contractor and the original property owner, the title of the document, a legal description of the property and acknowledgment of the signatures of the parties in the same manner as the parties to a deed are acknowledged. (2) The warranties set forth in the recorded warranty agreement: (a) Benefit and burden subsequent owners of the structure. (b) Cease to affect title to the property 10 years after the date the instrument is recorded.

ORS 197.756 Farm use assessment in area identified for urban services

(1) Upon the sale of a lot or parcel located inside an urban growth boundary that is assessed at its value for farm use under ORS 308A.050 to 308A.128, the lot or parcel shall be disqualified for farm use assessment if: (a) The lot or parcel is in an area identified for urban services under ORS 197.754; and (b) The urban services are available by ordinance for urbanization. (2) Disqualification under subsection (1) of this section shall not apply to the sale of a lot or parcel to the owner's spouse, parent, stepparent, grandparent, sister, brother, daughter, son, stepchild or grandchild, or sale to a lessee of the owner if the lessee is conducting farm use as defined in ORS 215.203 on the lot or parcel at the time of sale. [1999 c.503 §6; 2001 c.104 §69]

ORS 92.990 Penalties

(1) Violation of any provision of ORS 92.010 to 92.090, 92.100 and 92.120 to 92.170 or of any regulation or ordinance adopted thereunder, is a Class C misdemeanor. (2) Any person who violates any of the provisions of ORS 92.325 (1), 92.345 to 92.365, 92.405 (1), (2) and (3), 92.425, 92.433, 92.460 to 92.475 and any alternative requirements of the Real Estate Commissioner prescribed pursuant to ORS 92.425 (3), not waived by the commissioner pursuant to ORS 92.395, or who provides false information or omits to state material facts pursuant to ORS 92.337, commits a Class C felony.

ORS 197.279 Approved wetland conservation plans comply with goals; exception; rules

(1) Wetland conservation plans approved by the Director of the Department of State Lands pursuant to ORS chapter 196 shall be deemed to comply with the requirements of statewide planning goals relating to other than estuarine wetlands for those areas, uses and activities which are regulated by the wetland conservation plans. (2) Wetland conservation plans shall be adopted and amended by local governments according to the procedures of ORS 197.610 to 197.625. (3) The department shall adopt by rule: (a) Standards for cities and counties to use to inventory and identify wetlands; and (b) Criteria for cities and counties to use to determine when a wetland is a significant wetland. [1989 c.837 §25; 1995 c.472 §2]

ORS 312.270 Title of county purchasing property; title of purchaser on resale

(1) When a county acquires real property by foreclosure for delinquent taxes, the conveyance vests in the county title to the property, free from all liens and encumbrances except assessments levied by a municipal corporation for local improvements to the property. (2) A private purchaser at resale of such property by the county acquires title free and clear of all assessments for local improvements levied by any municipal corporation.

ORS 92.495 Cease and desist order; injunction

(1) Whenever the Real Estate Commissioner finds that any owner, subdivider, series partitioner, developer or other person is violating any of the provisions of ORS 92.305 to 92.495 or of the alternative requirements of the commissioner prescribed pursuant to ORS 92.425 (3), the commissioner may order the persons to desist and refrain from violating the provisions or requirements, or from the further sale or lease of lots, parcels or interests within the subdivision or series partition. (2) Whenever the commissioner finds that any subdivider, series partitioner, developer or other person is violating, or has violated or is about to violate, any of the provisions of ORS 92.305 to 92.495 or the alternative requirements of the commissioner prescribed pursuant to ORS 92.425 (3) the commissioner may bring proceedings in the circuit court within the county in which the violation or threatened violation has occurred or is about to occur, or in the county where the person, firm or corporation resides or carries on business, in the name of and on behalf of the people of the State of Oregon against the person, firm or corporation, and any other person or persons concerned in or in any way participating or about to participate in the violation, to enjoin the person, firm or corporation or any other person from continuing the violation or engaging in the violation or doing any act or acts in furtherance of the violation, and to apply for the appointment of a receiver or conservator of the assets of the defendant where an appointment is appropriate.

Advantages of Tenancy by Entirety

(1) it protects against one spouse conveying or mortgaging the couple's property without the consent of the other, (2) it provides, in many states, some protection from the forced sale of jointly held property to satisfy a debt judgment against one of the spouses, and (3) it features automatic survivorship.

Because no clear line can be drawn between what is and what is not a fixture, there are five tests which can be applied to help make the distinction:

(1) manner of attachment (2) adaptation of the object (3) intention of the installer (4) existence of an agreement, and (5) relationship of the parties.

Disadvantages of Tenancy by Entirety

(1) tenancy by the entirety provides for no one except the surviving spouse, (2) it may create estate tax problems, and (3) it does not replace the need for a will to direct how the couple's personal property shall be disposed.

There are two main features of leasehold estates... And they are characterized by what?

(1) there is possession of the land, but there is no ownership, and (2) the estate has a definite duration. As noted earlier, the user of a property does not have to be its owner. In a leasehold, the person using the estate is called the lessee or tenant. The person leasing the property to the lessee is the lessor or landlord. If the tenant has a valid lease, abides by the lease, and pays the rent on time, the owner—even though they own the property—cannot occupy it until the lease expires. During the lease period, the leasehold estate owner is said to hold a reversion. This is the owner's right to recover possession of the property at the end of the lease period.

ORS 92.090 Approval of subdivision plat names; requisites for approval of tentative subdivision or partition plan or plat (cont.)

(6) Subject to any standards and procedures adopted pursuant to ORS 92.044, no plat of a subdivision or partition located within the boundaries of an irrigation district, drainage district, water control district, water improvement district or district improvement company shall be approved by a city or county unless the city or county has received and accepted a certification from the district or company that the subdivision or partition is either entirely excluded from the district or company or is included within the district or company for purposes of receiving services and subjecting the subdivision or partition to the fees and other charges of the district or company.

Type 1: Fire-Resistive

(Type 1-A or Type 1-B) Type 1 structures are constructed of concrete and protected steel (steel coated with a fire-resistant material, most often a concrete mixture).

Type 2: Non-Combustible

(Type 2-A or Type 2-B) Type 2 construction is typically found in new buildings (commonly in newer school buildings) and remodels of commercial structures. The walls and roofs are constructed of non-combustible materials. Walls are usually reinforced masonry or tilt slab, while roofs have metal structural members and decking. The top of these roofs are often covered with lightweight concrete, foam, an insulated membrane, or a combination of these materials.

Type 3: Ordinary

(Type 3-A or 3-B) Type 3 buildings can be of either new or old construction, and they have non-combustible walls and a wood roof. Older construction buildings may consist of unreinforced masonry and have a conventionally framed roof, while newer buildings will have lightweight roof systems supported by reinforced masonry or tilt slab. The most common types of roof systems in a commercial setting of Type 3 construction include parallel chord truss and panelized roof systems.

Type 4: Heavy Timber

(Type 4 Heavy Timber, HT) Also known as "mill" construction, Type 4 construction utilizes large dimensional lumber for structural members and interior elements. These buildings hold up well under fire conditions, but, if the structure is old, the building may be poorly maintained, or have termites or weathering issues. Large lumber is used for walls and to support roofs that span a significant distance. These buildings methods were common before 1960, after which metallic joists and support beams were more commonly used.

Type 5: Wood-Framed

(Type 5-A or 5-B) Type 5 construction is found in many modern homes and newer apartment buildings. The walls and roofs are made of combustible materials-most commonly wood. If the walls are wood-framed, the roof usually is, as well. Rooftops are ceramic tiles, asphalt shingles, or metal shingles placed over lightweight trusses and OSB (oriented strand board).

Appraisal Formula

(Unimpaired Value) - (Diminution in Value) = Impact

There are four fundamental provisions in Oregon's Water Code:

-Beneficial purpose without waste. Surface or groundwater may be legally diverted for use only if it is used for a beneficial purpose without waste. -Priority. The water right priority date determines who gets water in a time of shortage. The more senior the water right, the longer water is available in a time of shortage. -Appurtenancy. Generally, a water right is attached to the land described in the right, as long as the water is used. If the land is sold, the water right goes with the land to the new owner. -Must be used. Once established, a water right must be used as provided in the right at least once every five years. With some exceptions established in law, after five consecutive years of non-use, the right is considered forfeited and is subject to cancellation.

Types of Estates

-Fee Simple -Leaseholds -Life Estate

Several conditions must be met in order to create an easement by prescription:

-First, the person who is using the other person's property has to have been using what could become a prescriptive easement for a specified amount of time. This can be anything from five years to 20 years, depending on local regulations. -Second, the use has to be what is deemed adverse and not permissive. In other words, the property owner whose property is being used cannot have given any permission to use the land. Permission, in this case, has to be mutually agreed upon. -Third, the unauthorized use of the property needs to be obvious. This doesn't mean that the person using the property without permission has to tell the servient property's owner. It means that the adverse use of the property would be done so that the property owner could be reasonably aware of what is going on. -Fourth, the unauthorized use of the property needs to be exclusive to a particular area and continuous over the relevant period of time. The person adversely using another person's property has to use the same section of property for the same thing during the relevant period of time for it to qualify.

The property is expected to last more than one year Even if meeting the preceding requirements for a property, it cannot be depreciated under the following circumstances:

-Property was placed in service and disposed of in the same year -Equipment used to build capital improvements; a taxpayer must add otherwise allowable depreciation on the equipment during the period of construction to the basis of the improvements. -Certain term interests

Property can be depreciated if it meets all of the following requirements:

-The individual or entity owns the property -They use the property in their business or income-producing activity (such as rental property) -The property has a determinable useful life -The property is expected to last more than one year

As used in this section, "neglect" generally means: -a local government has incurred costs with respect to foreclosed residential property -to fail or a failure to maintain the buildings, grounds or appurtenances of foreclosed residential real property -actual costs that are commensurate with the market rate for services necessary to remedy a condition of neglect -the absence of a person, other than a local government, that forecloses a trust deed

-to fail or a failure to maintain the buildings, grounds or appurtenances of foreclosed residential real property

Linear Measure

1 link = 7.92 inches 1 rod = 25 links = 16.5 feet 1 chain = 4 rods = 66 feet 1 furlong = 10 chains = 40 rods = 660 feet = 220 yards 1 mile = 8 furlongs = 80 chains = 320 rods = 5,280 feet

Square Measure

1 square rod = 272-1/4 square feet (30-1/4 square yards) 1 square chain = 4,356 square feet 1 acre = 43,560 square feet 1 square mile = 640 acres (one section) 1 township x 1 range = 36 square miles

ORS 87.039 Notice of Filing Claim of Lien; Effect of Failure to Give Notice

1) A person filing a claim of lien pursuant to ORS 87.035 shall mail to the owner and to the mortgagee a notice in writing that the claim has been filed. A copy of the claim of lien shall be attached to the notice. The notice shall be mailed not later than 20 days after the date of filing. Notice mailed to the owner who received the notice of right to a lien as provided by ORS 87.021 shall be deemed in compliance with the requirement of this subsection, unless the person giving notice has actual knowledge of changed ownership. Notice mailed by any person to the mortgagee who received the notice required under ORS 87.025 shall be deemed in compliance with this subsection unless the person giving the notice has actual knowledge of a change of mortgagee. (2) No costs, disbursements or attorney fees otherwise allowable as provided by ORS 87.060 shall be allowed to any party failing to comply with subsection (1) of this section.

ORS 93.690 Recording of Instruments Evidencing Passage of Title to Land from United States to State of Oregon

1) The Director of the Department of State Lands shall forward all patents and clear lists of land and other documents evidencing that title to land has passed from the United States to the State of Oregon, which have been or shall be received by the State of Oregon, to the officer in each county of the state in which any of such land is situated whose duty it is to record conveyances of real estate. Upon the receipt of such patents, clear lists or other documents, the recording officer of the county shall forthwith record the instruments in the records of deeds of the county and index them in the manner provided for indexing deeds. When the recording officer has properly recorded such instruments the recording officer shall return them to the Director of the Department of State Lands. (2) When any such instrument includes land in more than one county, the record of the instrument in each county need include only the description of the land lying wholly or partly in that county and all other land may be indicated as omitted.

The amount of property tax you pay is based on two things:

1) the assessed value of your property, and 2) the amount of taxes that each taxing district is authorized to raise. The Oregon constitution places limits on both of these factors. It establishes a maximum assessed value and limits the increases of this value. The constitution also places a limit on operating tax rates for most of the taxing districts in the state.

For purposes of ORS 215.213 (2) and 215.283 (2), a land use permit is required for mining more than __________ cubic yards of material or excavation preparatory to mining of a surface area of more than one acre. 100 1,000 10 1 million

1,000

A person intending to foreclose a lien shall deliver to the owner of the property a notice in writing not later than _____ days prior to commencement of the suit. 90 10 60 30

10

The constable or sheriff receiving the inventory and order provided for in ORS 98.160 (Inventory and order to sell) shall give _____ days notice of the sale. 45 90 10 30

10

A purchaser may cancel a purchase within _____ business days of signing the first real property sales contract for a parcel of land. 5 3 9 30

3

Land within __________ outside of the corporate limits of a city is under the jurisdiction of the city for the purpose of giving approval of plans, maps and plats of subdivisions and partitions under ORS 92.040 and 227.110. 60 miles 6 miles 16 miles 0.6 miles

6 miles

Only one of following real properties qualify for a 1031 Exchange. Which of the following would qualify? A downtown office building to be exchanged with a single-family home in the suburbs An investment property in the U.S. to be exchanged with an investment property in Canada A $400,00 Lamborghini to be exchanged with a $400,000 residential rental property A 100,000-acre ranch in South Texas for an apartment building in Lower Manhattan, New York

A 100,000-acre ranch in South Texas for an apartment building in Lower Manhattan, New York

Government Lot

A Government Lot is a fractional subsection (less than a full quarter section in area) which is not described as an aliquot part of the section, but is rather designated by a number-for example, "Lot 2" or "Gov't Lot 2." Put another way, Government Lots are special subdivisions of land which were created when rivers or lakes prevented the subdivision of a section into regular 40- or 160-acre tracts. This is why these lots almost always border water areas excluded from the Public Land Survey and why their acreage may vary from that of the regular aliquot parts of the section.

S Corporations

A Subchapter S corporation—or simply S Corporation—is a corporation that meets the IRS requirements to be taxed under Subchapter S of the Internal Revenue Code. This gives a corporation with 100 shareholders or fewer the benefits of being a corporation while being taxed as a partnership. Being taxed as a partnership means that profits earned by the corporation are not taxed at the corporate level, but rather at the level of the shareholders.

Torrens Certificate

A Torrens Certificate is a type of certificate of title that is part of a land title system originally developed in the 1850s by the British administrator Robert Torrens [pictured above] in Australia. Torrens Certificates are issued by government agencies in some states. The advantage of a Torrens Certificate is that it allows a transfer of property without the need for a title search. The idea is that the state land registration agency has produced a certificate of title that is accurate and up-to-date. Buyers do not need to examine the history of the property and title, and can rely on the Torrens Certificate to reflect the current state of the property and show all relevant information about the title.

Bill of Sale

A bill of sale is actually a form of deed that certifies the transfer of the ownership of a piece of property from one person to another.

Express Warranties

A builder may give an express warranty to a new-home buyer. Appearing in a condensed form in the builder's construction agreement, the express warranty outlines the builder's responsibilities in designing and building the new home. By accepting the express warranty, home buyers give up the right to make claims for implied warranties, which may be more all-encompassing than those in the express warranty.

Call

A call is a statement describing a bound by length and direction, as specified by compass orientation.

Certificate of Title

A certificate of title is a legal document drafted by a title company or a written opinion of an attorney that both establishes the current owner of a property and shows the current status of the property in regard to encumbrances or easements. The information in a certificate of title often has several sections to it. A section is usually devoted to the physical characteristics of the property. This can include the registered address, the size and dimensions of the property, and the descriptions of any buildings on the property. A certificate of title may also contain a section with information about the holder of the title to the property. This section usually will cover forms of identification and any other information about the property owner that is required by local laws, often including outstanding judgments against the property owner, for instance, child or spousal support obligations. The other section that is almost always found in a certificate of title covers claims that are in force against the property. This is the section that covers outstanding mortgages, liens, and other encumbrances often with the names and contact information of parties that hold encumbrances on the property.

ORS 93.730 Recordation of Judgment in Other Counties

A certified copy of any judgment or order of confirmation affecting lands in this state made in any action may be recorded in the records of deeds in any county in which the land affected is wholly or partly situated by any party interested in the land or in the action. After the transcript is so recorded, the judgment is notice to all persons of the action and of the judgment or order, as completely as if the entire proceedings were had originally in the county in which the transcript is recorded. The record of the transcript is prima facie evidence of title as therein determined.

No-Sale Fee

A charge paid by the owner of property offered at a reserve auction when the property does not sell.

Encumbrances

A claim against, a limitation on, or a liability against real property is called an encumbrance. Common encumbrances include easements, covenants, liens, as well as encroachments. Any type of encumbrance is an impediment to a clear property title. Basically, an encumbrance occurs any time a "stick" is removed from a property owner's bundle of rights. The party holding another property owner's "stick" has a claim to, a right, or an interest in that property. In other words, one person's encumbrance is another person's right or interest or claim in that property. For example, a mortgage is an encumbrance from a property owner's perspective, but is a right to foreclose from a lender's perspective. A property encumbered with a lease and a mortgage is called "a fee simple subject to a lease and a mortgage."

ORS 701.340 Commercial structure warranty

A commercial general contractor level 1 or level 2 that constructs a new large commercial structure shall provide the owner with a two-year warranty of the building envelope and penetration components against defects in materials and workmanship. The warranty shall provide for the contractor to annually inspect the building envelope and penetration components during the warranty period. The warranty need not cover conditions resulting from improper maintenance by the owner.

Consensual Liens

A consensual (or voluntary) lien is a lien that is voluntarily agreed to, most often as a result of a loan or other credit extension. Mortgages are probably the most common kind of consensual liens that real estate agents deal with. There are two basic categories of consensual liens. Purchase-money security interest liens, which are more often encountered as purchase-money mortgage liens, involve a lender loaning money to a borrower for the purchase of a property that is used as security for the debt. First mortgages are a common type of purchase money mortgage. Non-purchase-money security interest liens are established when a borrower uses owned property as collateral for a loan. In most cases, the property being placed under the lien was either owned before the debt was incurred or was not acquired using money from the lender. Second mortgages are common examples of this kind of lien.

Payment Terms

A contract can only be valid if it includes the consideration for both parties. The buyer is receiving a title to property as consideration and the seller is usually receiving payment or the transfer of value. The deed must lay out the terms of this payment in order to be legally enforceable.

Auction Listing Agreement

A contract executed by the auctioneer and the seller that authorizes the auctioneer to conduct the auction and sets out the terms of the agreement and the rights and responsibilities of each party.

Deed Condition or Restriction

A deed condition or restriction is a limitation on property use that has been written into the deed transferring ownership of a property. They are effectively identical to covenants, conditions, and restrictions and serve the same purpose. Because deed conditions and deed restrictions are inserted into a deed, they are written down. For this reason, deed conditions and deed restrictions normally run with the land.

Essential Elements of a Deed

A deed is a legal document and therefore has certain requirements about what must be in the deed. In order to make a valid and legally binding deed it needs to have all of the following sections. Additionally, the deed must fulfill all of the requirements of a standard contract. The signatories must be competent, must be signing of their own free will, and must have the legal capacity to perform the acts they are contracted to do.

Deeds

A deed is a legal document providing written proof of the legal ownership of real estate. The person named as the grantee on the deed is the currently recorded owner of that real estate cited in the deed. [Note: This named individual becomes the "grantor" when they undertake to reassign the deed to a new grantee.] Basically, a deed is paper title to property. A deed transfers title from the grantor to the grantee.

Deed of Trust

A deed of trust also certifies that a lending institution has been given the ability to place a lien on a property. The main difference between a deed of trust and a mortgage deed is that the surrendered interest is held by an independent third party called the trustee. This allows foreclosure and sale of the property to be carried out without having to file a lawsuit or go through court procedures.

Facility

A facility is any property which produces or stores any type of material which may be considered a hazardous waste. This definition does not include typical residential housing unless the production of universal hazardous wastes reaches a level to constitute "nuisance" or "trespass" as described under Common Law.

Relationship of the Parties

A final test as to whether an object has become a fixture looks at the relationship between interested parties. For example, a supermarket moves into a rented building and then bolts various trade fixtures to the floor. Modern courts rule that tenant-owned trade fixtures, like meat and dairy coolers, frozen food shelves, and checkout stands, do not become property of the building owner. These trade fixtures, however, must be removed without seriously damaging the building before the lease expiration. Attached objects that are not removed from the property in a timely manner after the property is vacated often become fixtures of the property, despite the desire of the party who originally installed the object. In general, tenant's and buyer's definitions of what is and is not a fixture will usually be favored over the opinion of landlords and sellers.

Foreclosure Deeds

A foreclosure deed is a legal document granting property ownership to the purchaser at a foreclosure sale. Depending on the type of foreclosure, a foreclosure deed may be a sheriff's deed or a trustee's deed. A foreclosure deed transfers legal title of property to a new owner.

Brownfield

A former industrial or commercial site having previous development on it. Future use is affected by real or perceived environmental contamination.

General Partnership

A general partnership is an arrangement where partners conducting a business jointly have unlimited liability. This means that the partners' personal assets are exposed to the partnership's obligations. Since every partner has unlimited liability, even innocent partners can be held responsible when another partner commits illegal or inappropriate actions. Caution is warranted when deciding whether to become a general partner.

Incineration, Destruction and Waste-to-Energy

A hazardous waste may be "destroyed," for example, by incinerating it at a high temperature. Flammable wastes can sometimes be burned as energy sources. Many cement kilns burn hazardous wastes such as used oils or solvents. Today, incineration treatments not only reduce the amount of hazardous waste, but also generate energy in the process. It is well known that this particular option for waste treatment also can release toxic gases produced by the combustion of byproducts or other materials, and this can affect the environment. Current technology, however, has developed more efficient incinerator units that control these emissions to a point that this treatment is considered a more acceptable option than many of the alternatives.

Housing Cooperatives

A housing cooperative is a type of cooperative (often incorporated) that owns real property, usually residential buildings. Members, by virtue of owning shares in the cooperative, are granted the right to occupy one of the units in the building. Because the resources of the members are pooled, the buying power of the organization is leveraged, which lowers the cost to members for services and products associated with home ownership. Members also can control who can occupy units in a cooperatively owned building.

Joint Venture

A joint venture is a business arrangement between two or more parties to pool their resources and carry out a single business project. This project can be a new task or any other business activity. Each participant is responsible for profits, losses, and costs associated with the joint venture. The joint venture, however, is its own singular entity, separate from the participants' other business interests.

ORS 88.106 Sale and redemption; effect of sheriff's deed

A judgment of foreclosure shall order the mortgaged property sold. Property sold on execution issued upon a judgment may be redeemed in like manner and with like effect as property sold at an execution sale pursuant to ORS 18.860 to 18.993, and not otherwise. A sheriff's deed for property sold on execution issued upon a judgment shall have the same force and effect as a sheriff's deed issued for property sold at an execution sale pursuant to ORS 18.860 to 18.993.

Judicial Foreclosures

A judicial foreclosure involves filing a lawsuit and appearing before a state court judge. The judge issues a foreclosure order that instructs the sheriff's department to hold a foreclosure sale. After the sale, the sheriff's department issues a sheriff's deed to the purchaser of the property.

Land Sales Contracts

A land sale contract is a contractual agreement in which the buyer purchases property from a seller on an installment basis. After the contract is established, the buyer, typically, moves onto the property and makes regular installment payments to the seller until the total cost of the sale is met. Other common names for land contracts are real estate contracts, installment sales contracts, or contracts for deeds.

What is a lien? -A legal claim to a specific piece of property or asset(s) of like value in consideration for an unfulfilled obligation or debt -A legal right to seize that specific piece of property in consideration for an unfulfilled obligation or debt -An agreement to have property held in trust until the fulfillment of a debt or obligation -The right to use property belonging to another under certain terms and conditions

A legal right to seize that specific piece of property in consideration for an unfulfilled obligation or debt

License

A license is a privilege given to someone to use a piece of real estate. The license cannot be given to anyone else and may be cancelled by the party that issues it. Movie theater tickets and parking permits are both examples of licenses. It is important to note that licenses are not encumbrances against a property. Depending on the terms of the licensing agreement and the sales documents, licenses typically transfer with the deed when the property is sold. Any issued licenses, however, may also be automatically terminated with transfer of ownership.

Liens

A lien is a legal claim made on another person's property for the purpose of securing or repaying a debt to the holder of the lien. Liens can be imposed by financial institutions for repayment of loans. Or a lien can be imposed by the government for failure to pay property taxes. Liens usually carry with them the right of the holder of the lien to repossess and sell the property in order to pay off the debt. In some states a mortgage is seen as a form of lien, since failure to repay the mortgage often gives the creditor the right to foreclose on the property in an attempt to make up the unpaid debt. A lien is a form of encumbrance. In general, an encumbrance is some form of legal obligation or burden that decreases the value of a property and can interfere with the transfer of a title.

Liens

A lien is a legal claim made on another person's property for the purpose of securing or repaying a debt to the holder of the lien. Liens usually carry with them the right of the holder of the lien to repossess and sell the property in order to pay off the debt.

Liens/Encumbrances

A lien is the legal right to seize a piece of property in exchange for a debt. While the debt belongs to an individual, the lien is attached to the property. If a title is transferred then the lien is transferred with the title. There are two ways that this is generally set up. The first is that the deed is issued as a warranty deed wherein the seller asserts that there are no liens or encumbrances on the property. The second way this can be set up is with a quitclaim deed wherein the seller asserts that the buyer is taking possession of the title with all liens and encumbrances intact. Generally, the quitclaim deed will not list these liens or encumbrances, instead leaving the identification of the individual liens up to the buyer. Even if the liens are transferred via a title transfer, the original debtor may be sued for the balance of the debt.

Life Estate

A life estate is a form of property ownership which lasts until the possessor of the property, often called the life tenant, dies. At that point their right to possess the property is terminated. However, legal instruments creating life estates commonly contain provisions that automatically transfer ownership of the property to a named party or parties upon the death of the life tenant. This established transfer of ownership is usually referred to as a remainder and a party to whom ownership will be transferred is normally called a remainderman. Ownership may be transferred at this time or, the right to possess may change hands without affecting actual ownership. The owner may retain possession or grant it to another party. The creation of a life estate with a remainder can be used as a way to guarantee the transfer real estate to heirs without needing to go through the probate process. When the life tenant dies, the property will be automatically handed over to the remainderman. A life estate with a remainder can complicate the transfer of property to another person while the life tenant is alive. If the life tenant wants to sell or transfer the property to another party, they will need to get permission from any remaindermen first. The reason for this is a new deed will need to be drafted that will undo the life estate.

ORS 92.017 When lawfully created lot or parcel remains discrete lot or parcel

A lot or parcel lawfully created shall remain a discrete lot or parcel, unless the lot or parcel lines are vacated or the lot or parcel is further divided, as provided by law.

Marketable or Insurable Title

A marketable title is a property title that is considered free from defect and, therefore, the probability of litigation is limited. There may still be encumbrances on the title, but one(s) of which the parties are aware, such as a lien or an easement. The title is, in other words, clear enough to sell at a fair market price, but there just may be restrictions on the use of the property per zoning, or a construction lien.

Meander Corner

A meander corner is set at each point where a standard township or section line intersects the bank of a navigable body of water or other meandered streams and lakes.

Meander Line

A meander line is a traverse line run along the margin of a stream or a lake. It is not generally a boundary in the usual sense, as the bank itself typically marks the limits of the survey. All navigable bodies of water were meandered in the public land survey system, as well as many important streams and lakes not regarded to be navigable.

Metes

A measurement of any sort comes from the word "meter" and the term "metering" is used as a synonym for "measuring."

Mortgage Deed

A mortgage deed certifies that a mortgage company or bank has a lien on a property. This is an agreement that gives the party that lent the money through the mortgage an interest in the property that allows them to foreclose on the property if the owner of the property doesn't repay the loaned money. The process of foreclosing on a property with a mortgage deed involves the lending agency filing a lawsuit against the borrower.

Which type of easement prevents affected property owners from doing something with the property? An easement in gross A negative easement An affirmative easement An easement appurtenant

A negative easement

Easements

A part of the description will include any limitations on the property, such as any easements that have been purchased or granted. An easement is a right of use over property owned by another. In essence, an easement is a surrender of a right of ownership from the owner to the person granted the easement. The terms under which this easement can be revoked or reclaimed by the owner cannot be changed unilaterally by either party. Essentially, if Jon wants to sell his property, but Sally has an easement on the property, then Jon does not have the legal right to sell that easement. A deed that does not lay out this fact will be invalid as Jon is claiming to sell property that he does not own.

Partnership

A partnership exists when two or more individuals, as partners, manage and operate a business. Partnership doesn't always mean two people. There are many large partnerships that have thousands of partners. There is no set limit to the number of partners, there just has to be a minimum of two.

ORS 215.457 Youth camps allowed in forest zones and mixed farm and forest zones

A person may establish a youth camp on land zoned for forest use or mixed farm and forest use, consistent with rules adopted by the Land Conservation and Development Commission under section 3, chapter 586, Oregon Laws 1999. [1999 c.586 §2]

Agent

A person who acts for or in the place of another individual or entity by authority from that person or entity.

ORS 92.027 Deed reference to creation of unit of land

A person who conveys or contracts to convey fee title to a lot or parcel, or another unit of land resulting from a lien foreclosure or foreclosure of a recorded contract for the sale of real property, created or established on or after January 1, 2008, must include in the deed or other instrument conveying or contracting to convey fee title: (1) A reference to the recorded subdivision plat or partition plat for the lot or parcel; (2) A reference to or exhibit of the final land use decision that approved the subdivision or partition if a subdivision plat or partition plat is not required by law; or (3) A reference to or exhibit of a final judgment or other document that evidences a lien foreclosure or a foreclosure of a recorded contract for the sale of the real property.

ORS 87.358 Nurseryman's lien

A person who furnishes nursery stock of the value or agreed price of $25 or more, for planting on land, at the request of the owner of that land, or with the knowledge or consent of the owner has a lien on the land upon which the nursery stock is set out and planted for the reasonable or agreed charges for the nursery stock. If the owner has less than a fee simple estate in the land, then only the interest of the owner therein is subject to the lien created by this section.

`ORS 87.356 Lien for preparing land for irrigation or cultivation

A person who is employed to or contracts to survey, clear, ditch, dike, tile, level, check, border, excavate, grade, pave or otherwise prepare land for irrigation or cultivation, or who furnishes materials or equipment for use in connection with such work on that land, at the request of the owner of the land, has a lien on the land prepared for the reasonable or agreed charges for labor, and the materials or equipment furnished. If the owner has less than a fee simple estate in the land, then only the interest of the owner therein is subject to the lien created by this section.

Absentee Bid

A procedure that allows a bidder to participate in the bidding process without being physically present. Generally, a bidder submits an offer on an item prior to the auction. Absentee bids are usually handled under an established set of guidelines by the auctioneer or his representative. The particular rules and procedures of absentee bids are unique to each auction company or municipality.

Which kind of easement not only allows access to another person's property but also allows the removal of material resources contained in the property? A profit A covenant A license An equitable servitude

A profit

Profits

A profit, also known as a profit a prendre (French for "profit to be taken") is a specific kind of easement that not only allows access to another person's property but also allows the removal of material resources contained in the property. This is not the same as the ownership of subsurface rights since the profit does not grant unlimited or exclusive rights to the material resources. The amount of material wealth that the profit holder can access can be constrained, and more than one party can hold a profit to the same section of land.

Maximum assessed value (MAV)

A property's maximum assessed value (MAV) is the taxable value limit established for each property. The first MAV for each property was set in the 1997-98 tax year. For that year, the MAV was the property's 1995-96 RMV minus 10%. For example, if a residential property had an RMV of $100,000 for the 1995-96 tax year, its 1997-98 MAV would have been $90,000. MAV can increase for only two reasons: 1) a 3% annual increase or 2) specific property events.

Bid

A prospective buyer's indication or offer of a price he or she will pay to purchase property at auction. Bids are usually in standardized increments established by the auctioneer.

Range

A range is a vertical column of townships in the Public Land Survey System. The term is used to represent the number of six-mile-square units (townships) east or west from the principal meridian. Thus, Range 3E would occupy a vertical strip of land between 12 and 18 miles east of the principal meridian. A geographical township, therefore, has a unique location which is not identical to any other six-mile-square township within the United States. The description "T.3 N, R.3 E" designates a geographical township which is located in the third tier of townships north of the base line and in the third range of townships east of the principal meridian.

Referring Broker

A real estate broker who does not have a listing on a property but refers the auction company to a potential seller for an auction. Usually earns a flat fee commission for referring products to an auction company.

Listing Broker

A real estate broker who has a listing on a property and cooperates with the auction company by allowing the auction agreement to supersede his or her listing agreement.

Cooperating Broker

A real estate broker who registers a prospective buyer with the auction company in accordance with the terms and conditions for that auction. The broker is paid a commission only if his prospect is the high bidder and successfully closes on the property. Also known as a participating broker.

Buyer's Broker

A real estate broker who represents the buyer and, as the agent of the buyer, is normally paid for his or her services by the buyer.

Real Estate Investment Trust (REIT)

A real estate investment trust (REIT) pools money from many investors for the purchase of real estate, much as mutual funds do with stocks and bonds. Investors in an REIT are called beneficiaries, and they purchase beneficial interests somewhat similar to shares of corporate stock. The trust officers, with the aid of paid advisors, buy, sell, mortgage, and operate real estate investments on behalf of the beneficiaries. If an REIT confines its activities to real estate investments, and if the REIT has at least 100 beneficiaries and distributes at least 95% of its net income every year, the Internal Revenue Service will collect tax on the distributed income only once—at the beneficiaries' level. Failure to follow the rules generally results in double taxation.

Accounting of Sale

A report issued to the seller by the auctioneer detailing the financial aspects of the auction.

Reverse 1031 Exchange

A reverse exchange is more complex than a deferred exchange. It involves the acquisition of replacement property through an exchange accommodation titleholder. The property is "parked" with the exchange accommodation titleholder for no more than 180 days. Reasons for a Reverse 1031 Tax-Deferred Exchange include trying to avoid situations where the exchange initiator may lose an earnest money deposit or favorable financing rate if it fails to close on the replacement property by a certain date; where improvements need to be made on the new property, or where the exchange initiator has not found a buyer for the old property yet wants to acquire the new property. During this parking period, the taxpayer disposes of its relinquished property to close the exchange.

Right-of-Way Grant

A right-of-way grant is a temporary easement that allows a utility access to a public property in order to install or maintain a piece of equipment like a water pipeline.

Floodplains

A river, stream, lake, or drain may, on occasion, overflow its banks and inundate adjacent land areas. The land that is inundated by water is defined as a floodplain. The term floodplain has come to mean the land area that will be inundated by the overflow of water resulting from a 100-year flood (a flood which has a 1% chance of occurring any given year). As with all other special land types, building and construction in floodplains is closely regulated. Permits are required for any changes or modifications to the area. This includes: constructing new buildings additions to existing building substantially improving existing buildings placing manufactured (mobile) homes subdivision of land temporary buildings and accessory structures agricultural buildings parking or storage of recreational vehicles temporary or permanent materials storage, including gas/liquid tanks and sand/gravel roads, bridges, and culverts fill, grading, excavation, mining, and dredging altering stream channels It is important to note that while flood insurance for homes located in a floodplain is available through the National Flood Insurance Program (NFIP), this coverage is only available if the community in which the property is located has chosen to participate in the program. Community involvement in NFIP is voluntary, not mandatory. Agents should be familiar with all such details for communities in which they operate.

Trustee's Sale

A sale at auction by a trustee.

Section

A section is a one-square-mile block of land containing 640 acres and comprises 1/36 of a township. Not all sections are a regulation 640 acres, however, due to the curvature of the Earth and slight errors in measurements made during the original surveys. As a result, sections may occasionally be less than one square mile in size.

Short Sale

A short sale is a way for borrowers to avoid foreclosure proceedings. A short sale is the sale of a property after the owner has defaulted on a loan, usually a mortgage. The "short" portion refers to the fact that the sale is not expected to make up the entire amount owed to the lender. A short sale is often considered as an alternative if court foreclosure proceedings are seen as being too expensive or time-consuming. In some cases, the borrower is still held responsible for paying back the remaining money owed to the lender that was not paid off with the short sale. In other cases, the lender is not only willing to retire the mortgage despite not being fully repaid but may even allow the owner who initiates the short sale to retain a small portion of the proceeds to pay moving costs. Borrowers must apply to the lending institution in order to get permission to carry out a short sale. Lenders, however, are not required to accept a short sale on a property.

Township

A six-mile-square area of land containing 36 sections which is numbered according to its position either north or south of the base line. The term also refers to a horizontal row of townships in the Public Land Survey System. The description "T.3 N." denotes the third tier of townships north of the baseline.

Statutory Liens

A statutory lien is one that has some basis in federal or state laws. This kind of lien does not require the consent of the party having the lien imposed upon them. Tax liens are liens placed by federal or local governments in an attempt to recover unpaid taxes. Federal tax liens are liens imposed by the Internal Revenue Service. State tax liens are liens imposed by state tax collection agencies. Property tax liens are liens imposed specifically for the recovery of unpaid property taxes. Federal and state tax liens usually apply to all property owned by a party. Property taxes, on the other hand, usually only apply to a specific property with unpaid taxes. Mechanic's liens, sometimes called contractor's liens, are imposed to guarantee that the financial interests of all parties working on the construction or repair of property improvements are upheld. In other words, a lien is imposed on the property that lasts until the construction or repair work on a structure is finished and all parties have been paid. If the property owner fails to adequately pay for the construction or repair work, a suit seeking foreclosure can be filed. This is a statutory lien because the right of parties who work on structures to seek foreclosure for unpaid work is established by law.

Baseline

A straight, imaginary line drawn along the surface of the earth running east and west.

Principal Meridian

A straight, imaginary line running north and south and perpendicular to the baseline and running through the initial starting point of the survey. In Oregon and Washington, this shared Principal Meridian is called the Willamette Meridian.

Land-to-Building Ratio

A structure occupies a certain portion or percentage of the land parcel it sits on. This portion is called the land-to-building ratio. To calculate the land-to-building ratio, divide the square footage of land by the square footage of the building: 78,000 land sq ft / 20,000 building sq ft = 3.9 This is a 3.9:1 land-to-building ratio. While land-to-building ratios are not typically calculated in residential appraisals, there are many municipal codes and property restrictions limiting the ratio. There is often a desire to keep home sizes down to a certain percentage of the available lot space. Land-to-building ratios are prevalent in commercial and industrial applications. There are typically strict building code requirements when calculating the amount of parking for certain size structures, as well as setback and green area considerations. A facility with an 11:1 land-to-building ratio may be under-utilizing the land; while a 2.5:1 ratio may be an indication that there is no room to expand and that there may be insufficient parking available; it may even be in violation of current codes and only allowed to maintain this ratio through a "grandfathering" provision. [Note: some grandfather provisions expire when a current owner surrenders or sells the property.]

ORS 91.030 Tenancy by entirety or for life

A tenancy by entirety and a tenancy for life shall be such as now fixed and defined by the laws of the State of Oregon.

ORS 91.080 Termination when expiration of tenancy fixed by terms of lease

A tenant entering into the possession of real estate may, by the terms of the lease, fix the date of expiration of the tenancy, and when so fixed, no notice is required to render the holding of the tenant wrongful and by force after the expiration of the term as fixed by the lease.

ORS 91.115 Tenant not to deny landlord's title

A tenant is not permitted to deny the title of the tenant's landlord at the time of the commencement of the relation.

Title Search

A title search is a process where someone, usually a title examiner working for a title company, examines the history of a property in preparation for a transfer of property ownership. The attorney or title company searches public records to determine several things. They will determine who holds the title to, and thus ownership of, a piece of property; what kinds of restrictions and allowances (such as easements) are on the property; and any "clouds" on the title (such as liens, unpaid mortgages and taxes, encroachments, or defects) that can limit the ability to transfer the property to another owner.

Clouds

A title with a "cloud" on it is a situation where there is something related to the title or property that interferes with the ability to effectively transfer the title to another person. Clouds on a title can be outstanding mortgages, liens or other encumbrances, or land boundary disputes. Clouds can also refer to title defects, which are circumstances or conditions that cast doubt on the claimed ownership of the property. Defects can occur if the ownership or transfer of ownership of a property was improperly recorded. A title defect is often synonymous with a cloud on a title.

Trade Fixtures

A trade fixture is a business- or trade-related item attached to a rental building by a business tenant. These items; such as booths, bars, display cases, and lights; are used for the storage, handling, and display of stock for a business. A tenant is entitled to remove fixtures installed during the term of their lease for the purpose of carrying on their business.

Principal Meridian

A true north and south line used for survey control which runs through an arbitrary point that is chosen as a starting point for laying out sections of land within a given area.

Base Line

A true or approximate parallel of latitude running through an arbitrary point that is chosen as a starting point for laying out sections of land within a given area. The General Land Office (GLO) Survey would establish a base line (in conjunction with the meridian) that would run east and west at right angles to the meridian from which geographical townships were laid out and numbered either north or south of that line.

Purpose of Home or Construction Warranty Programs

A warranty is an obligation by the seller that the seller's product (e.g., a new home) is free from defective materials or shoddy workmanship as far as the seller is aware, together with a promise to repair or replace any defective items and faulty work that become apparent after the sale. When the sale involves a new home, the warranty can protect the original homeowner against major structural defects for up to 10 years. Warranties for home components, however, typically last for shorter periods of time. Warranties for doors, for example, can expire after one year. Builder-backed home warranties make the builder financially responsible for repairs when defects occur. A warranty is not a guarantee. Repair or replacement is satisfied by meeting building industry standards. Complete customer satisfaction is not required. A warranty does not generally cover items and issues that arise from customer neglect or use beyond that intended for the product. Also worth noting is that a home warranty is not the same thing as homeowners insurance, which covers damages from situations that arise outside of normal use, such as fires or theft.

Wills

A will is a legal document in which a person, called the testator, names representatives and lays out instructions for the distribution of assets. Several kinds of wills can be drafted depending on what the testator intends. Simple wills, sometimes known as statutory wills, are usually employed by people with small and uncomplicated estates. A simple will is usually a printed form that can be filled out by the testator. It is still advised that an attorney be consulted even when drafting a simple will. A testamentary trust will is one in which a portion of a person's estate is placed under the control of a third party. The third party, called a trustee, manages the portion of the estate under his, her, or their control until certain conditions allow the trustee to distribute the portion of the estate held in trust to a designated party or parties called beneficiaries. Joint wills are created by two testators who each leave their estate or portion of an estate to the other testator. This type of will also specifies the distribution of the estate upon the death of the surviving testator. Joint wills cannot be revoked without the consent of both testators. Similarly, reciprocal wills, or mirror wills, set up conditions where two parties leave their individual estates to the other party. Unlike joint wills, each party drafts their own reciprocal will. A living will does not focus on the distribution of an estate post mortem (after death), but instead establishes what medical procedures the testator approves of and doesn't approve of if they become incapacitated or incapable of communicating their medical wishes.

Accessibility

Accessibility, or simply access, is a customer's ability to enter a property or reach desired goods, services, activities, and destinations. There are two ways to consider accessibility: (1) accessibility to reach a property (or its goods and services) online, and (2) accessibility to reach a property in person. These include the presence or absence of physical barriers to movement, and limitations imposed by driving time, congestion, distance, and separation.

Adverse Possession

Adverse possession is a process through which the title, and thus ownership of a property, can be seized by someone without any formal transfer of title. The conditions required for a transfer of title by adverse possession are very similar to the process that establishes an easement by prescription. There is a statutory period defined by local laws that details how long the property has to be occupied for the title to be transferred via adverse possession. In Oregon, the period is ten years. See 2017 ORS 105.620 Acquiring title by adverse possession. Additionally: The party seizing the title to the property has to actually occupy the property with the intent to claim it. The possession of the property has to be open, meaning that it would have been reasonably possible for the actual property owner to notice the occupation of the land. The occupying party also has to be the only party occupying the property. The occupation has to be hostile, or adverse, since it is done without the permission of the actual property owner. The occupation of the property has to be continuous which translates to regular and uninterrupted occupancy of the land. Finally, as stated previously, the occupation has to have fulfilled all of the earlier conditions for a period of time designated by the local law (10 years). If all of the conditions are met, including the time limit, the title is transferred to the occupying party via adverse possession.

Affirmative Easement

Affirmative easements allow the holder of the easement the right to use another person's property. For example, one property owner has an easement to use a well which is located on another person's property.

ORS 407.490 Mortgage insurance claims; liability of department

After assignment transfer and delivery by the Department of Veterans' Affairs of all rights in the insured property to the organization or person providing insurance, the department shall not be liable to any borrower for any claim or grievance arising out of the insurance agreement or the loan agreement.

Supplemental Home Warranties Purchased by the Buyer

After reading the warranty provided by the builder, a home buyer may opt to purchase a supplemental warranty. These warranties may be customized to include such functions as the repair of walls and ceilings and the replacement of drapes and carpet damaged by water leaks from a defective roof or pipe. If the homeowner relocated to a hotel due to a major structural defect in the home, the supplemental warranty may also include the coverage of such expenses during repair.

Air Rights

Air rights refer to the development of empty space above a parcel of land. Ownership of airspace is just like ownership of land: the owner can use and enjoy it reasonably in connection with their enjoyment of the underlying land, as long as it does not interfere with someone else's use of their own property. Even though owning land theoretically includes owning land from the surface down to the center of the earth, ownership of the air does not extend endlessly into space.

ORS 91.110 Notices to be in writing; how served

All notices required by ORS 91.050 to 91.070 and by ORS 105.120, must be in writing and must be served upon the tenant by being delivered to the tenant in person or by being posted in a conspicuous place on the leased premises in case of the absence of the tenant, or by being left at the residence or place of abode.

"Due care," in this context, means to take action to... allow the safe redevelopment of contaminated property. prevent spreading the contamination off property. protect people from contact with contamination. All of these are correct

All of these are correct

Police power is defined as the constitutional authority of a state government to make rules to promote the __________ of society. All of these are correct public order and health welfare and safety morals and prosperity

All of these are correct

ORS 105.280 How sale made; notice of sale

All sales of real property made by the referees shall be made by public auction to the highest bidder in the manner required for the sale of real property on execution. The notice shall state the terms of sale. If the property or any part of it is to be sold subject to a prior estate, charge or lien, that fact shall be stated in the notice.

Standard Parallels (Correction Lines) and Guide Meridians

Along the principal meridian, points were marked at defined distance intervals, usually every 24 miles. However, in some of the earlier surveys, these points were marked at 30-, 36-, or 60-mile intervals. From these points, lines called "standard parallels" (also called "correction lines"), were extended east and west parallel to the base line. Standard parallels are numbered consecutively north and south of the base line and designated, for example, as First Standard Parallel North, Second Standard Parallel North, and so on; or 1st Correction Line, 2nd Correction Line, etc. Along each standard parallel, points are marked at 24-mile intervals, east and west from the principal meridian. These points are called "standard corners." From each "standard corner," a line is run true north (not magnetic north) called a "guide meridian." Due to the convergence of these guide meridians as they extend northward (because of the curvature of the earth), the guide meridian does not intersect with the standard corner set along the next standard parallel lying to the north. [To clarify: When transferring from the shape of a globe to a flat map, the correction is done to avoid every parcel narrowing as it moves to the north, it happens with a globe.] The point at which the guide meridian does intersect with the next standard parallel to the north is called a "closing corner." As a result, each standard parallel has a set of both standard and closing corners. This means that each township and section that borders on a standard parallel or correction line will have double corners. Without the establishment of these correction lines, the south line of townships would be longer than the north line with the differences becoming greater the farther north the survey is extended. These lines, therefore, allowed the original surveyors to maintain their six-mile square townships without varying from the true north and south lines by more than a few degrees; and if the surveyor did maintain true north-south and east- west lines, the correction line provided a new base line for the townships lying north of the correction line, allowing for consistency with the 36-square-mile township standard.

Maintenance and Repair Reserves

Along with operating expenses, the association must carefully consider the funds needed as "reserves" for maintenance and repair. As part of the budgetary process, establishing realistic reserves is often overlooked by association boards, sometimes with dire consequences. For example, a 48-unit high-rise condominium comes with each unit having a suspended wooden deck for relaxing and entertaining. Decks need periodic staining and water protection applications. Further, on older condominium projects, deck replacement would be needed at some point. Neglecting to build reserves into the annual budget for deck maintenance and replacement could result in costly "special homeowner assessments." Condominium boards must diligently add these to annual budgets to build up cash to make these repairs.

Corporations

Also called "C Corporations," a corporation is a legal entity that is separate and distinct from its owners. Each state has passed laws to permit groups of people to create corporations that can buy, sell, own, and operate in the name of the corporation.

Building Site

Also called a construction site, this is an area where a structure is being constructed or repaired.

Limited Partnership

Also called a limited liability partnership, limited partnerships developed in response to general partnerships' potential for unlimited financial liability and management responsibility. In a limited partnership, two or more partners unite to conduct a business jointly, and one or more of the partners is liable only to the extent of the amount of money that partner has invested.

Personal Property

Also called chattel, is any physical object owned by someone that can be reasonably moved. For something to be personal property, it cannot be attached or specifically associated with a piece of land. In its most general sense, personal property can include any asset other than real property.

Real Property

Also called real estate, is land and any structures attached directly to that land. This includes improvements such as buildings, roads, and fences, but also includes natural resources like water, minerals, and crops. This means that oil, gas, and timber qualify as real property because they are considered a part of the land. In addition, real property isn't just land, improvements, and resources: it's the rights to use these resources as well.

Inter Vivos Trust

Also known as a living trust, an inter vivos trust takes effect during the lifetime of its creator. This trust's duration is established during the trust's creation. Property may be transferred to a trustee with instructions that it be managed and that income from the trust assets be paid to the trust creator's children, spouse, relatives, or a charity during the creator's lifetime. One important reason for establishing a trust is to avoid probate—a process of distributing the deceased's assets in court.

Periodic Tenancy

Also known as a periodic estate or an estate from year-to-year. Periodic tenancy has an original lease period with a fixed length. But, unlike tenancy for years, periodic tenancy automatically renews itself for a like period of time. An example of this is a month-to-month apartment rental. Thus, the tenancy continues unless the tenant or landlord acts to terminate it. In an attempt to avoid last-minute confusion, rental agreements usually require advanced notice if either the tenant or landlord wishes to terminate the tenancy.

Auctions

Also known as a public auction, or auction sale. The borrower, or any other defendant named in a lawsuit, may reply to the suit by presenting their side of the issue to the court judge. If no reply is made, or if the issues raised by the reply are found in favor of the lender, the judge will order that the interests of the borrower and other defendants in the property be foreclosed and the property sold. The sale is usually a public auction. The objective is to obtain the best possible price for the property by inviting public, competitive bidding in the sale of the property.

Tenancy at Will

Also known as an estate at will, a tenancy at will is a typical landlord-tenant relationship, except the tenancy may be terminated by the landlord or tenant at any time. States recognize, however, the inconvenience presented by a literal interpretation of any time, so ORS 91.050 describes a reasonable amount of notice required before termination in Oregon.

Tenancy for Years

Also known as an estate for years. Unlike its name implies, an estate for years may last for any fixed period of time—a tenancy for one day or for a century can be called an estate for years. Because the length of tenancy is specified, the lease does not automatically renew itself. Neither the tenant or landlord must act to terminate it, since the lease itself pinpoints a termination date.

Nonhomogeneity

Also known as heterogeneity, nonhomogeneity means that no two parcels of land are exactly alike-because no two parcels of land can occupy the exact same space on the globe. In courts of law, nonhomogeneity is described as a nonfungible commodity; meaning, land is non-substitutable. For instance, in a contract to sell a home, the seller must transfer ownership of that specific home to the buyer; the seller cannot give the buyer a substitute home. In contrast, homogenous or fungible goods are commodities that can be freely substituted in carrying out a contract. Goods like oil, wheat, and lumber, and items like stocks and bonds are homogenous. If you buy one piece of 2 x 8 x 16 No. 2 rough cedar lumber, that piece may be freely replaced by another piece of the same grade and dimensions. Similarly, one share of General Electric common stock can be substituted for another, since all are identical.

Tenancy at Sufferance

Also known as holdover tenancy, this occurs when a tenant stays beyond his legal tenancy without the landlord's consent. The tenant wrongfully holds the property against the owner's wishes. The person still living on the estate may be known as a holdover tenant, but they are no longer a tenant in the normal landlord-tenant sense. The landlord is entitled to evict him and recover possession of the property, but it should be done in a timely manner. The only difference between a trespasser and a holdover tenant is that the holdover tenant's original entry was rightful. If a holdover tenant resumes paying rent, and the landlord accepts the rent, the tenancy at sufferance changes to a periodic tenancy.

Sole Proprietorship

Also known simply as a proprietorship, the sole proprietor is an unincorporated business with one owner.

Historical Applications of the Condominium Concept

Although there are historical references detailing the sale of portions of a building or other airspace which date as far back as the days of the Babylonian Empire (some 2,000 years B.C.) and other references for condominium-like arrangements during the medieval period in Europe, the first actual laws or statutes known to relate to the condominium concept come in the Napoleonic Code of 1804.

Abstract of Title

An abstract of title, or property abstract, is a collected and condensed history of a property. An abstract is the documentation of the "chain of title." An abstract of title contains documentation that traces the history of the property from the first time it was it conveyed to private ownership. The abstract of title then covers all transfers of title up to the present. All of the encumbrances that affect the property are described along with a financial examination of all the names that appear in the property's history. The abstract of title will have a certificate from the person who compiled the abstract that all the information is complete and accurate. Next, the abstract is sent to an attorney. Based on the attorney's knowledge of law and the legal history presented in the abstract, the attorney renders an opinion of title. This opinion of title is a decision as to who the fee owner is and names anyone else with a legitimate right or interest in the property. This written, signed opinion from the attorney, when attached to the abstract, is known in many states as a certificate of title.

Subdivision

An area of housing, or land divided into plots for sale.

Block

An area of land bounded by four streets in a town or suburb.

Site

An area of land on which a town, building, or monument is being built or could be built.

Broker Participation

An arrangement for third-party brokers to register potential bidders for properties being sold at auction for a commission paid by the owner of the property or the auction firm.

Auction With Reserve

An auction in which the seller or his agent reserves the right to accept or decline any and all bids. A minimum acceptable price may or may not be disclosed and the seller reserves the right to accept or decline any bid within a specified time.

Absolute Auction

An auction where the property is sold to the highest qualified bidder with no limiting conditions or amount. The seller may not bid personally or through an agent. Also known as an auction without reserve.

Easement Appurtenant

An easement appurtenant is an easement that attaches to a specific piece of land and benefits the easement owner. The land that benefits from the easement is termed the dominant estate, and the property that is burdened (affected) by the easement is called the servient estate. Say, for example, a property owner set up an easement appurtenant to allow his property to access a public street on the other side of his neighbor's property. The neighbor's property would be the servient estate, since the easement allows another person to freely cross the property. The property needing access to the public street would be the dominant estate since it is the property that benefits from the easement.

Easement by Implication

An easement by implication occurs when there is a subdivision of a property and one of the smaller sections requires an easement. The need for street access by a parcel that is boxed in by other properties as a result of the subdivision would qualify for an implied easement. The other requirement for an easement by implication, besides that the property was once unified and the area of the easement was used like an easement before the subdivision, is that providing access to the dominant property in any other way would be unreasonably expensive.

Easement by Necessity

An easement by necessity is created solely by the necessity of the situation. The easement goes away, however, if and when the situation requiring the easement goes away.

Easement by Prescription

An easement by prescription is one where an easement is established without the permission of a landowner or without necessity. The concept is that someone is using someone else's property as if they had an easement, but because it has been going on for a significant amount of time, and the servient property owner has done nothing about it, an easement is created.

Easement in Gross

An easement in gross allows rights to a servient estate without the easement being attached to, or benefiting, a particular piece of land. Since this kind of easement is not attached to a particular property, it remains with its holder. For example, a public utility is the holder of an easement in gross that runs along the edge of several properties. The easement allows the utility to erect and maintain a series of electrical poles that run along the servient properties. The utility's easement does not benefit any one property but rather allows the utility to work in a section of all the affected properties.

Easements

An easement is a stick in the bundle of rights. An easement is the right of one party to use the property of another party. A fee is paid to the property owner in return for the right of easement. An easement, therefore, does not dispossess the landowner. Rather, it creates a coexistence between the landowner and the holder of the easement. Easements are commonly used to allow a property owner to access a public service on the other side of a neighboring property. Private examples of easements include roadways so that a property owner can get to a public street. Public examples of easements include allowances for public utilities to run power lines and sewer lines across private land. It is important to consider how an easement may affect the value of a property. An unsightly power line can lower a property's visual appeal and, consequently, lower the sale price of the property.

ORS 87.362 Irrigation power lien

An electric cooperative or electric utility that supplies electricity to the owner of land for the purpose of providing power for the irrigation of the land has a lien upon that land, any part of which is irrigated using such electricity, for the cost of the electricity so supplied. If the owner has less than a fee simple estate in such land, then only the interest of the owner therein is subject to the lien created by this section.

Encroachments

An encroachment occurs when a property owner builds something, intentionally or unintentionally, that sits, at least partially, on a neighboring property owner's land. It is also possible for trees and shrubs to grow across property lines and encroach on a neighbor's air space, or for the tree's roots to encroach a neighbor's property underground. Encroachments can occur accidentally if the division line between the properties is not clear or was improperly recorded.

Enfeoffment

An enfeoffment is a term for a deed that certifies the complete transfer of an estate in land to another person. An estate in land is an interest (the bundle of rights) in a piece of real estate. A freehold estate in land is one that involves the right of ownership.

Environmental Impact Reports

An environmental impact report (also known as an environmental impact assessment or environmental impact statement) is a detailed analysis of all the effects that a particular construction project or land development will have on the local ecosystem and natural environment. The report often includes analysis of changes in noise levels, population stress on resources, traffic patterns, and air quality. It may also contain analysis of the effect that the construction project or land development will have on local endangered species and community beauty.

Express Easement

An express easement is one that is explicitly laid down in a contract, deed, or will.

Bounds

An imaginary line running along a property boundary which indicates the point of separation between two parcels.

ORS 93.808 Approval of Governmental Unit Required to Record Certain Instruments

An instrument conveying title or interest to the State of Oregon or to a county, city or other political subdivision in this state may not be recorded unless the instrument carries an indication of approval of the conveyance by this state or the political subdivision accepting title or interest.

ORS 87.037 Prohibition Against Claim of Lien

An original contractor may not claim a lien arising from the improvement of real property if a written contract for the work is required by ORS 701.305 and the contractor does not have a written contract.

Owner

An owner is defined as any individual or commercial entity which owns a facility as described above.

Greenfield

An undeveloped piece of land, relating to or denoting a site for commercial development or exploitation.

Implied Warranties

An unwritten or implied warranty guarantees sound workmanship, fitness, and habitability of a new home. Implied warranties have been established by judicial decisions that have interpreted state statutes. This process was described by Lord Steyn as follows: "The function of the law of contracts is to provide an effective and fair framework for contractual dealings. This function requires an adjudication [i.e., rulings by courts] based on the reasonable expectations of parties." Reasonable expectations of a homeowner, therefore, have become defined by the courts on a case-by-case basis as the foundation for implied warranties.

Emblements

Annual cultivated crops are called emblements. Emblements, such as vineyards, fruit orchards, hay fields, and vegetable crops, require labor and are planted each year. Even though emblements are attached to the soil, they are treated as the tenant's property rather than the landowner's. This implies the tenant's right for their harvest. That means, basically, that a farmer is entitled to the fruits of their labor. Even if a landowner terminates a tenant's lease in the middle of a growing season, the tenant still owns the crop and shall be granted legal access to the land to harvest their crop(s).

Encasement

Another commonly used treatment is cement-based solidification and stabilization. Cement is used because it can treat a range of hazardous wastes by improving physical characteristics and decreasing the toxicity and transmission of contaminants. In some cases, the hazardous waste is actually encapsulated in a shell of common Portland cement. In other cases, depending on the type of material, the waste is actually combined into the cement mixture. The cement produced is categorized into five different divisions, depending on its strength and components. This process of converting sludge into cement might include the addition of pH adjustment agents, phosphates, or sulfur reagents to reduce the settling or curing time, increase the compressive strength, or reduce the leachability of contaminants.

ORS 93.660 Effect of Abstract of Title as Evidence

Any abstract of title to real property in this state certified by any person regularly engaged in this state in the business of preparing and certifying such abstracts shall be received in all courts as prima facie evidence of the existence, condition and nature of the record of all deeds, mortgages and other instruments, conveyances or liens shown or mentioned in the abstract as affecting the property, and that the record is as described in such abstract.

ORS 88.020 Joinder of foreclosure suit involving real property with suit to quiet title

Any cause of suit involving real property provided for in ORS 88.010 may be joined with any cause of suit provided for in ORS 105.605 in the same complaint or cross-complaint, if both causes of suit involve the same real property or some part thereof and are separately stated. Any person may be joined as a party who is a proper party to either cause of suit. The court, in event of such joinder, may render a judgment that will, among other things, determine the paramount title to the real property involved or any part thereof.

ORS 92.485 Waiver of legal rights void

Any condition, stipulation or provision in any sales contract or lease, or in any other legal document, binding any purchaser or lessee to waive any legal rights under ORS 92.305 to 92.495 against the subdivider, series partitioner or developer shall be deemed to be contrary to public policy and void.

ORS 223.212 Right of educational, religious, fraternal or charitable organizations and public corporations to bond the assessment

Any educational, religious, fraternal or charitable organization or public corporation owning property assessed for its proportionate share of the cost of constructing a local improvement shall have the same right to bond the final assessment therefor and having bonded the final assessment shall be subject to the same duties and liabilities as a natural person bonding an assessment. However, the limitations on the amount of an assessment that may be bonded do not apply to an educational, religious, fraternal or charitable organization or public corporation. The organization or public corporation shall be permitted to bond to the full extent of the assessment.

Operator

Any individual responsible for the control, operation, or maintenance of a facility.

ORS 312.220 Judgment as evidence and estoppel

Any judgment for the sale of real property to the county, on foreclosure for delinquent taxes, is conclusive evidence of its regularity and validity in all collateral proceedings, except where the taxes have been paid or the property was not liable to assessment and taxation. The judgment is prima facie evidence that the taxes have not been paid and that the property was subject to taxation at the time it was assessed. The judgment shall estop all persons raising objections thereto, or to the title based thereon, which existed at or before the date of the judgment and could have been presented as an objection or defense to the application for the judgment.

ORS 91.100 Waiver of notice

Any person entering into the possession of real estate under written lease, as the tenant of another, may, by the terms of the lease of the person, waive the giving of any notice prescribed by ORS 91.050 to 91.070.

ORS 88.030 Other lienholders and debtors as defendants; effect of failure to redeem

Any person having a lien subsequent to the plaintiff upon the same property or any part thereof, or who has given a promissory note or other personal obligation for the payment of the debt, or any part thereof, secured by the mortgage or other lien which is the subject of the suit, shall be made a defendant in the suit, and any person having a prior lien may be made defendant at the option of the plaintiff, or by the order of the court when deemed necessary. The failure of any junior lien or interest holder who is omitted as a party defendant in the suit to redeem within five years of the date of a sheriff's sale under ORS 88.106 shall bar such junior lien or interest holder from any other action or proceeding against the property by the person on account of such person's lien or interest.

ORS 312.070 Answer and defense to application by person interested

Any person interested in any real property included in the foreclosure list may file an answer and defense to the application for judgment within 30 days after the date of the first publication of the foreclosure list, exclusive of the day of the first publication. The answer and defense shall be in writing under oath and shall specify the particular cause of objection.

ORS 281.085 Decision on benefits; hearing; review

Any person who applies for relocation benefits or assistance under ORS 281.060 shall receive the public entity's written decision on the application which shall include the statement of the amount awarded, if any, the statutory basis for the award, and the statement of any finding of fact that the public entity made in arriving at its decision. A person aggrieved by said written decision shall be entitled to a hearing substantially of the character required by ORS 183.415, 183.425, 183.450, 183.460 and 183.470, unless federal, state or local law provides otherwise. Notice required by ORS 183.415 must be served within 180 days of the receipt of the written decision by the aggrieved party. The decision of the public entity shall be reviewable pursuant to ORS 183.480.

ORS 305.810 Verification of return, statement or document filed under tax laws

Any return, statement or other document required to be filed under any provision of the laws administered by the Department of Revenue, in lieu of any oath otherwise required, shall: (1) Contain or be verified by a written declaration that it is made under penalties for false swearing; or (2) Be verified, by such other means as the department may prescribe by rule, that it is made under penalties for false swearing. [Formerly 306.410]

ORS 223.285 Separate funds kept for moneys received; investments authorized

Any treasurer receiving any payments of final assessments or interest on unpaid installments by virtue of the Bancroft Bonding Act, shall account for the payments separately from other funds of the local government. The amount of the moneys paid on account of installments, interest on unpaid installments and late payment penalties or charges, shall be placed to the credit of a fund to be known and designated as "Bancroft Bond Redemption Fund" or in any designated account of the redemption fund that may be established by the local government under this section. All interest and principal due on bonds issued under ORS 223.235 shall be paid from the redemption fund or from a designated account of the redemption fund. The amount placed to the credit of the redemption fund or any account of the fund shall from time to time, under the direction of the governing body of the issuing local government, be invested as provided in ORS 294.035 or 294.805 to 294.895.

Monument

Any visible, permanent object, sometimes natural but often artificial, used to mark termination of bounds and the beginning of the next call.

ORS 215.455 Effect of approval of winery on land use laws

Any winery approved under ORS 215.213, 215.283, 215.284, 215.452 and 215.453 is not a basis for an exception under ORS 197.732 (2)(a) or (b). [1989 c.525 §5; 2007 c.71 §73; 2011 c.679 §9]

ORS 312.210 Appeal

Appeal from any judgment under ORS 312.010 to 312.120 and 312.130 to 312.240, or from any final order in the proceeding, may be taken to the Court of Appeals by giving notice thereof orally in open court at the time of the judgment or final order, or by giving written notice thereof at any time within 30 days after the date of the judgment or final order. The manner of perfecting appeals to the Court of Appeals and the proceedings thereon, and the determination and disposition thereof, shall be governed by the statutes on appeals in equitable cases.

Duty to Correct

As discussed earlier in this class, with relation to Superfund (or Comprehensive Environmental Response, Compensation, and Liability Act of 1980 - CERCLA), hazardous waste law discusses responsibilities in terms of facilities, owners, and operators. There are other responsibilities discussed under the law, but these three categories of responsibility are the most common areas that agents and brokers will encounter in their dealings. As a quick review, let's look at the definitions of these terms one more time.

ORS 281.210 Definitions for ORS 281.210 to 281.260

As used in ORS 281.210 to 281.260: (1) "Property" means real property, water, watercourses, and water and riparian rights, or any right or interest therein. (2) "Board" means: (a) The state board of commissioners, trustees, or other state board, having direction of the state department or institution for which the property is desired; or (b) The Division of State Lands, if there is no other state board for the department or institution for which the property is sought to be acquired.

ORS 281.505 "Municipal corporation" defined

As used in ORS 281.510 to 281.550, "municipal corporation" includes any county, city, port or other public or quasi-public corporation.

ORS 468.263 Definitions for ORS 468.263 to 468.272

As used in ORS 468.263 to 468.272, unless the context requires otherwise: (1) "Bonds" means revenue bonds or other types of obligations authorized by ORS 468.263 to 468.272. (2) "Pollution control facilities" or "facilities" means any land, building or other improvement, appurtenance, fixture, item of machinery or equipment, and all other real and personal property, whether or not in existence or under construction at the time the bonds are issued, which are to be used in furtherance of the purpose of abating, controlling or preventing, altering, disposing or storing of solid waste, thermal, noise, atmospheric or water pollutants, contaminants, or products therefrom. (3) "Governing body" means the county court or board of county commissioners.

ORS 88.710 "Lien" defined

As used in ORS 88.710 to 88.740, "lien" means any charge upon property for the payment or discharge of a debt, tax or duty due the State of Oregon or any agency of the state, including judgment liens, recorded warrants or any notice or claim of amount due given by the state, or an agency thereof, pursuant to law and carried forward on the County Clerk Lien Record or the register of the circuit court of the county wherein property is located to which a lien of the state attaches.

ORS 92.830 Definitions for ORS 92.830 to 92.845

As used in ORS 92.830 to 92.845, unless the context requires otherwise: (1) "Declarant" means a person who makes a declaration pursuant to ORS 92.845. (2) "Lot" has the meaning given that term in ORS 92.010. (3) "Manufactured dwelling" has the meaning given that term in ORS 90.100. (4) "Manufactured dwelling park" and "mobile home park" have the meanings given those terms in ORS 446.003. (5) "Person" has the meaning given that term in ORS 92.305. (6) "Tenant" means a person who owns and occupies as a residence a manufactured dwelling or mobile home on a rented space in a manufactured dwelling park or mobile home park.

ORS 93.779 Definitions for ORS 93.779 to 93.802

As used in ORS 93.779 to 93.802: (1) "Master form instrument" means an instrument containing a form or forms of covenants, conditions, obligations, powers and other clauses of a mortgage, a trust deed or an instrument creating affordable housing covenants. (2) "Short form instrument" means a short form mortgage, a short form trust deed or any instrument that documents a real estate transaction that incorporates by reference and applies all or any affordable housing covenants created in a recorded master form instrument into the transaction.

ORS 306.006 "Manufactured structure" defined

As used in ORS chapters 306, 308, 310 and 311, "manufactured structure" has the meaning given that term in ORS 446.561.

ORS 537.010 Definition of Water Rights Act

As used in this chapter, Water Rights Act means and embraces ORS 536.050 (Fees), 537.120 (Right of appropriation), 537.130 (Permit to appropriate water required), 537.140 (Application for permit) to 537.252 (Certificate issued for land not described in permit), 537.390 (Valuation of water rights) to 537.400 (Reservoir permits), 538.420 (Portland's right to waters of Bull Run and Little Sandy Rivers), 540.010 (Water districts) to 540.120 (Lien for wages and expense), 540.210 (Distribution from ditch or reservoir) to 540.230 (Distribution of waste or seepage water), 540.310 (Ditches and canals) to 540.430 (Nonpayment by ditch co-owner), 540.505 (Definitions) to 540.585 (Temporary transfers within Deschutes River Basin) and 540.710 (Interference with headgate, or use of water denied by watermaster or other authority) to 540.750 (Injunction suits).

ORS 312.005 "District attorney" described

As used in this chapter, unless the context requires otherwise, "district attorney" shall include county counsel appointed pursuant to ORS 203.145.

Impact Lessens over Time

As with work mentioned earlier, these studies also found that the effects of contamination on pricing deteriorated over time, with the greatest effects on pricing coming chronologically early in the contamination life cycle. Market demand had a significantly greater impact on residential pricing than on commercial pricing. Increased demand did not seem to increase market prices for residential housing as greatly in contaminated areas as it did in non-contaminated areas. Housing near a contaminated site did increase in value, but neither at the same rate nor to the same degree as a comparable property in an unaffected area. In commercial settings, this effect was also seen, but not nearly to the degree it was found in the residential market. Market demand in commercial settings did not erase the effects of contamination or stigma, but as demand increased, prices for commercial properties in contaminated areas also increased proportionately with prices for properties in non-contaminated areas.

ORS 223.280 Right of owner to prepay balance and discharge lien

At any time after issuance of bonds under ORS 223.235, any owner of a lot against which the final assessment is made and lien docketed may pay into the treasury of the issuing local government the whole amount of the final assessment for which the lien is docketed, together with the full amount of interest and late payment penalties and charges accrued thereon to the date of payment. Upon producing to the recorder of the local government the receipt of the treasurer, the recorder shall enter in the lien docket opposite the entry of the lien the fact and date of the payment and that the lien is discharged.

Property Tax Liens

At the beginning of each tax year, a property tax lien is placed on taxable property. It is removed when the property taxes are paid. This kind of lien takes priority over most other property-based liens. If the taxes go unpaid for too long, the local municipality is allowed to foreclose on the property. If the foreclosure is completed, the property goes into the possession of the local municipality which gives that municipality the right to sell the property at public auction.

When creating the plat for a subdivision, a surveyer may be required to lay down monuments. Where are such monuments typically placed? Wherever it is "easiest and most convenient" At the point of reference from which all distances are calculated (usually the exact center of the parcel) At the corners of a parcel and where there are changes of direction for the borders of the parcel Where they can be seen from adjoining parcels and public rights of way

At the corners of a parcel and where there are changes of direction for the borders of the parcel

General Areas of Control for Associations

Author Kay Senay, on her website condo-condominium.com, publishes this list of "21 Condo Board Responsibilities" that nicely summarizes the general areas of control of a typical association: 21 Condo Board Responsibilities by Kay Senay "The 21 condo board responsibilities (there may be more) include the strategy and management of the community. Those responsibilities include making all the business decisions that affect the association. The responsibilities of the board are defined in the governing documents. Most owners don't understand that community associations are big business. Budgets often exceed $1 million annually and the condo board responsibilities are many, including pets and parking, crime on the common grounds, employment, and maintenance, to mention a few." Her book Condo Buying & Ownership Made Simple: Tips to Save Time and Money is available on Amazon.

There are some basic ground rules that condo boards should adopt in addition to their normal responsibilities:

Be consistent Be vigilant Enforce all the rules Review documents regularly Ask when you do not know Be honest Be respectful of others Do not attack

ORS 281.520 Resolution of intention; determination of necessity

Before the right to purchase, acquire, enter upon and appropriate any adjoining land or property under ORS 281.510 is exercised by any municipal corporation, the municipal authorities thereof shall by appropriate ordinance or resolution, describe the land to be purchased, acquired, entered upon or appropriated, and shall further determine that the appropriation of such land is reasonably necessary to protect the full use and enjoyment by the public of the road, street or highway.

Condominium Association Bylaws

Board members must become intimately familiar with their condominium association bylaws. Management of all condominiums is governed by the association bylaws. Board members must understand all items addressed in the bylaws, often called the "condo docs." Furthermore, boards must learn all state statutes that relate to bylaw subjects and, to avoid legal problems, strictly follow the letter of state laws.

Qualifying Properties for a 1031 Exchange

Both the property sold and the property purchased must meet certain requirements. Both properties must be held for use in a trade or business or for investment. Property used primarily for personal use, such as a primary residence or a second home or vacation home, does not qualify for a like-kind exchange. Like-kind property is property of the same nature, character, or class. Quality or grade does not matter. Most real property will be like-kind to other real property (e.g., real property that is improved with a residential rental house may still be like-kind to vacant land). One exception, however, is that property inside the U.S. cannot be treated as like-kind to property outside of the U.S. Also, improvements that are conveyed without land are not of like-kind to property with land. While real property and personal property can both qualify as exchange properties under Section 1031, real property can never be like-kind to personal property. Rules in personal property 1031 Tax-Deferred Exchanges are more restrictive than the rules in real property exchanges (e.g., cars are not like-kind to trucks).

Basic Construction Types of Buildings and Materials

Buildings are sorted into five categories (Types 1-5), ranging from the least combustible to the most combustible. Classification of a building class is based on two factors: building materials and fire-resistance rating.

"Run with the Land"

CC&Rs can expire when property is transferred to a new owner, or the CC&Rs may "run with the land" and affect subsequent owners.

Legal Notices

Certain localities will have legal notices that are required to be included on deeds transferring real property. For instance, under Measure 49, any devices that transfer ownership of real property (such as deeds) must include a notice concerning the fact that the new owner doesn't have any rights to claim exemptions under Measure 49 for currently existing land use regulations.

Accessibility vs. Mobility

Cities and other major activity centers tend to have poor vehicle mobility due to traffic congestion. Many are economically successful, however, due to excellent accessibility; that is, several activities are clustered together with many travel options available to reach them. When it comes to economic competitiveness, accessibility beats mobility. This suggests that if people have good transportation options, and if land-use patterns minimize the amount of driving required to reach common activities and destinations, then traffic congestion itself is not necessarily a major constraint on economic activity. Smart growth strategies that result in more accessible destinations and activities may be the best way to improve transportation networks and increase economic productivity.

Clay

Clay soil has the smallest particles, so it has superior water-storage qualities. It's sticky when wet, and smooth when dry. Due to its small particle size, clay soil tends to settle together, allowing very little air to pass through its spaces. Because it drains slowly, it has a tighter hold on plant nutrients.

Master Plan Primacy

Click To Enlarge This presumption of primacy of the master plan has been established through court cases, and provides a firm basis for regulation through zoning. A master plan is a comprehensive long-range plan intended to guide growth and development of a community or region. It includes analysis, recommendations, and proposals for the community's population, economy, housing, transportation, community facilities, and land use. It is based on public input, surveys, planning initiatives, existing development, physical characteristics, and social and economic conditions. A master plan is a policy-based document. It does not, and is incapable of regulating land use. A master plan is also not a zoning document; therefore, the recommendations in a master plan are only for guidance, not to specifically or directly regulate properties or land use. Where there is no evidence that the legislative body's zoning decision was based upon a factual and analytical framework, no consideration of significant conditions in the community, and no focus on the particular piece of property at issue, the zoning decision must be suspect. The factual studies and analytical framework necessary to review zoning decisions most often are manifested in the form of comprehensive plans.

Fiduciary Duty

Condominium associations must fulfill their fiduciary responsibility to manage the project in a businesslike and conservative manner. Depending on the size of the condominium project, association boards may manage many dollars and navigate complex business issues. Fiduciary duty is typically measured by evaluating the actions of individuals or groups that "reasonably prudent" persons would take. For example, neglecting to collect condo fees, putting insufficient reserves in the budget, or not completing necessary repairs is a breach of fiduciary responsibility. Condominium boards usually have individual and collective fiduciary responsibility and could be subject to serious lawsuits from unit owners for failing to act prudently.

The Condominium Association Roles and Responsibilities

Condominium boards have complete management responsibility for their community. Even if they outsource some duties to a professional management company, boards still retain these responsibilities. Since individual homeowners, who may not be well versed in real estate management and legal issues, serve on these boards, all members should understand their duties and responsibilities. Condominium boards also should retain experienced legal counsel and/or accountants to be information resources and advisers when more vital or confusing legal and financial matters arise.

Condominium Creation

Condominiums do not need to be built in the form of a multi-unit dwelling. It's possible for a condominium to be a high-rise "apartment" building. But townhouses, row-homes, detached homes, office buildings, or even office space also can be condominiums. When an individual or company decides to create a condominium, they must declare their intent to do so by filing, or recording, their Declaration with the appropriate municipal, county, or state government authorities. This Declaration is often referred to as the master deed. Along with the master deed, or Declaration, they also must file the bylaws and floor plan of the new condominium. With this filing, the condominium is legally created.

Adaptation of the Object

Consider if the object can be reasonably separated from the real property without interfering with the function of the property or the object. What we are looking at here is how adaptable the property is to losing the object—and how adaptable the object is to separation from the property. Historically, the method of attachment was sufficient when deciding if an object was a fixture. But that question alone is inadequate.

Oregon Construction Lien Law (ORS 87.001 - 87.093)

Construction liens have been a part of Oregon's law for over 100 years. Under this law, anyone who constructs improvements on property, supplies materials, rents equipment, or provides services for improvements has a right to collect payment from the property if they are not paid. If the general contractor is not paid or does not pay the subcontractors, laborers, material suppliers, or equipment rental companies, those persons may claim a lien against the property. The purpose of the construction lien law is to ensure that people are paid for value that they add to someone's property. A bank, for example, can reclaim a car if payments are not made. Work done to real estate, however, is permanent and cannot be reclaimed. Lien laws protect those persons working on the property who do not have a contract directly with the property owner (who contracted only with the general contractor). Usually, the property owner has a contract with a general contractor. The general contractor then contracts with subcontractors to provide services such as roofing, drywall, plumbing, electrical, painting, or window installation. A property owner does not usually hire the subcontractors. Having a lien against a property is a serious matter. If the lien is valid and the person filing the lien is not paid, then the property owner could be legally forced to sell the property to pay the lien holder.

ORS 62.115: Purposes for Which Cooperatives May be Organized

Cooperatives may be organized under this chapter for any lawful purpose or purposes, except for the purpose of banking or insurance.

ORS 93.760 Recordability of Documents, Orders and Decrees of the United States District Court

Copies of documents, orders and decrees in proceedings in the District Court of the United States for the District of Oregon, which have been certified by the clerk of such court, and which affect title to real property in this state, shall be entitled to be recorded in the deed records of any county in which such real property is located.

Waste is "hazardous waste" if it has which one of these characteristics? Docility, habitability, biodiversity, monumentality Drinkability, fertility, nonhomogeneity, privity Absorbability, circularity, ignobility, luminosity Corrosivity, ignitability, reactivity, toxicity

Corrosivity, ignitability, reactivity, toxicity

Condominium Association Budget

Creating and managing the association budget is a critical duty for condominium boards. The most common reason for condominium problems is mismanagement or misuse of the budget. Association boards without an experienced accountant as a member should consider getting advice from an outside CPA to ensure that their budget is reasonable and complete. Condominium budgets should be built like those of nonprofit corporations. By estimating expenses, including insurance, landscaping, trash removal and similar operating costs for the coming year, the association board determines the amount of monthly individual homeowner assessments, commonly called "condo fees."

Debt Stigma

Debt collectors not aware that a debtor has moved out of a particular residence may continue their pursuit at the same location, possibly resulting in harassment to innocent subsequent occupiers.

The __________ is the agency for the State of Oregon for the administration of the Pollution Control Fund. Department of Environmental Quality Department of Motor Vehicles Department of Energy Department of State

Department of Environmental Quality

This department has general supervision and control over tax foreclosure proceedings: Department of Commerce Department of Justice Department of Revenue Department of the Interior

Department of Revenue

When Depreciation Commences

Depreciation begins when a taxpayer places property in service for use in a trade or business or for the production of income. The property ceases to be depreciable when the taxpayer has fully recovered the property's cost or other basis, or when the taxpayer retires it from service, whichever happens first.

Legal Rights and Remedies

Determining the legal effect of specific provisions, however, is considered the practice of law in Oregon and, therefore, beyond the expertise of a real estate licensee. If the need for this arises, consult an attorney with any questions about CC&Rs or the legal rights and remedies they confer. Or, more appropriately, refer the client to seek counsel.

Intention of the Installer

Did the party installing the object or having it installed intend for the installation to be permanent? The intention is usually deduced from the circumstances—not from what a person might say later about what their intention was. If a person installed solar panels on the roof of their home, the law will presume they intended them as fixtures because the installation was intended to benefit the house. They would not be allowed to remove the solar panels when they sold the house by claiming that they had not intended to make them a fixture.

Wetland Threats

Direct and indirect threats to wetlands, both natural and man-made, come in the form of: Development/Fill Alterations of hydrology (i.e., dam construction, exploitation of groundwater aquifers, etc.) Erosion (although this has been determined to be non-threatening to Oregon's coastal wetlands) Pollution (particularly runoff from streets, roads, and other impervious surfaces in urban areas, and septic tank discharge in rural areas) Channelization (diversion of natural streams and rivers into impervious channels for distribution to farmlands and private property) Nuisances or exotic (non-native) species Freshwater input (this has also been determined to be non-threatening to Oregon's coastal wetlands) Sea level rise A predicted Cascadia Subduction Zone earthquake

Oregon Property Disclosure Statement and Stigmatized Properties

Disclosure statements, which come in a variety of forms, are the buyer's opportunity to learn as much as they can about the property and the seller's experience in it. The information on the disclosure ranges from knowledge of leaky windows to whether illicit drugs were manufactured on site. Disclosure documents inform buyers and can also protect sellers from future legal action. It is the seller's chance to lay out anything that can negatively affect the value, usefulness, or enjoyment of the property. A disclosure is not the same thing as an inspection; because there are things the seller may not be aware of that an inspection brings to light. As a real estate agent, always err on the side of caution: If you know it, disclose it - unless prohibited by the client.

The Right of Disposition

Disposition refers to the act of giving away one or more individual property rights up to and including the entire bundle of rights. The holder of the right of disposition is officially allowed to cease possessing or owning a piece of real property. Another way to say this is that the right of disposition is the right to rent, transfer, sell, or (in some cases) abandon a property. If a party has the right of disposition, they can give up some, or all, of their control over a property. By renting out apartments, the owners of an apartment complex have exercised their right of disposition. A property owner who subdivides their land has also exercised the right of disposition.

What is the very first question on the Oregon Seller's Property Disclosure Statement? Are there any material defects affecting this property or its value that a prospective buyer should know about? Is the property in violation of recorded covenants, conditions and restrictions or in violation of other bylaws or governing rules, whether recorded or not? Is the property in a designated geological hazard zone? Do you have legal authority to sell the property?

Do you have legal authority to sell the property?

Natural Drainage Rights

Drainage law regulates surface water and sets guidelines for the diversion and obstruction of natural run-off on property. Oregon drainage law, which originates from common law, developed without legislative action. Instead, Oregon drainage law developed in court decisions issued over time therefore, there are no Oregon Revised Statutes, rules, or other laws to reference. Under the civil law doctrine of drainage, which Oregon has adopted, adjoining landowners are entitled to have the normal course of natural drainage maintained. A lower landowner must accept water that naturally comes to their land from above. The lower landowner may not divert or obstruct the runoff from the upper land. Likewise, the upper landowner may not divert or obstruct the water from naturally discharging.

Due Care

Due care means to take action to protect people from contact with contamination, allow the safe redevelopment of contaminated property, and prevent spreading the contamination off property. Exposure to contamination can come through breathing contaminated vapors, drinking contaminated water, or contacting contaminated soils.

ORS 88.040 Foreclosure suit during and after action for debt

During the pendency of an action for the recovery of a debt secured by any lien mentioned in ORS 88.010, a suit cannot be maintained for the foreclosure of the lien, nor thereafter, unless judgment is given in such action that the plaintiff recover the debt or some part thereof, and an execution thereon against the property of the defendant is returned unsatisfied in whole or in part.

Common encumbrances include which of the following? Qualified fee estates, life estates, statutory estates, freehold estates, and leasehold estates Eminent domains, condemnations, and severances Lessors, lessees, grantors, grantees, and beneficiaries Easements, covenants, liens, and encroachments

Easements, covenants, liens, and encroachments

Economic Obsolescence

Economic obsolescence is the loss of value due to external forces or events. A once-popular neighborhood, for example, that becomes undesirable because of air or noise pollution, or because surrounding property owners fail to maintain their properties. Or, a city that is dependent on a lumber mill finds the mill closed and, with it, a drop in demand for real estate.

Eminent Domain

Eminent domain is a power held by the government that allows the seizing of private property for public use. The use of this power is limited by portions of both the Fifth and Fourteenth Amendment. This power is usable as long as the private property was taken for public use with "just compensation" given to the original property owner. Public use, in this case, requires that the intended use of the seized property must benefit the public in some way and not just specific individuals. "Just compensation" is a requirement established by the Fifth Amendment. Unfortunately, the concept is vague and has been the subject of a significant number of legal cases. The common practice for deciding the compensation that the original property owner receives is to calculate and offer the fair market value of the property. Fair market value is the price that could have reasonably resulted from negotiations between a willing buyer and seller. Use of eminent domain is often contested because the conditions that authorize the use of eminent domain can be broadly or narrowly defined. Furthermore, individual states have their own rules on the use of eminent domain.

Other Encumbrances

Encumbrances can also include outstanding mortgages and errors in the title documentation that interferes with the process of identifying ownership of a property. Encumbrances are sometimes referred to as title defects.

The Right of Enjoyment

Enjoyment, in this case, refers to the legal use of a piece of real estate. The right of enjoyment, then, is the official recognition that a party can utilize a property in any legally appropriate way.

Seller

Entity that has legal possession (ownership) of any interests, benefits, or rights inherent to the real or personal property.

ORS 223.290 Payments entered on lien docket; lien discharge

Entries of payments of installments, interest and late payment penalties or charges, made under the Bancroft Bonding Act, shall be made in the lien docket as they are received, with the date of payment. The payments so made and entered shall discharge the lien to the amount of the payment and from the date of the payment.

Common Law

Environmental common law is almost all tort law (as opposed to criminal law, contract law, etc). A tort is any action that one person takes that directly or indirectly harms another person. In this case, the "harm" treated under common law is usually pollution of the air or water. An overwhelming majority of the body of environmental common law deals with the Common Law Tort of "Nuisance," which has also served as the basis for much of the currently existing environmental legislation. Other aspects of common law that make an appearance with environmental issues are the common law concepts of "trespass," "negligence," "strict liability," and the intersection of "Trespass-Nuisance." We will examine each of these concepts.

What is the term for the government's right to take ownership of property that has been abandoned by someone who dies without a will and without any identifiable heirs? Fifth Amendment Escheat Suzereignity Eminent domain

Escheat

Escheat

Escheat is the right of government to take ownership of property that has been abandoned or left behind by someone who dies without a will and without any identifiable heirs. The intention of escheat is to ensure that property always has an owner. A government, however, cannot escheat a property that appears to have been abandoned. To escheat property, a government must respect due process and go through procedures that notify the public and allow claimants to argue ownership of the property.

Estoppel

Estoppel (from the Latin "to stop up") is a legal defense tool used when someone reverses or contradicts a previous agreement or claim. Estoppel prevents someone from arguing something contrary to a claim made or act performed by that person previously.

European Law

European Law (remember: this is a collection of laws from several countries, not a single body of law) came to recognize two independent, but tightly connected, rights of ownership: 1. A proportional share of the "undivided" co-ownership (i.e., the common areas); and 2. A separate right of ownership to the space defined in the conveyance (i.e., the floor, apartment, etc.). Each country, however, has taken its own stance on which of these rights has primacy in a legal dispute. Some countries' courts have ruled that the owner is actually purchasing a co-interest in the building and common areas as a whole, and that the ownership of the unit, or "space," is only an accessory to the purchase. Other countries have held the exact opposite: that the primary purchase is the purchase of the unit and the common spaces are "accessory." These decisions have had significant impact on many court rulings. In the U.S., however, the courts have held, in general, that these two rights are conjoined and may not be severed. When a purchase is made, the obligations of the owner, both as a private owner of individual space and as a co-owner of common spaces, are spelled out in the conveyance and these are considered binding, absent any unforeseen contingencies.

ORS 92.150 Construction of donations marked on plat

Every donation or grant to the public, including streets and alleys, or to any individual, religious society, corporation or body politic, marked or noted as such on the subdivision or partition plat wherein the donation or grant was made, shall be considered a general warranty to the donee or grantee for the use of the donee or grantee for the purposes intended by the donor or grantor.ORS 92.160 Notice to Real Estate Commissioner of receipt of subdivision plat

Preventing Exacerbation

Exacerbation occurs when an activity undertaken by the person who owns or operates the property causes the existing contamination to migrate beyond the property boundaries. Examples of exacerbation include: the mishandling of excavated contaminated soil such that contamination now migrates offsite, pumping contaminated water from footing drains into a nearby ditch, or creating a new migration pathway by putting a utility line through a zone of highly contaminated groundwater. An owner or operator can also exacerbate contamination by changing the facility conditions in a manner that would increase the response activity costs for the liable party. An example might be to place a building over the source of the existing contamination. A person that causes exacerbation would be liable for remediation of the contamination they caused or paying the increase in the response activity costs.

In 1961, Oregon's Legislative Assembly adopted __________. Exclusive Farm Use zoning the rectangular survey system the doctrine of prior appropriation the Federal Bankruptcy Reform Act

Exclusive Farm Use zoning

Withdrawal

Failure to reach the reserve price or insufficient bidding.

Per ORS 92.465 (Fraud and deceit prohibited), fraud and deceit is not punishable by law if fraudulently endorsed by the Real Estate Commissioner. True False

False

True or False: By definition, condominiums are built as multi-unit dwellings. False True

False

True or False: While a good recording practice, a clear chain of title is not required in order to close a real property transaction. True False

False

A real estate agent is required to have comprehensive knowledge of all building codes and regulations within their area of operation. False True

False. A real estate agent should consult experts when it comes to aspects of real estate that are without their are of expertise.

True or False: Noise, gasses, dust, or fumes are sufficient for a cause of trespass. True False; these rise only to the level of nuisance

False; these rise only to the level of nuisance

Relationship Between Federal and State Law

Federal law generally takes precedence over state law. A state may enact its own legislation that modifies federal law within the boundaries of the state, but these laws (again, generally) must be at least as restrictive as the federal standard. In other words, states may enact standards that are more strict than federal standards, but not less. With respect to environmental issues, the massive patchwork of federal law described above creates a framework for state-specific environmental laws to operate within. Where one standard is more strict than another, the stricter standard is the one that applies.

Measure 49 Required Statements

Finally, Measure 49 mandates that any instrument that transfers, or contracts to transfer, fee title to real property must contain the statements below. Note, the law specifically exempts sale agreements and earnest money receipts. This statement must be included on the final paperwork: BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. On a sales agreement and earnest money receipt, the following statement must be included: THE PROPERTY DESCRIBED IN THIS INSTRUMENT MAY NOT BE WITHIN A FIRE PROTECTION DISTRICT PROTECTING STRUCTURES. THE PROPERTY IS SUBJECT TO LAND USE LAWS AND REGULATIONS THAT, IN FARM OR FOREST ZONES, MAY NOT AUTHORIZE CONSTRUCTION OR SITING OF A RESIDENCE AND THAT LIMIT LAWSUITS AGAINST FARMING OR FOREST PRACTICES, AS DEFINED IN ORS 30.930, IN ALL ZONES. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO VERIFY THE EXISTENCE OF FIRE PROTECTION FOR STRUCTURES AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007, SECTIONS 2 TO 9 AND 17, CHAPTER 855, OREGON LAWS 2009, AND SECTIONS 2 TO 7, CHAPTER 8, OREGON LAWS 2010.

Signatures

Finally, a contract isn't legally binding unless the parties in the contract agree. This agreement must be indicated through signatures. When signing this, or any, contract both parties should assure that there are no blank spaces in the contract and that no changes have been made. If changes must be made, for any reason, then a new contract needs to be written up that has these changes incorporated which is then presented for signature.

Contamination Life Cycle

Finally, the appraisal literature has recognized that there is a so-called life cycle of the effects of contamination on property values. The impact of contamination on property values is greatest at the time of discovery and identification. Over time, as remediation efforts take place, clean-up occurs, and uncertainty diminishes, prices begin to recover. Over a longer period of time (and there is little agreement on this time frame), regardless of whether or not remediation is complete, prices will eventually return to their pre-contamination levels, assuming that no further uncertainties enter the market. This life-cycle concept also presumes that demand is stable and static across the entire period of time — clearly an unrealistic assumption, but nonetheless an important one for the basis of this theory.

Manner of Attachment

First, how is the object attached? The permanency of the method of attachment is a factor in determining if something is a fixture. Usually this involves looking at if, and how, the item is nailed, glued, fastened, or otherwise affixed to the ground or structure.

Fixity

Fixity, also called investment permanence, means that land, buildings, and other improvements require long periods of time to pay for themselves. For example, the income generated by an apartment or office building may take upwards of 20 or 30 years to repay the costs associated with developing the land and buildings and with paying interest on the money borrowed to make the purchase. For that reason, real estate investment and land-use decisions have to consider the long-term usefulness of improvements; projecting not only one or five years into the future, but 20 or 30 years down the line. It makes little sense to invest in an improvement with a five-year lifespan if it would take, in actuality, decades to pay for itself. Fixity also refers to the immobility of property. Land cannot be moved from one location to another where it would be more valuable. For the most part, improvements to land follow this same general rule. With very few exceptions, the cost of moving a house, as well as preparing a foundation at a new site, exceeds the value of the home once the move is done. This is why an investment in real estate is regarded as a fixed or "sunk" cost.

Used Oil

For hazardous waste purposes, used oil includes all synthetic oils and all oils refined from crude oil that, as a result of use, are contaminated by physical or chemical impurities. Like universal wastes, used oil that is properly managed is not counted as a hazardous waste. Used oil must be recycled. If it is not, then it must be managed as waste. Again, while these regulations are consistent across the United States, residents new to a state should nonetheless be duly informed of the laws and regulations with which they must comply.

ORS 105.462 Definitions for ORS 105.462 to 105.490

For purposes of ORS 105.462 to 105.490: (1) "Financial institution" has the meaning given that term in ORS 706.008. "Financial institution" includes a: (a) Trust company, as that term is defined in ORS 706.008; (b) Mortgage banker, as that term is defined in ORS 86A.100; (c) Mortgage broker, as that term is defined in ORS 86A.100; and (d) Consumer finance company that is licensed under ORS chapter 725. (2) "Real estate licensee" has the meaning given that term in ORS 696.010.

Three Percent Increase

For tax years after 1997-98, maximum assessed value is defined as the greater of the prior year's MAV or the prior year's assessed value increased by 3%. This means MAV will increase by 3% per year unless the RMV of the property is less than MAV for two years in a row. If this happens, MAV will not increase in the second year. Certain property events, such as new construction, can cause the MAV to increase more than 3%.

Foreclosure

Foreclosure is a legal process by which a lending institution — such as a bank or mortgage company — attempts to seize a property in order to recover at least some of the money owed by a borrower who has defaulted on a loan (often a mortgage). Governments can also initiate foreclosure procedures to recover unpaid taxes. Judicial foreclosures are supervised by local courts and often involve hearings and other court procedures. When the property is sold, the proceeds usually go first to satisfying the outstanding loan, then to other parties with liens on the property, and finally to the borrower if any money remains. The other kind of foreclosure is called nonjudicial foreclosure or foreclosure by power of sale. In this case, the loan is evidenced by a legal document called a deed of trust. The lien is actually held by a third party rather than the lender. If the borrower defaults on the loan, the property can be foreclosed on and sold without going through any court procedures.

Right of Redemption

Foreclosure, however, may not be the end of the story. The right of redemption is the legal right of any mortgagor (a borrower who owns real estate) to reclaim his or her property. Property owners who pay off the back taxes or liens on their property can prevent foreclosure or the auctioning off of their property-sometimes even after the auction or short sale has occurred. However, the amount paid must generally include the costs incurred in the foreclosure process, plus the entire amount of the mortgage if the payoff comes after foreclosure or auction.

Auction Marketing Institute, Inc.

Founded in 1976, this international association awards the professional designations CAI and AARE to properly qualified auctioneers through education, experience, and adherence to a strict code of ethics and standards of practice. Formerly known as the Certified Auctioneers Education Institute, Inc.

Functional Obsolescence

Function obsolescence results from outmoded equipment (old-fashioned plumbing fixtures), faulty or outdated design (a single bathroom in a three- or four-bedroom house, or an illogical room layout), inadequate structural facilities (inadequate wiring to handle today's household appliance loads), and even over adequate structural facilities (high ceilings in a home).

Per ORS 306.356, the Property Tax Expenditure Funding Account is created in the: General Fund Electronic Funds Transfer Department of Revenue Fund State Expenditure Fund

General Fund

Government Land Rights and Acts of Government

Government has rights to property that in some cases may supersede those granted to private parties. These rights can have a major impact on the status and value of private property.

If the governing body of a county believes that the county is in a state of fiscal distress that compromises the county's ability to provide a minimally adequate level of property tax assessment services, the governing body may request that the __________ declare a property tax assessment services emergency, a property tax collection services emergency or both. Governor Department of Revenue Legislative Assembly President

Governor

Hazardous Waste Landfills

Hazardous waste may be sequestered in a hazardous waste landfill or permanent disposal facility. "In terms of hazardous waste, a landfill is defined as a disposal facility or part of a facility where hazardous waste is placed or on land and which is not a pile, a land treatment facility, a surface impoundment, an underground injection well, a salt dome formation, a salt bed formation, an underground mine, a cave, or a corrective action management unit."

Hazardous Waste Disposal

Historically, all waste was dumped into landfills. Because these landfills contained substantial quantities of hazardous waste, toxins leached into the surrounding soil and water tables. Today, disposal of hazardous wastes is tightly regulated and even landfills that do not accept hazardous wastes are beginning to adopt countermeasures to prevent leaching of any materials into the environment, hazardous or not. Typical methods of hazardous waste disposal include: recycling; encasement; neutralization; incineration, destruction, and waste-to-energy; hazardous waste landfills; and pyrolysis.

Nuisance

Historically, nuisance cases were founded on the Latin maxim, "Sic utere tuo, ut alienum non laedas," which means, "Use your property so as not to injure another's." These cases said nothing about negligence or "reasonable use." The prohibition was absolute. Nuisance was, in early common law, a type of strict liability. Nuisance is generally broken down further into public and private nuisance. And, in case that isn't enough, any particular nuisance may be classified as both public and private.

Household Hazardous Wastes

Household Hazardous Waste (HHW), also referred to as domestic hazardous waste, is waste that is generated from residential households. HHW only applies to wastes that are the result of the use of materials labeled for and sold for "home use." Wastes generated by a company or at an industrial setting are not HHW. The following list includes categories often applied to HHW. It is important to note that many household wastes can fall into multiple categories: Paints and solvents Automotive wastes (used motor oil, antifreeze, etc.) Pesticides (insecticides, herbicides, fungicides, etc.) Mercury-containing wastes (thermometers, switches, fluorescent lighting, etc.) Electronics (computers, televisions, cell phones) Aerosols, propane cylinders Caustics, cleaning agents Refrigerant-containing appliances Some specialty batteries (e.g. lithium, nickel cadmium, or button cell batteries) Ammunition Pharmaceuticals and materials with any radioactive components

Which of the following acts does not form a basis for federal environmental law? Clean Air Act Housing Act of 1949 Superfund Act Clean Water Act

Housing Act of 1949

Housing Tenure

Housing tenure refers to the financial arrangements governing an individual's right to occupy a dwelling unit. Do they rent or own? If they own, do they own the property outright or is the property financed through a lender (e.g. a mortgage)? There are several types of housing tenure: Owner Occupancies - The person or group that occupies a house owns the building (and usually the land it sits on). Tenancies - A landlord who owns an apartment or building rents out the right to occupy the unit to a tenant. Cooperative - Ownership of the entire building or complex is held in common by a homeowners' association (HOA). Individuals have the right to occupy a particular unit by mutual agreement but do not hold exclusive ownership of it. Public Housing - Government-owned housing, whether provided for free or leased at a subsidized rate. Squatting - Occupation by non-owner without permission from the owner. Land Trust - Often used as an alternative to ownership for privacy and legal reasons, property is owned by a trust that grants occupancy rights to the members of the trust.

Housing Trust Fund

Housing trust funds are funds established by city, county, or state governments that receive ongoing dedicated sources of public funding to support the preservation and production of affordable housing. They increase opportunities for families and individuals to access decent, affordable homes.

Building Materials

Identifying which building materials (e.g. wood, steel, or masonry) are used in the construction of specific building features (or elements) creates the overall classification for that building. Those building features include: -Structural frame -Exterior bearing walls -Interior bearing walls -Exterior nonbearing walls and partitions -Interior nonbearing walls and partitions -Floor construction, including supporting beams and joists -Roof construction, including supporting beams and joists

ORS 87.376 Duration of liens

If a suit to foreclose a lien created by ORS 87.352 to 87.362 is not brought in an appropriate court within six months after the notice of claim of lien, within six months after the expiration of such extended payment, the lien shall cease to exist. A lien shall not be continued in force for a longer time than two years from the time the claim for lien is filed under ORS 87.366 by an agreement to extend payment.

ORS 312.150 Effect of failure to give notice to lienholder when requested

If a tax collector, after receiving a request for notice of tax foreclosure as provided in ORS 312.140, fails to give the notice, the failure shall not invalidate the foreclosure, but the mortgagee's or lienholder's right to redeem the property shall not terminate until the expiration of 30 days after the mailing of the notice.

ORS 215.237 Events or activities conducted by winery in exclusive farm use zone or mixed farm and forest zone

If a winery sited on land zoned for exclusive farm use or mixed farm and forest use under ORS 215.452 conducts agri-tourism or other commercial events authorized in ORS 215.452 (5), the winery may not conduct agri-tourism or other commercial events or activities authorized by ORS 215.213 (11) or 215.283 (4). [2011 c.567 §3; 2013 c.554 §4]

Intentionally Concealed Issues

If an agent representing the seller becomes aware that the seller intentionally has concealed a defect that should be disclosed to potential buyers, the agent has a legal responsibility to take action. The agent must advise the seller to disclose the information. If the seller refuses to do so, the agent must disclose the information on the seller's behalf to the potential buyer. If the agent fails to disclose a known concealed defect and liability issues arise later, the agent will be considered liable in equal measure to the liability borne by the seller. There are ethical considerations involved in disclosing information gained through privileged access to a client without the consent of that client or against the direct wishes of the client. An agent or broker might need to consider terminating their representation agreement with the seller prior to disclosing such information to a buyer. Termination of the agent agreement coupled with disclosure to the buyer should shield the agent from any liability. It is not uncommon, in these circumstances, for the seller to try to bring legal action against the agent for violating confidentiality, but the courts are unlikely to hear such cases. Given the basis in common law for the agent's affirmative duty to disclose all known material facts and the agent's affirmative action to avoid receiving any profit from association with the property, it is more likely that any attempt for an aggrieved seller to obtain legal relief would be dismissed in a summary judgment than that any hearings or trial would result.

ORS 305.775 Interest on amount of refund in certain cases

If an appeal from or petition for certiorari to review a decision of the Supreme Court of Oregon, holding a tax law or any part thereof invalid, is taken to the Supreme Court of the United States and that court does not reverse or modify the decision of the Supreme Court of Oregon, the refund of the invalid taxes shall include interest on the amount paid at the rate of six percent from the date of the last decision of the Supreme Court of Oregon in the matter to the date of filing with the Secretary of State of the report and list of taxpayers entitled to the refunds as required by ORS 305.770.

ORS 281.550 Proceedings in case of disagreement as to compensation and damages

If private property is appropriated for the public use, as authorized by ORS 281.510, and the compensation and damages arising from the appropriation cannot be agreed upon, the appropriation shall be made and the compensation and damages shall be considered, ascertained, determined, awarded and paid in the manner provided by the general laws of the state relative to condemnation, or by such means as may be prescribed by the charter, charter ordinances or ordinances of, or law governing such municipal corporation for establishing, laying out, widening, enlarging or extending streets or for acquiring private property for park purposes, at the option of the municipal authorities thereof.

ORS 407.377 Sale or management of foreclosed property under personal services contract

If the Department of Veterans' Affairs enters into any personal services contract under which any other person is authorized to sell or manage homes or farms obtained for and in behalf of this state under ORS 407.135 and 407.145 (1), then ORS 407.375 may not apply to the sale of such homes or farms by that person.

ORS 92.160 Notice to Real Estate Commissioner of receipt of subdivision plat

If the comprehensive plan and land use regulations of a city or county have not been acknowledged under ORS 197.251, the city engineer, city surveyor or county surveyor shall immediately notify the Real Estate Commissioner in writing of receipt for approval of any subdivision plat pursuant to ORS 92.100 (1). The notification shall include a general description of the land with the number of lots and total acreage covered by the subdivision plat and the names of the persons submitting the subdivision plat for approval.

Appeals

If you feel the assessor has incorrectly estimated the value of your property, you have the right to appeal. Your appeal must be based on the property's value, not on the amount of taxes shown on the tax statement. To receive a reduction in your value, you must convince your county board of property tax appeals that the value of your property is too high. Support your claim with information such as appraisal reports or comparable sales data. Your property tax was calculated on the property's assessed value, which may not be its real market value. If this is the case, you must show that the calculation of the assessed value was done incorrectly. If you are successful in gaining a reduction to only the RMV, your taxes may not be reduced.

ORS 88.100 Payment of amount due before foreclosure sale; judgment for payment of installment not due

If, before a judgment is given, the amount then due with the costs of suit is brought into court and paid to the clerk, the suit shall be dismissed. If the same is done after judgment and before sale, the effect of the judgment as to the amount then due and paid shall be terminated, and the execution, if any has issued, shall be recalled by the clerk. When an installment not due is adjudged to be paid, the court shall determine and specify in the judgment what sum shall be received in satisfaction thereof, which sum may be equal to such installment, or otherwise, according to the present value thereof.

Measure 49

In 2007, the people of Oregon passed Measure 49. The goal of Measure 49 was to fix perceived problems with Measure 37. The main provisions of the 2007 initiative changed how Measure 37 cases were to be considered and reviewed. As such, it was intended to address major problem the state had with Measure 37; that it lacked defined procedures for processing claims and for determining "value". Under Measure 49, the reduction of value must be proven by two assessments: one that was conducted in the year before the regulation took effect and one conducted in the year after the regulation took effect. If the regulation was enacted in the past, then the amount of damages awarded may have interest added (equal to the rate on a government Treasury-Bill). The other major change to the provisions enacted by Measure 37 was that Measure 49 only allows compensation for land use regulations that affect residential use of the property or farm/forest practices. This was designed to specifically prohibit the use of Measure 37 claims for commercial and industrial use. The law also exempts any land use regulations that rezone industrial land within an urban growth boundary or rezone land within an urban growth boundary to be industrial land.

Short Sales in Oregon

In Oregon, an individual who wishes to negotiate with a bank on behalf of a homeowner looking to perform a short sale must be a registered short-sale negotiator. Likewise, an individual wishing to negotiate in order to avoid foreclosure must be a registered foreclosure consultant. A real estate agent who is acting within the scope of their license and does not accept additional compensation outside of the customer fees (i.e. their real estate sales commission) can act as both a short-sale negotiator and a foreclosure consultant. When doing so, the real estate agent must be very careful. The process of managing a short sale is different from the process of managing a regular sale. These processes are not regulated by the real estate commission and can be different at each banking institution.

Land Use in Oregon

In Oregon, land use is controlled by the Department of Land Conservation and Development (DLCD). The DLCD has the stated goals of protecting the natural environment, managing the state's natural resources, fostering healthy community development, conserving the coastal resources of the state, developing a clear and consistent land use system, and making sure that land use decisions are made in consultation with those affected by the rules. In 1973, Oregon passed the Land Use Act which mandated that all cities and counties had to develop comprehensive land use plans and regulations. The state set out a number of concerns and standards which these plans had to cover. Even though there is a state department (the DLCD) that governs land use in Oregon, all land use plans and decisions are made on the local level. The purpose of the department is to assist in the coordination of these plans and to ensure that the local plans meet state guidelines. This means that if an individual needs a variance, or needs to know what the rules are for their area, the local land use board should be contacted rather than the DLCD.

Department of Environmental Quality

In Oregon, the agency responsible for creating and enforcing environmental standards is the Department of Environmental Quality or the DEQ. The DEQ is headed by a five-member citizen panel which is appointed by the governor. The DEQ is an agency, much like the Real Estate Agency, that has the power to make rules that allow it to fulfill its administrative functions along with its mandate to enforce the rules and statutes of the state. The DEQ has divided the state into three environmental regions. These regions are: Northwest Region: Clatsop, Columbia, Tillamook, Washington, Yamhill, Multnomah, and Clackamas counties. Western Region: Lincoln, Polk, Marion, Benton, Linn, Lane, Douglas, Coos, Douglas, Curry, Josephine, and Jackson counties. Eastern Region: Hood River, Wasco, Sherman, Gilliam, Morrow, Umatilla, Union, Wallowa, Jefferson, Wheeler, Grant, Baker, Deschutes, Crook, Klamath, Lake, Harney, and Malheur counties. The DEQ investigates the environmental quality in each of these regions. With this knowledge, they shape the rules of the state and ensure that the activities within these regions are not posing a danger to the environment.

Limited Liability Companies

In a limited liability company (LLC), company members cannot be held personally liable for the company's debts or liabilities. An LLC is a hybrid entity that combines the characteristics of a corporation and a partnership or sole proprietorship.

ORS 305.765 Refund of taxes adjudged invalid

In a proceeding involving the validity of any law whereby taxes assessed or imposed have been collected and received by the state, acting through any department or agency thereof, and paid into the State Treasury, if the court of last resort holds the law or any part thereof invalid, and the time limit for any further proceeding to sustain the validity of the law, or the part thereof affected, has expired, and if there is no other statute authorizing refund thereof, all taxes collected and paid under the law or part thereof invalidated, in or after the year in which the action attacking the validity of the same was instituted, shall be refunded and repaid in the manner provided in ORS 305.770 to 305.785.

ORS 281.105 Federal law controlling

In any instance where a public entity is receiving federal financial assistance and is thereby required to comply with applicable federal laws and regulations relating to relocation assistance, such federal laws and regulations shall control should there be any conflict with ORS 281.045 to 281.060, 281.085 and this section.

ORS 215.279 Farm income standard for dwelling in conjunction with farm use

In any rule adopted by the Land Conservation and Development Commission that establishes a farm income standard to determine whether a dwelling is customarily provided in conjunction with farm use on a tract, the commission shall allow a farm operator to satisfy the income standard by earning the required amount or more of farm income on the tract: (1) In at least three of the last five years; (2) In each of the last two years; or (3) Based on the average farm income earned on the tract in the best three of the last five years. Note: 215.279 was added to and made a part of ORS chapter 215 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.

ORS 408.393 Incurring city indebtedness for Oregon Veterans' Home

In connection with the exercise of the powers granted by ORS 408.390, such incorporated cities may incur such indebtedness and issue such bonds, warrants or other evidences of debt as their respective charters may authorize. [Formerly 408.520]

What Losses Title Insurance Covers Against

In general, a title insurance policy provides insurance protection when there is a financial loss resulting from the discovery of problems with the title. The following is a general list of situations that title insurance policies offer protection against: The title to a property is vested in (securely in the possession of) a party who is not listed as an owner of the property in the policy. The title is subject to liens or encumbrances or has a defect. Defects can be a result of numerous circumstances including: forgery, incompetency, failure of a party to have authorized a transfer of title, a document that was executed under an expired power of attorney, a document that was not properly filed in public records, or a defective administrative proceeding. The title is unmarketable The property has no right of access

Limits on the Actions of Condominium Boards

In general, limits on the actions of condominium boards are imposed by the declaration under which the condominium is created. Developers creating a condominium have broad leeway in the powers with which they may invest their boards or associations. Because these powers and conditions are covenants upon the sale of the property, they must, of course, be disclosed to potential buyers who may then choose whether or not to bind themselves to these terms. However, there are some common law considerations that apply to any rules or actions of a board or association: First, these rules or actions may not be unlawful under any applicable federal, state, or local laws or ordinances. Individual states and municipalities may pass laws that specifically limit or affect the powers and actions of a board or association, and all of these must be complied with. Second, these actions or rules may be neither unduly burdensome nor unconscionable under any common understanding of these terms.

ORS 305.760 Paying over funds to State Treasurer and writing checks for refunds

In lieu of the procedure provided in certain revenue laws for the retaining of a working balance by the Department of Revenue from which refunds may be made, the Department of Revenue may, in accordance with the requirement of the Secretary of State, pay over all funds received under any of the revenue laws to the State Treasurer and write refund checks upon the State Treasurer for refunds authorized by law.

Parties to the Agreement

In order to have a contract the parties to the contract must be stipulated. In a real property deed, this needs to include the seller, the buyer, the agents representing the seller and buyer, and the escrow officer. All of these people need to be called out (i.e., identified and specified) in the contract to ensure that each of them fulfills their duty.

Sale of Manufactured Homes in Oregon

In order to sell a manufactured dwelling, or represent an individual buying or selling a manufactured dwelling, one must fulfill certain requirements. These requirements are similar to those used for selling other real or personal property as follows: If an individual owns a manufactured home and uses it for personal, family, or household purposes, they can choose to sell it without any license. In general, the state will only investigate individuals who sell two or more manufactured dwellings in a year (though it reserves the right to investigate any transaction they deem suspicious). If the manufactured dwelling is unattached (i.e., considered personal property), it needs to be sold by a licensed manufactured structure dealer. A licensed broker is permitted to represent the seller or buyer of a manufactured dwelling regardless of whether it is attached or not, as long as the principal broker they are registered under is also a manufactured structure dealer. If the manufactured dwelling is recorded in the deed records of the county as real property, a real estate licensee is permitted to represent the seller or buyer of a manufactured home (usually in conjunction with the land to which the building is attached). Remember, a manufactured home that is registered as real property will be recorded in the deed records of the county. This means that a real estate licensee can sell a manufactured dwelling that is a home that is attached to property or one that is located in a mobile home park, provided it has been registered as real property.

Description of the Property

In order to transfer property,the deed must lay out what property is being transferred. This must be a legal description at the minimum but should also include the physical address. A deed that is missing this information or has incorrect information will be invalid.

Severance

In real property law, severance is used in several different contexts. First, it applies to joint tenancy, a form of shared ownership. Joint tenancies require the tenants to share in the four unities of time, title, interest, and possession. When any one of these unities no longer applies to any one of the tenants, the joint tenancy is said to be severed, and the tenancy terminated. Second, severance describes the cutting and removal of anything attached to the land, such as timber or crops. Third, severance is used when the government exercises eminent domain. When only a portion of a parcel of land is being taken, the governing authority may award severance damages in addition to payment for land actually being taken.

Platted Descriptions

In the United States, a "plat" is a map, drawn to scale, showing the divisions of a piece of land. In other English-speaking countries, this type of map is called a "cadastral map" or "cadastral plan." Whether identified using metes and bounds or a rectangular survey, whenever a piece of surveyed land is subdivided, the resulting lots are no longer described using either survey method. Instead, they are described by reference to a specific lot number, subdivision name or lot, block, and caption of the plat on which they are shown. "Platted" is a general term for properties involving an approved survey map and plans that describe each lot or unit and that are recorded with the county. Once platted, these lots when sold are legally described by their assigned numbers.

What happens when a married couple gets a divorce with a Tenancy by Entirety?

In the event of divorce, the parting spouses become tenants in common. This change is automatic, as tenancy by the entirety can exist only when the co-owners are husband and wife. If the ex-spouses do not wish to continue co-ownership, either one can sell their individual interest. If a buyer cannot be found for a partial interest, nor an amicable agreement can be reached for selling the interests of both ex-spouses simultaneously, either may seek a court action to partition the property.

Manufactured Dwellings in Oregon

In the past, Oregon (and many other states) had manufactured homes regulated and registered by the Department of Motor Vehicles (DMV). The idea was that, because they are large mobile structures, they should be treated similarly to the other large mobile structures, i.e. cars, vans, recreational vehicles, and trucks. This meant that an owner would have to get license plates for the home and would have the laws that govern manufactured home sales written with cars and trucks in mind (e.g., signing over a registration to the new owner). These Oregon Statutes were changed in 2005. Since 2005, the control of manufactured homes has been given to the Building Codes Division (BCD), not the DMV. This means that manufactured homes are now controlled by the same entity that controls traditional buildings. In addition, one can classify a mobile home as real property. This process is known as "exempting" the building. This term is used because, by default, a manufactured dwelling is considered personal property and only by acquiring an exemption can this classification be changed.

ORS 215.277 Farmworker housing; compliance with agricultural land use policy required

It is the intent of the Legislative Assembly that the provision of farmworker housing, as defined in ORS 215.278, not allow other types of dwellings not otherwise permitted in exclusive farm use zones and that farmworker housing be consistent with the intent and purposes set forth in ORS 215.243.

ORS 92.475 False or misleading advertising prohibited; liability

It shall be unlawful for any owner, subdivider, developer, series partitioner, agent or employee of such persons or other person, who with intent, directly or indirectly, to sell or lease subdivided or series partitioned lands or lots, parcels or interests therein, to authorize, use, direct or aid in the publication, distribution or circularization of any advertisement, radio broadcast or telecast concerning subdivided or series partitioned lands, which contains any statement, pictorial representation or sketch which is false or misleading. Nothing in this section shall be construed to hold the publisher or employee of any newspaper, any job printer, broadcaster or telecaster liable for any publication referred to in ORS 92.305 to 92.495 unless the publisher, employee, printer, broadcaster or telecaster has actual knowledge of the falsity thereof or has an interest in the subdivided or series partitioned lands advertised or the sale thereof.

Joint Tenancy

Joint tenancy is an umbrella term for any form of mutual property ownership that allows, upon the death of one of the co-owners, for one or more of the co-owners to take possession of the deceased co-owners ownership interest. Technically speaking, tenancy by entirety and any form of multiple person tenancy that includes survivorship is considered a joint tenancy. However, under current state law, multiple person tenancies of real estate are no longer considered to be joint tenancies. In fact, if the legal instrument used to transfer a piece of property includes the words "joint tenancy" or "joint tenants" without specifically establishing survivorship, the legal instrument will create a tenancy in common. There is one exception to this. If the individuals involved in the tenancy are all trustees or personal representatives of other parties, the property will be held by a joint tenancy unless the legal instrument creating the tenancy specifies that the property will be held under another form of tenancy.

Judgment Liens

Judgment liens are established as a result of a lawsuit judgment. The court-ordered lien is placed to guarantee the payment of the damages to an injured party. If the lien is placed on a piece of real estate, the plaintiff who obtained a monetary judgment could seek foreclosure on the property to make up any unpaid damages. Judgment liens can also be imposed to secure payment of debts on things like credit cards and utility bills.

Prior to the introduction of the condominium concept, property ownership had been limited to ownership of the following: Dwellings Rights of usage and disposition Homesteads, easements, and encumbrances Land

Land

Indestructibility

Land is indestructible; it is durable. Today, you can travel to the Middle East and walk on the same land that was walked on in Biblical days. You can travel the United States and use the same land that the Native Americans used a thousand years ago. Many people buy land because it is durable. They feel that stocks, bonds, and paper money may come and go, but land will always endure. This is true in a physical sense, of course, but land's ability to appreciate in value has to do with economic durability, not durability in the sense of it being physically indestructible.

Types of Liens and Priority

Liens can be separated into three general categories: consensual liens, statutory liens, and judgment liens. Since multiple liens can be placed on the same property, there can be question of the order in which lien holders get paid. Laws generally establish the priority of liens based on the type of lien in question. The importance of lien priority stems from the fact that foreclosure can sometimes cancel liens that are lower in priority.

Recording Land Sale Contracts

Like a standard deed, the original, signed land sale contract should be recorded with the recorder of the relevant county. This protects the buyer by creating a record of that buyer's interest in that property. This prevents the seller from selling the property off to another buyer or using the property as collateral for a loan. Recording can also place the buyer's rights in a position of priority over any liens that are placed on the title after the land sale contract is established.

Loam-The Ideal Soil Type

Loamy soil contains a balance of silty, sandy, and clay soils-plus humus (organic material). Because of its organic matter content, loam has a higher pH and calcium level. Loam is dark and mealy: soft, dry, and crumbly. It holds onto water and plant food tightly, but drains well, and air moves freely between soil particles down to the roots.

Municipal Taxes

Local municipalities (counties, cities, school districts) levy and collect property taxes under the supervision of the state. In some states, municipal governments also collect their own transfer taxes.

Management of Hazardous Waste and Other Environmental Hazards

Management of hazardous waste and other environmental hazards is the responsibility of any and all individuals or organizations that produce or occupy properties that produce hazardous wastes (including environmental, or naturally occurring, hazardous wastes), or other environmental hazards, or who occupy properties upon which hazardous wastes are stored, buried, or otherwise contained. A minimal understanding of hazardous waste management practices is therefore necessary for the real estate professional in order to be able to best advise any clients affected by these provisions. Real estate professionals are not expected to provide legal advice, but must be able to recognize situations where the client — either the buyer or seller — may need to seek outside counsel or guidance.

Manufactured Dwellings

Manufactured dwellings (manufactured homes, mobile homes, etc.) are an interesting and unique aspect of real estate. Real property generally refers to land and all things firmly attached to the land (such as buildings). Personal property, on the other hand, is property that is not attached to land and is therefore mobile. Under this definition, a manufactured dwelling would be personal property. The problem is that the manner in which manufactured homes are used, and the costs associated with them, means that they behave far more like real property. After all, a manufactured home may have a floor plan, square footage, and numerous features that are equivalent to or greater than some single-family houses. A resident of such a structure wouldn't consider it fundamentally different from a single-family house. It seems odd that having a dwelling built in a factory then transported to the site makes it a different kind of property, and subject to different laws, than a house of similar dimensions that was built on site.

Recycling

Many hazardous wastes can be recycled into new products. Examples might include lead-acid batteries or electronic circuit boards. When incinerated, the ashes from these products contain heavy metals. When these ashes go through the proper treatment, they can be used to bind to other pollutants and convert them into easier-to-dispose solids, or they could be used as pavement filling.

Threatened and Endangered Species Considerations

Many species found in Oregon's coastal zone have been identified as threatened or endangered, both at the state and federal levels. The loss or modification of these species' habitats are of national concern. Assessment and planning strategies around these habitats should consider the following: Examine potential threatened and endangered species issues in each of the enhancement areas, including implications for identifying priority enhancement areas. Identify opportunities for changes that will foster habitat conservation and restoration. Consider potential negative effects on threatened and endangered species when developing proposed development, land sales, or other real estate transactions and determine ways to eliminate or lessen these potential effects.

Which of the following is NOT a type of depreciation? Market value obsolescence Functional obsolescence Physical deterioration Economic obsolescence

Market value obsolescence

Tenancy by Entirety

Married persons are entitled to a specific form of joint tenancy called tenancy by entirety. The basis for this is the legal premise that a married couple is an indivisible legal unit. Tenancy by entirety means that if one spouse dies, their interest automatically goes to the surviving spouse.

Measure 37

Measure 37 was approved by voters in 2004 and was designed to allow landowners to utilize the full value of their property. The law was built around a concept of "legislative taking" which is the idea that if the government regulates land and that regulation reduces the value of that land, the government has "seized" a part of the land. This concept is based on the idea that the true worth of land lies in its economic value; therefore, eliminating some of that economic value is "taking private property for public use" for which the landowner must be compensated as per the Fifth Amendment to the U.S. Constitution. This is a significant change in the principle and application of "legislative taking." Measure 37 has two main provisions. The first provision is that if a land use restriction reduces the value of a property, then the owner may petition the DLCD and the state must pay the owner the total value of the reduction. The second provision allows the state to grant the property owner an exemption to the offending regulation if it chose, rather than pay the owner. The public entity has 180 days to either reject the claim, pay the owner, or grant a waiver. The law is intended to allow a property owner to file a claim against the state for any land use regulation enacted after the owner acquired the property. Additionally, if a family member of the owner had originally acquired the property and then transferred it to the owner, the current owner could file against any land use regulation put in place from the time that the family member owned the property. The earliest land use planning started in 1899 but it wasn't until 1973 that comprehensive land use planning was introduced. Additionally, many regulations were developed since that time to address problems that were not widely recognized in the 1970's. Under Measure 37, an individual who inherited land from a family member gained an avenue for claiming an exemption from all land use laws enacted in recent decades.

Megan's Law

Megan's Law was enacted in 1996 after seven-year-old Megan Kanka was raped and murdered by a sexual predator. Megan's Law requires the registration of sex offenders, and public notification of private and personal information regarding registered sex offenders. In Oregon, the law is found at ORS 181.582 - 181.609. ORS 696.880 states, however, that an Oregon real estate licensee has no obligation to disclose to a potential purchaser of residential property that a sex offender registered under Megan's Law resides in the area.

Mineral Rights

Mineral rights are a landowner's rights to profit from any minerals extracted from the land. Mineral rights apply to many resources, such as oil, gas, ores, metals, and other raw materials. Depending on the landowner's needs, mineral rights can be sold, developed, or leased. Oregon is rich in mineral resources. Throughout the state's history, a wide variety of minerals have been extracted from many locations. Because of its mineral endowment and varied geology, mining companies still look at Oregon as a place to explore for and develop mineral deposits. Similarly, many people come to the state each year to prospect for gold and search for mineral specimens.

Modification

Modifications, also called improvements, are man-made developments made to real property. Modifications greatly influence land use and value. They can be anything from apartments to airports, schools to sewers, farms to factories.

ORS 408.365 Use of state moneys for operation of Oregon Veterans' Home

Moneys to pay for the expenses of operating the Oregon Veterans' Home may be appropriated from: (1) The General Fund; (2) The Oregon War Veterans' Fund pursuant to section 1 (1)(e) of Article XI-A of the Oregon Constitution; and (3) Moneys donated to the trust fund established under ORS 406.050 for the purpose of paying for the expenses of operating the Oregon Veterans' Home, or moneys in the trust fund that the Department of Veterans' Affairs determines may be expended for those purposes.

Collecting Assessments

Monthly homeowner assessments (condo fees) must be collected by condominium boards. While most condominium bylaws permit boards to place liens on individual units for unpaid condo fees, liens do not equal money. Unit owners may not refinance or sell their homes for many years, leaving the condominium association short of funds to meet budget and reserve demands. Boards have a duty to establish an effective collection policy, much like a bank, to ensure consistent monthly cash flow into the association account to meet operating expenses.

Negative Easement

Negative easements, on the other hand, allow the holder of the easement to prevent affected property owners from doing something with the property. A common example of a negative easement is one in which the easement prevents the servient property's owner from constructing a structure that would block the easement holder's view.

Negligence

Negligence in an environmental context is no different than negligence in any other context. Negligence requires some proof of "fault," i.e., that under the circumstances: the defendant did something that a reasonable person would not do, or has failed to do something that a reasonable person would do. Proof of fault puts at issue the "standard of care" and gives the polluter an opportunity to claim that it is doing everything according to accepted standards and is thus not negligent, even though polluting. One of few occasions where negligence might be alleged would be where there has been a one-time offense that was not a trespass and no better basis for a cause of action exists. This may be rare, as the "negligent nuisance" theory may even be applied to a single-event nuisance.

IRC Section 1031 states: "__________ shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment." No gain or loss All gains and losses All losses All gains

No gain or loss

ORS 92.012 Compliance with ORS 92.010 to 92.192 required

No land may be subdivided or partitioned except in accordance with ORS 92.010 to 92.192.

Possibility of Third-Party Liabilities

No one wants to be responsible for the actions of another, and certainly no potential buyer will want to acquire possible liabilities along with their property acquisition.

ORS 305.815 False return, statement or document prohibited

No person shall willfully make and subscribe any return, statement or other document that contains or is verified by a declaration under ORS 305.810 that it is made under penalties for false swearing if the person does not believe the return, statement or other document is true and correct as to every material matter. [Formerly 306.420]

ORS 312.250 Certain rights of municipal corporations not affected by ORS 312.010 to 312.120 and 312.130 to 312.240

No provision of ORS 312.010 to 312.120 and 312.130 to 312.240 shall impair or annul a right conferred upon municipal corporations by ORS 311.520 or 312.270 to 312.300.

ORS 92.285 Retroactive ordinances prohibited

No retroactive ordinances shall be adopted under ORS 92.010 to 92.048, 92.060 to 92.095, 92.120, 93.640, 93.710 and 215.110.

Property Tax Exemptions

Not all property is subject to taxation. Property owned by federal, state, and local governments are not taxed. It is also common for properties owned by religious and charitable organizations to be exempted from taxation.

Livable Area

Not everything included in the total area of a building is a space that is habitable for the residents of the building. For example, the total area of a house may include an attached garage. However, it is unlikely that the residents of the house will use the garage as a living space. For this reason, a portion of the square footage of a building can be defined as livable area. This is the area within a building that is designed for habitation. The livable areas of a building usually have heating, air conditioning, electricity, plumbing, and furnishings, with heating and/or air conditioning usually being the most important factors. If a part of a house is not heated, it probably should not be included as part of the livable area. To find livable area, first find the total square footage area of the building. Then, subtract the square footage area of any part of the building that lack heating and other elements that make a space habitable such as garages porches. It is important to note that this measure does not account for interior walls, dead space between walls, or closets and small storage areas.

ORS 305.780 Taxes due prior to year in which suit brought

Nothing contained in ORS 305.770 to 305.785 authorizes the refunding of any tax collected and paid under an invalidated tax law, or invalidated part thereof, where the tax as provided in such law became due and payable in any year prior to the year in which the suit or action seeking the invalidation of the law or part thereof was instituted.

ORS 696.880 Licensee not required to disclose proximity of registered sex offender

Nothing in ORS 181.800 to 181.845, 696.301, 696.805, 696.810, 696.815 or 696.855 creates an obligation on the part of a person licensed under this chapter to disclose to a potential purchaser of residential property that a sex offender registered under ORS 181.806, 181.807, 181.808 or 181.809 resides in the area.

ORS 281.090 Construction

Nothing in ORS 281.060 to 281.090 shall be construed as creating in any condemnation proceedings brought under the power of eminent domain, any element of value or of damage not in existence immediately prior to May 7, 1971.

ORS 468.270 Tax status of leasehold interest in facilities

Nothing in ORS 468.263 to 468.272 is intended to exempt from taxation or assessment the leasehold interest of any lessee in any facility nor are ORS 468.263 to 468.272 intended to affect any exemption or credit from taxation which might otherwise be available to any lessee under the laws of the State of Oregon. Such leasehold interest is classified for purposes of taxation as having the same value as the fee interest in that property.

ORS 92.080 Preparation of plat

Notwithstanding ORS 205.232 and 205.234, all plats subdividing or partitioning land in a county in this state, dedications of streets or roads or public parks and squares and other writings made a part of the subdivision or partition plats offered for record in a county in this state must be made on material that is 18 inches by 24 inches in size with an additional three-inch binding edge on the left side when required by the county clerk or the county surveyor, that is suitable for binding and copying purposes, and that has the characteristics of strength and permanency required by the county clerk and county surveyor. All signatures on the original subdivision or partition plat must be in archival quality black ink. The subdivision or partition plat must be of a scale required by the county surveyor. The lettering of the approvals, the declaration, the surveyor's certificate and all other information must be of a size or type to be clearly legible, but the information may not come nearer an edge of the sheet than one inch. The subdivision or partition plat may be placed on as many sheets as necessary, but a face sheet and an index page must be included for subdivision or partition plats placed upon three or more sheets.

ORS 92.179 Liability for costs of relocating utility facilities

Notwithstanding any other provision of law, a person who subdivides or partitions real property shall be liable for the reasonable and necessary costs of continuing utility service to structures on the property being subdivided or partitioned if the subdividing or partitioning causes utility lines to be moved or service to be interrupted, unless the person subdividing or partitioning the real property grants an easement to the utility service provider to accommodate continuing utility service to the structures.

ORS 312.214 Public policy relating to title obtained by county by tax foreclosure

Notwithstanding any other provisions of law, for all purposes of ORS 312.214 to 312.230 it is declared to be the public policy of this state that: (1) When a county has acquired or hereafter acquires real property by foreclosure for delinquent taxes, the county's title to the property shall have the utmost stability; and (2) Once real property has become or hereafter shall become subject to foreclosure for taxes, there has been imposed and there hereafter shall be imposed upon all persons owning or claiming to own, or having or claiming to have, any interest in the real property, by reason of their delinquency, a continuing duty to investigate and ascertain whether the real property did become or hereafter shall become included in tax foreclosure proceedings, regardless of any defects, jurisdictional or otherwise, that may have appeared or shall hereafter appear in the foreclosure proceedings.

Statute of Limitations

Nuisance claims also present an interesting issue when it comes to statutes of limitations. While many defendants in environmental nuisance suits have attempted to use the "running" of the statute of limitations as a defense (i.e., the statute of limitations has expired), courts have held that there is no statute of limitations in cases of environmental nuisance. By definition, a nuisance is an ongoing and continuing issue. The courts have held that the time of inception of the nuisance or the time of discovery of the nuisance is irrelevant. As one court phrased it, "...in the normal pollution case, since the tort is committed every day, the cause of action will accrue up to the time of trial." (Oakwood Homeowners' Ass'n, Inc v Ford Motor Co, 77 Mich App 197; 258 NW2d 475, 1975)

No disclosure statement is required for condominiums described in: ORS 100.305 Conversion condominium 100.005 Definitions ORS 100.660 Nonresidential condominium or security filing ORS 100.155 Variable property

ORS 100.660 Nonresidential condominium or security filing

ORS 105.490 Effect of ORS 105.462 to 105.490, 696.301 and 696.870 on rights and remedies

ORS 105.462 to 105.490, 696.301 and 696.870 do not directly, indirectly or by implication limit or alter any preexisting common law or statutory right or remedy including actions for fraud, negligence or equitable relief.

ORS 105.463 Preemptive effect of ORS 105.464

ORS 105.464 preempts any law, rule, regulation, code or ordinance of the political subdivisions of this state including, but not limited to, the Lane Regional Air Protection Agency regarding the disclosure of solid fuel burning devices, as defined in ORS 468A.485, in connection with a written offer to purchase real property in this state for which a seller's property disclosure statement is required under ORS 105.465 and 105.470.

ORS 281.260 Compensation prior to condemning and taking possession

ORS 281.210 to 281.250 do not require the state to make or tender compensation prior to condemning and taking possession of the lands or property.

ORS 87.001 Short Title

ORS 87.001 to 87.060 and 87.075 to 87.093 shall be known and may be cited as the Construction Lien Law.

Matters Deemed "Not Material" to Real Property Transactions

ORS 93.275 states that the following incidents are not material facts to real property transactions.

Summary of the Condo Board Responsibilities

Obtain a copy of the recorded Declaration, Bylaws, and Amendments — all of the governing documents Understand and enforce compliance with the governing documents Establish, amend, communicate, and enforce the condo rules Communicate with the owners, whether good or bad news Solicit owners' input on important matters Work closely with the association's professionals — manager, accountant, lawyer, etc. Manage community finances, create the annual budget, and collect fees Ensure that reserves are adequate for the future replacement of major components of the property Ensure that there is an annual audit by an outside CPA Open and maintain bank accounts with designated signers Disclose personal and financial conflicts of interest Monitor all contractor activities and pay for authorized services Designate, hire, and fire personnel Keep correct and current records Conduct meetings required by the governing documents Confirm that the association's master insurance policy is appropriate for the property and the condo board Develop and oversee risk management procedures Establish and support committees' activities Monitor social and security programs Create procedures to maintain the appearance and conformity of the condo property Preserve and promote community harmony

Condominiums

On the surface, condominiums and apartments operate similarly. The main difference is that an apartment is rented, whereas a condominium is owned. But before we look at further differences and definitions of a condominium, we'll first look at another concept common in real estate: "housing tenure."

ORS 306.152 Training session for pools for members of board of property tax appeals

Once each year the Department of Revenue shall conduct a training session of not more than four days' duration dedicated to the schooling of persons whose names appear in the pools described in ORS 309.067 in the functions of the board of property tax appeals.

ORS 62.511: Incorporators; Articles of Incorporation

One or more individuals 18 years of age or older, a domestic or foreign corporation or cooperative, a partnership or an association may act as incorporators of a cooperative by delivering articles of incorporation to the Office of Secretary of State for filing.

ORS 91.040 Tenancy at sufferance

One who comes into possession of the real estate of another lawfully, but who holds over by wrong after the termination of the term, is considered as a tenant at sufferance. No notice is required to terminate a tenancy at sufferance.

ORS 91.060 Tenancy from year to year

One who enters into the possession of real estate with the consent of the owner, and no certain time is mentioned, but an annual rent is reserved, is considered a tenant from year to year. A notice to terminate a tenancy from year to year is sufficient if it is given 60 days prior to the expiration of the period for which, by the terms of the lease and holding, rents are to be paid.

ORS 91.050 Tenancy at will

One who enters into the possession of real estate with the consent of the owners, under circumstances not showing an intention to create a freehold interest, is considered a tenant at will. When the rent reserved in the lease at will is payable at periods of less than three months, a notice to terminate the tenancy is sufficient if it is equal to the interval between the times of payment of rent. The notice to terminate a tenancy at will is sufficient if given for the prescribed period prior to the expiration of the period for which, by the terms of the lease and holding, rents are to be paid.

ORS 91.070 Tenancy from month to month

One who holds the lands or tenements of another, under the demise of the other, and no certain time has been mentioned, but a monthly rental has been reserved, is considered a tenant from month to month. Except as otherwise provided by statute or agreement, such tenancy may only be terminated by either the landlord or tenant giving the other, at any time during the tenancy, not less than 30 days' notice in writing prior to the date designated in the notice for the termination of the tenancy. The tenancy shall terminate on the date designated and without regard to the expiration of the period for which, by the terms of the tenancy and holding, rents are to be paid. As of 2016, landlords may not increase the rent of a month-to-month tenant in the first year of tenancy, and must give 90 days' notice before such an increase occurs.

Real Market Value (RMV)

Oregon law states that the assessor must value all property at 100% of its real market value. Real market value (RMV) is typically the price your property would sell for in a transaction between a willing buyer and a willing seller on January 1, the assessment date for the tax year. To estimate the initial RMV for your property, your county assessor appraises your property using a physical inspection and a comparison of market data from similar properties. For ensuing tax years, your county assessor may study trends of similar properties to update the RMV for your property. Some property, such as farm or forest property, may be subject to special valuation processes.

Real market value (RMV)

Oregon law states that the assessor must value all property at 100% of its real market value. Real market value (RMV) is typically the price your property would sell for in a transaction between a willing buyer and a willing seller on January 1, the assessment date for the tax year. To estimate the initial RMV for your property, your county assessor appraises your property using a physical inspection and a comparison of market data from similar properties. For ensuing tax years, your county assessor may study trends of similar properties to update the RMV for your property. Some property, such as farm or forest property, may be subject to special valuation processes.

Oregon Subdivision and Series Partition Control Law

Oregon passed the Subdivision Control Law in 1963. Prior to the law's passage, unscrupulous subdivision developers would advertise acres of remote and undeveloped parcels to the public, often through the mail. Material facts about the property—such as freezing temperatures, lack of water, and distance from the nearest town—were omitted from the deceptive mail-order literature. Frequently, buyers in search of cheap investment property would buy the land without seeing it. The Subdivision Control Law gave the Real Estate Commissioner the authority to regulate the sale, lease, and advertising of subdivided lands marketed to Oregon citizens, whether the properties were situated in or outside the state.

State Agencies

Oregon's Coastal Management Program is the combined effort of 32 cities, seven counties, and a host of state agencies to carry out the statewide land-use program on the Oregon coast. Coastal cities incorporate planning, zoning, and other regulations as they strategize growth, approve development, and provide essential public services to residents and businesses inside urban areas. State agencies, such as the Oregon Parks and Recreation Department, Department of Geology and Mineral Industries, and Department of State Lands are crucial coastal program partners. They assist local governments, enforce regulations, and carry out programs and state laws protecting coastal resources. Federal agencies likewise contribute to managing coastal resource lands, such as the Office of Ocean and Coastal Resources Management, U.S. Forest Service, Bureau of Land Management, and U.S. Fish and Wildlife Service. Even the U.S. Army Corps of Engineers maintains vital navigation facilities, while four coastal tribes manage coastal resource lands and are critical partners in protecting the natural, cultural, and historic heritage of native people on the Oregon coast.

Effects of Contamination on Market Sales Prices

Other than in situations where the property itself is contaminated, stigma from nearby contamination produces the greatest effects on price. Several studies found that this stigma diminished in direct relation to the distance of the property from the source of contamination. In short, property values increase the further away the subject properties are from the contaminated site. Additionally, the residents' beliefs about the risk of living near a source of contamination (stigma) also had a significant impact on pricing. Independent of the distance variable, researchers found an inverse relationship between the number of people with beliefs of high risk and property values. In essence, they found that the higher the percentage of individuals living in a neighborhood who believed they were at risk, the lower property values would drop. This factor has been attributed to the "word of mouth" effect, with existing residents talking with potential buyers. There is, however, no evidence or research that would indicate the actual cause of this effect.

Preventing Unacceptable Human Risk

Owners and operators must exercise due care by undertaking response activities that are necessary to prevent unacceptable exposures to contamination. The existing contamination must be evaluated to determine if the people using or working at the property would be exposed to contamination at levels above the appropriate criteria. For example, if groundwater used for drinking is contaminated above the drinking water criteria, then the owner and operator must provide an alternative water supply. If soils are contaminated above the direct contact criteria for the appropriate land use at the surface of the property, then people must be prevented from coming into contact with those soils by restricting access, installing a protective barrier, or removing contaminated soil. Protective barriers can be clean soil, concrete, paving, etc. In some instances, remediation of the contamination may be the most cost-effective due care measure. In addition, if there is a potentially unacceptable risk for utility workers or people conducting activities in an easement, then utility and easement holders must be notified in writing of the conditions by the owner or operator. If there is a fire and explosion hazard, the local fire department must be notified and the situation must be mitigated.

Due Care Documentation

Owners and operators must maintain documentation that due care needs have been evaluated and any response actions that are needed have been taken. If applicable, maintenance and repair response actions must also be documented.

Qualifications for a 1031 Exchange

Owners of investment and business property may set up an exchange of investment or business property under Section 1031. Any tax-paying entity may set up an exchange; this includes individuals, corporations, partnerships, limited liability companies, and trusts.

Riparian Rights

Owning land that borders on a river or stream carries with it the right to use and enjoy the water in common with other landowners whose lands border the same watercourse. This is known as a riparian right. The landowner does not have absolute ownership of the water, but may use it in a reasonable manner.

Peaty

Peaty soil is dark brown or black, soft, easily compressed due to its high water content, and rich in organic matter. Though saturated with water, peaty soil turns into growing soil once it's drained. Peaty soil is spongy to the touch; you can force water out when you squeeze it.

Physical Deterioration

Physical deterioration results from wear and tear through use, such as wall-to-wall carpet that has worn thin, or a water heater that must be replaced. Physical deterioration also results from sun, rain, heat, cold, and wind damage. It can also result from neglect (such as an overflowing bathtub) and from vandalism.

Destruction Necessary to Protect the Public Interest

Police power also exercises the right to damage or destroy private property (without compensation to the owner) when such an act is necessary to protect the public interest. This may happen, for example, when a condominium unit is on fire and the fire department destroys an adjoining unit to extinguish the fire and save the rest of the building. In this case, the government would not be required to compensate an owner for such destruction. Instead, a valid claim may be filed against the insurance policy covering the burning unit or against the owner's own policy. Although police power permits the state to regulate the use of an individual's property in order to protect public health, safety, and welfare, such regulation has its limits. If it goes too far, it is recognized as a "taking," which requires that the state pay just compensation to the affected individual or reverse their course on the regulation.

Which of the following facilities abate, control or prevent, alter, dispose of or store solid waste, thermal, noise, atmospheric or water pollutants, contaminants, or products therefrom? Pollution control facilities Health services facilities Home management facilities Environmental corrections facilities

Pollution control facilities

Possession VS Ownership

Possession is one right in the bundle which can be separated or granted to someone else. Ownership means that someone holds the bundle, not just one right contained in the bundle. Possession of a property means that someone exercises control over a property. Ownership means that someone exercises some control over the rights associated with a property.

Stability of Laws Governing Cleanup

Potential buyers and investors or lenders will also be strongly influenced by perceptions of stability in the laws and regulations governing cleanup of a contaminated site. If the requirements and guidance are known and clearly delineated, estimates of the costs of cleanup become much more accurate and easier to estimate. If there is a possibility of changes in the governing law, however, this will again create uncertainty.

Hammer Price

Price established by the last bidder and acknowledged by the auctioneer before dropping the hammer or gavel.

Which one of these liens will typically have seniority? Primary mortgage Mechanic's lien Federal tax lien Second mortgage

Primary mortgage

The Condominium Concept as Applied in the U.S.

Prior to adoption of the condominium concept in the United States, numerous cooperative ventures were established in all areas of the country. Many factors, primarily economic in nature, conspired to turn most of these ventures in the early 20th century into failures. As we will discuss, the cooperative model, taking note of the lessons to be learned from earlier failures, has been successfully adopted into modern practices. In 1958, the Commonwealth of Puerto Rico adopted the Horizontal Property Act, which provided for a statutory method of subdividing the "space" contained within a building into horizontal strata, or layers, with each layer representing a floor, which were then vertically subdivided into one or more units. This became the first actual condominium law passed in the U.S., which was quickly followed by the Utah Condominium Act of 1960. By 1969, every state in the U.S. had some form of condominium law. It should be noted that, just as with all other real property law, each state has its own rules and regulations regarding condominiums. Despite the application of several federal laws to condominium practice, there are no "federal condominium laws."

Probate

Probate is a legal process by which a person's will is proven to be valid and an estate is distributed to descendant

Property Taxes

Property taxes are one of the largest sources of revenue to fund local government programs, including police departments, street maintenance, and public libraries. Property taxes are considered an "ad valorem" tax. This means that property taxes are levied according to the value of a property. Meaning, the higher the property value the more taxes that are owed. The process of determining property tax rates usually begins with the municipal government creating and passing its budget. Next, all of the taxable property in the municipal government's jurisdiction is valued. The assessor's office appraises every taxable parcel of land along with any improvements on those parcels. In most states, the appraised value is an estimation of the fair market cash value which is the cash price the house should go for in an open market transaction. The appraised value of each property is then converted into an assessed value. The assessed value is almost always a percentage of the appraised value.

Transferring Property Under Measure 49

Property which has been granted a Measure 49 exemption may be transferred with this exemption. The exemption will last for 10 years after the property has been transferred. If the property owner utilizes the exemption, such as by building a house, then the building will be allowed to remain indefinitely. However, because the exemption doesn't transfer, if a person gets an exemption for an additional house, sells the property and then in 25 years the house burns down, the new owner may not be able to replace the house.

Public Nuisance

Public nuisance, in general, most commonly refers to issues such as public drunkenness, noise complaints, etc. It may also, however, apply to anything that despoils the environment if it impacts the community as a whole. For example, a manufacturing plant whose exhaust pipes release toxic fumes into the air, making it difficult or unsafe for children to play outside, could be considered a public nuisance. A key point in the common law of public nuisance is that a public nuisance may not arise from a natural condition. Human involvement is required and an act from a human being must have contributed to the existence of the nuisance. Public nuisances may also give rise to claims of private nuisance. In these cases, the person making the claim of private nuisance must also suffer some specific and additional injury beyond that suffered by the general public. If this is the case, the affected individual may then bring an additional suit for their personal grievance. Using our earlier example of the factory fumes, if those fumes also carried toxic material that was deposited on a farm's fields, killing the plants, then the farm owner would have two causes to pursue: the public nuisance which the farmer would pursue with the rest of the community, and the private nuisance from destruction of the farmer's crops.

Tax Sale

Public sale of property at auction by governmental authority, due to nonpayment of property taxes.

Quiet Title

Quiet title is a lawsuit filed to establish ownership of real property when the ownership is in question. Real property owners want to ensure that they have a clear title because a clear title is required to close a real property transaction. Having a clear title means there are no liens, levies, or other clouds on the title, and that there is no dispute over the property's ownership. These clouds can be resolved by an action to quiet title. It should be noted, however, that quiet title suits can be costly. A far more widely-used and cost-effective solution is to rely on a title company to do a title search to confirm a property's legal owner and check for claims against the property. Because title searches are not infallible, this should be supplemented with title insurance in order to protect the new owner's interest in a property against legal defects.

When an examination is to be made of subdivided lands situated in the State of Oregon, the __________ may require the subdivider to advance payment for travel expenses. non-resident subdividers Real Estate Commissioner title company county clerk

Real Estate Commissioner

Title

Real estate agents handle the transfer of titles and property on a regular basis. This is why it is critical to understand what titles and deeds are and their significance to the real estate business. Title is the right to or ownership of something. Title can be related to any piece of property, from warehouses to automobiles, but our discussion will focus on titles for property. A property title is the primary mechanism of securing the right to own and control a piece of property. This often takes the form of a legal document — such as a deed or bill of sale — that details the rights and privileges of the title holder.

Real Property Depreciation

Real estate is another asset that can depreciate or lose value. During the housing crisis of 2008, homeowners in the hardest-hit areas, such as Las Vegas, saw the value of their homes depreciate by as much as 50%. Certain property cannot be depreciated. This includes land and certain excepted property. The cost of land cannot be depreciated because land generally does not wear out, become obsolete, or get used up. But if it does, the loss is accounted for upon disposition. The costs of clearing, grading, planting, and landscaping are usually all part of the cost of land and cannot be depreciated. Although the land itself cannot depreciate, certain land preparation costs, such as landscaping costs incurred in preparing land for business use, can be. These costs must be so closely associated with other depreciable property that a "life" for them along with the life of the associated property can be determined.

Deed Priority

Real estate title is subject to many claims of ownership (encumbrances). When a mortgage lender issues a mortgage loan, for example, the lender requires a mortgage lien on the property. Every lien or claim to the property is ranked according to its priority rights. The purchaser at a foreclosure sale receives a sheriff's deed or a trustee's deed granting ownership, but not necessarily granting senior priority in the property. The foreclosure deed still may be subject to liens that were superior to the mortgage lien being foreclosed on. For example, if a second mortgage lender holds a foreclosure sale, the person who purchases the property at that sale purchases the property subject to the first mortgage lien, which was and remains superior to the second mortgage lien.

Recordation

Recordation is the action or process of recording.

qORS 92.455 Inspection of records

Records of the sale or lease of real property within a subdivision or series partition shall be subject to inspection by the Real Estate Commissioner.

Rentable Area

Rentable area is a combination of the usable area occupied by a tenant and a portion of the communal areas available to all tenants in a building. For example, a tenant who occupies and is given exclusive control over the top floor of a house could consider all of that floor as usable area. Now, let's say that this is a three story house where the top two floors are rented out and the bottom floor is considered a shared space for all the people renting space in the house.

The following is the primary federal law governing hazardous wastes: Hazardous Waste, Fraud and Abuse Management Act (HAWFAMA) Advanced Chemical Transport Act (ACT Act) Resource Conservation and Recovery Act Solid Waste Disposal Act

Resource Conservation and Recovery Act

Right of Foreclosure

Right of foreclosure is a lender's ability to take possession of the property used to secure the loan it provided-if the borrower stops making payments. Homeowners associations also have a right of foreclosure, which they can exercise if a homeowner fails to pay homeowners association fees or special assessments. To foreclose simply means to cut off. What the lender is saying, basically, is that the borrower isn't keeping up their end of the agreement, so the lender wants the borrower out so that the property can be put into the hands of someone who will keep up their end of the agreement. After foreclosure, the person will no longer own the property and will be required to remove all their belongings and move. The lender becomes the new legal owner of the property, and will sell the house to recoup its losses.

Saline Soil

Saline soil is brackish and has a high salt content in extremely dry regions. It can be damaging to plant growth, impede germination, and create difficulties for irrigation. The salinity is due to a buildup of soluble salts in the ground's rhizosphere. High salt content prevents water uptake by plants and leads to drought stress.

Sandy

Sandy soil has the largest particles of the different soil types. It's dry and gritty, and it can't hold water because the particles have huge spaces between them. Water drains rapidly through sandy soil. This makes it difficult for plants to use the nutrients in sandy soil because the nutrients are carried away by the runoff.

Scarcity

Scarcity is a shortage of land in a given geographical area where there is a great demand for land. It is a man-made characteristic. One famous example of this is Manhattan Island in New York City. Manhattan Island is 13 miles long, two miles wide, and home to over 1.5 million people, with an additional 1.5 million commuting to Manhattan each day to work. The median sale price of a home in Lower Manhattan is $3 million.

"As Is"

Selling the property without warranties as to the condition and/or the fitness of the property for a particular use. Buyers are solely responsible for examining and judging the property for their own protection. Otherwise known as "As Is, Where Is" and "In its Present Condition."

State Estate Tax

Several states, not including Oregon, collect taxes on the transfer of a deceased person's property.

Silty

Silty soil has much smaller particles than sandy soil. When moistened, it's soapy slick. When you roll it between your fingers, it leaves dirt on your skin. Silty soil retains water longer and is more fertile than sandy soil.

Equitable Servitudes

Similar to a covenant, an equitable servitude also puts controls on what a property owner can do with his or her land. The main difference between a covenant and an equitable servitude is that a breach of an equitable servitude is remedied by an injunction, which is a court order that demands the stoppage of an action prohibited by the equitable servitude. In addition, an equitable servitude usually runs with the land. Equitable servitudes that run with the land have to be in writing, have to have been intended to persist, have to relate to the landlord status of the parties, and parties that servient lands are transferred to have to be informed of the equitable servitude.

Situs

Situs, or location preference, refers to a location from an economic rather than a geographic standpoint. Residential, commercial, and industrial properties have different location preferences for different reasons. For a residential area, natural factors like weather, views, and air quality affect situs, along with man-made factors like job opportunities, shopping, and schools. An industrial zone's situs depends on such factors as the availability of a labor market, ample water and electricity supplies, and access to railways. Situs is the reason why house lots on street corners, corner offices, and apartments with commanding views are valued more highly than identically-sized lots in less-preferred locations. It's worth noting, however, that situs can change with time. The freeway-building boom of the 1950s and '60s, for example, increased situs in the suburbs. The trend now, however, appears to be reversing. Historic downtown rehabilitation and a desire to shorten commutes have inspired people to move back into central, urbanized areas, increasing the situs in cities compared to that in suburbs.

Types of Soil

Soil is a major component of the Earth's ecosystem. Soil is the mixture of minerals, organic matter, gasses, liquids, and micro- and macro-organisms that can support plant life. Soil is a natural body that performs four functions: it is a medium for plant growth; a means of water storage, supply, and purification; a modifier of the atmosphere; and a habitat for organisms that take part in decomposition and creation of habitats for other organisms. Soil consists of a solid phase (containing minerals and organic matter) and a porous phase (that holds gasses and water). There are many recognized soil classifications (e.g., clay, loam, clay-loam, silt-loam), but there are five that farmers and gardeners generally identify: sandy, silty, clay, peaty, and saline soil.

Neutralization

Some hazardous waste can be processed so that the hazardous component of the waste is eliminated, making it a non-hazardous waste. An example of this might be a corrosive acid that is neutralized with a basic substance so that it is no longer corrosive. Another means to neutralize some of the waste is pH adjustment; pH is an important factor in the leaching activity of the hazardous waste. By adjusting the pH of some toxic materials, we are reducing the leaching ability of the waste.

Pyrolysis

Some hazardous waste types may be eliminated using pyrolysis in an ultra-high temperature electrical arc, in inert conditions to avoid combustion. This treatment method may be preferable to high-temperature incineration in some circumstances such as in the destruction of concentrated organic waste types, including PCBs, pesticides, and other persistent organic pollutants.

Murder/Suicide Stigma

Some jurisdictions in the United States require property sellers to reveal if murder or suicide occurred on the premises.

Private Nuisance

Some key points have emerged over time which help quantify what constitutes a private nusiance. These are: interference, "no fault" required, negligent nuisance, and violations of statute as nuisance. In essence, for a condition to be classified by the courts as a "nuisance," it must somehow interfere with another's use or enjoyment of his or her own property. Further, the condition must be ongoing and persistent. It does not have to be continuous, but neither may it be a single, one-time occurrence. Negligent nuisance occurs when an individual allows a nuisance to persist after becoming aware of the condition. They do not need to have caused the condition, but they do need to have the power to stop or modify the condition for this concept to apply. Finally, in cases where the nuisance is caused by violation of a statute, the governing jurisdiction may pursue charges for the violation while private parties still retain the right to file suit separately for the nuisance. An example might be of a company contaminating a river through dumping, which is in violation of statutes and creates a nuisance.

Phenomena Stigma

Some states require disclosure if a house is renowned for "haunting," ghost sightings, etc. This is in a separate category from public stigma where the knowledge of "haunting" is restricted to a local market.

Preview

Specified date and time property is available for prospective buyer viewing and audits. Also known as Open House or Inspection.

Township Lines

Straight, imaginary lines running east and west and parallel to a baseline.

Range Lines

Straight, imaginary lines running north and south and parallel to a Principal Meridian.

Strict Liability

Strict liability claims relate to intentional acts of the defendant. If an individual, through an intentional act, creates a condition that damages another, even when the damage is unintentional and unforeseeable, then that individual is liable for the damages. Generally speaking, strict liability will not be presented as a cause of action. Causes of action are more likely to be for nuisance, trespass, or even negligence. However, strict liability does make an excellent answer to any defenses that the defendant may raise against the plaintiff's claim.

Oregon Statutes on Subdivisions and Partitions (ORS 92.010 - 92.990) Overview

Subdivision is the act of dividing land into pieces that are easier to sell or develop. The former single piece, which was an undivided whole parcel or lot, is now termed a "subdivision." A partition is another means for dividing a parcel into smaller units. A partition is any division of real property or personal property between co-owners, resulting in individual ownership of each piece. A subdivision ordinance outlines the process for subdividing or partitioning a parcel or property within a jurisdiction. It also establishes standards for providing infrastructure such as sewers, street development, water system improvements, and a host of other design standards.

Uniform in Operation

Such laws must be uniform in operation, nondiscriminatory, and cannot be advantageous to any one particular person or group. In essence, it is an authority derived from individual state constitutions, which also vest the power in counties, cities, and municipalities to adopt and enforce appropriate local ordinances and regulations that are not in conflict with state laws. Some examples of police power are the rights to: Tax Regulate land use through a general plan and zoning Require persons selling real estate to be licensed Regulate pollution, environmental control, and rent control. Traditional concepts of police power have broadened in recent years to include furthering aesthetic beauty in a community. For example, courts have upheld an ordinance restricting advertising in state parks, as well as upholding the regulation of the appearance of a community through design review boards.

Taking Reasonable Precautions

Taking reasonable precautions against the reasonably foreseeable actions and omissions of a third party means trying to prevent conditions that could cause a third party to be exposed to an unacceptable risk. This might include: Notifying contractors of contamination so they can take proper precautions; Preventing trespass that would result in an unacceptable exposure (neighborhood kids playing in a vacant industrial yard that has direct-contact hazards); or Taking actions to secure abandoned containers so they are not damaged by traffic, etc.

ORS 91.020 Tenancies Classified

Tenancies are as follows: Tenancy at sufferance, tenancy at will, tenancy for years, tenancy from year to year, tenancy from month to month, tenancy by entirety and tenancy for life. The times and conditions of the holdings shall determine the nature and character of the tenancy.

Tenancy in Common

Tenancy in common involves a piece of property being owned by more than one person. What defines tenancy in common from other forms of mutual ownership is that, when an individual involved in this kind of tenancy dies, their ownership interest is not subject to survivorship, and the tenant in common's interest becomes a part of their estate to be distributed accordingly. Under survivorship, upon the death of a co-owner of a property, their ownership interest ends. At the same time, the interest ownership interests of the other co-owners are increased proportional to the amount of ownership interest the deceased co-owner held. This process happens without the need for any official act to transfer or distribute the deceased co-owner's ownership interest. With a tenancy in common, when a co-owner dies, their ownership interest ends as well unless the other co-owners take official actions to transfer the deceased co-owner's ownership interest to one or more of the remaining co-owners.

How Easements are Terminated

Termination of an easement depends on the type of easement. Any easement can be terminated if the servient and dominant properties ever end up owned by the same party. Similarly, if the holder of the easement and the owner of the servient property are ever the same person, the easement is terminated. Easements can also be terminated by abandonment. To establish that abandonment has occurred, the owner of the easement must have intent to abandon the easement and demonstrate through actions and intention to terminate the easement. Allowing an easement to fall into disrepair could also constitute intent to abandon the easement. An easement can be terminated if the servient property owner prevents the holder of the easement from accessing the easement for a specific period of time. Just as an easement can be created by prescription, it can be terminated by a similar process. Sometimes an easement is created with a time limit. After the specific period of time has elapsed the easement is terminated. A grant of right-of-way would constitute an easement with a time limit. When the utility is finished installing or maintaining the equipment, the easement is terminated.

Testate vs. Intestate

Testate is the legal term for having a will, whereas intestate is the legal term for dying without a will. Having property which is intestate means that the state (rather than the owner of the property) will determine how the property is distributed. It is possible to be intestate even if there is a will? Yes; a will can be declared invalid by a court, thus leaving the decedent intestate. This usually happens when an issue arises concerning an area in the will that is unclear or illegal. Dying intestate not only means that property may go to the wrong individuals, but it can also affect any asset protection devices that would have been established by the will.. One can also be partially testate (or partially intestate) if the will does not cover all of the decedent's property. It is very important to have a will set up which includes all assets and to have the will reviewed by a lawyer to ensure that it will be valid.

Aliquot Part or Subdivision of a Section

The Aliquot part of a section is the standard subdivisions of that section, such as half section, quarter section, or quarter-quarter section. Since the standard section is 640 acres, subdividing the section is a relatively simple process. A quarter section, or 160-acre tract, is the most common subdivision and would be described, for example, in writing as the NE 1/4 of Section 13 or when spoken as "the Northeast Quarter of Section 13"). Quarter sections are designated as NE, NW, SW, and SE quarters of the section-each being described by denoting its direction from the center of the section. The same procedure is followed with smaller subdivisions. When a quarter-section is divided into quarters of 40 acres each, called "quarter-quarter sections," each 40 or quarter-quarter is described by denoting its direction from the center of the quarter section, such as the SE 1/4 of the NE 1/4, for example.

For CC&Rs to persist past a transfer of title, the following conditions must be fulfilled:

The CC&Rs must be in writing; The original parties must have intended them to "run with the land"; The CC&Rs must have a connection to the landowner status of the parties; There must be "horizontal privity" [Note: privity means a legal relationship between two or more parties; vertical privity would characterize the relationship between a seller and a buyer (one is ceding his or her interest to the other), while horizontal privity means that the shared interests are maintained even when property is transferred]; and Any party to whom the land is transferred must be given reasonable notice that the CC&Rs exist.

This instrument itemizes all the fees and charges actually imposed on the borrower and the seller in a real estate transaction? The Closing Estimate The Closing Disclosure The Loan Disclosure The Loan Estimate

The Closing Disclosure

ORS 305.105 Declaratory rulings by department; rules

The Department of Revenue in its discretion may, on petition by any interested person, issue a declaratory ruling with respect to the applicability to any person, property or state of facts of any rule or statute enforceable by it. The department shall prescribe by rule the form, content and procedure for submission, consideration and disposition of such petitions. Full opportunity for hearing shall be afforded to interested parties. A declaratory ruling shall bind the department and all parties to the proceedings on the state of facts alleged, unless it is altered or set aside by a court. A ruling shall be subject to review in the Oregon Tax Court and Supreme Court in the manner provided by ORS 305.445. [Formerly 306.710]

ORS 305.615 Apportionment of moneys received from United States in lieu of property taxes

The Department of Revenue shall apportion annually to the state and counties any moneys received by the state from the United States, or any agency thereof, as payments in lieu of ad valorem property taxes. Such moneys shall be apportioned in the same amounts and to the same governmental divisions as the taxes in lieu of which the payments are made would be apportioned if they were levied.

ORS 305.110 Duty to construe tax laws; instruction of officers acting under tax laws

The Department of Revenue shall construe the tax and revenue laws of this state whenever requested by any interested person or by any officer acting under such laws and shall instruct such officers as to their duties under such laws. Such officers shall submit all questions arising with them which affect the construction of tax and revenue laws of the state to the department.

ORS 305.160 Reports from public officers

The Department of Revenue shall require from any state, county or municipal officer, whose duties pertain to the assessment, apportionment, levy or collection of taxes and public revenues, or the disbursement of public funds, reports and statements in such forms as the department may prescribe, as to any matter deemed material and relevant to the attainment of uniformity in the assessment and collection of taxes and public revenues.

ORS 306.120 Uniform methods of assessment; continuing study of equalization

The Department of Revenue shall: (1) Issue regulations, bulletins, manuals, instructions and directions to county assessors, county boards of property tax appeals and tax collectors as to the methods best calculated to secure uniformity according to law, in the system of assessment and collection of taxes. (2) Carry on a continuing study with the object of equalizing for the purposes of assessment and taxation property values within the counties and between the counties.

ORS 305.100 Rules; forms

The Department of Revenue shall: (1) Make such rules and regulations it deems proper to regulate its own procedure and to effectually carry out the purposes for which it is constituted. (2) Prescribe all forms of books and blanks used in the assessment and collection of taxes not otherwise prescribed by law and change the forms of blanks and books prescribed by law in case change is necessary.

ORS 305.170 Complaints concerning tax laws; reports and recommendations to Legislative Assembly

The Department of Revenue: (1) Shall see that complaints concerning the law may be heard, information as to its effects may be collected and all proper suggestions as to amendments may be made. (2) Shall report to the Legislative Assembly, at each odd-numbered year regular session, the total amount of taxes collected in the state for state, county and municipal purposes. (3) May investigate the tax laws of this and other states and the possible taxable resources of this state for the purpose of recommending to the legislature methods by which a more just and equitable system of taxation may be developed. (4) Shall recommend to the Legislative Assembly at each odd-numbered year regular session such amendments of the Constitution or laws as may seem necessary to remedy injustice or irregularity in taxation, or to facilitate the assessment and collection of public taxes and revenues.

Restrictions on Contaminated Property

The Director of the Oregon Health Authority, the State Fire Marshal, and local law enforcement agencies are allowed to determine that a property is not fit for use. Contamination of a property by pollution or toxic substances is one of the reasons why a property can receive this declaration. If a property deemed not fit for use continues to be used by its owner, the owner can be considered to be maintaining a public nuisance. A property owner also can be considered to be maintaining a public nuisance if they do not decontaminate their property and have it certified for use within 180 days of it being declared unfit for use.

Wetlands Enhancement Objective

The Enhancement Objective, as stated in Section 309 of the Coastal Zone Management Act, seeks to protect, restore, and enhance the existing coastal wetlands base. The Enhancement Objective also investigates ways to create new wetlands.

ORS 215.700 Resource land dwelling policy

The Legislative Assembly declares that land use regulations limit residential development on some less productive resource land acquired before the owners could reasonably be expected to know of the regulations. In order to assist these owners while protecting the state's more productive resource land from the detrimental effects of uses not related to agriculture and forestry, it is necessary to: (1) Provide certain owners of less productive land an opportunity to build a dwelling on their land; and (2) Limit the future division of and the siting of dwellings upon the state's more productive resource land. [1993 c.792 §10]

ORS 306.113 Legislative findings

The Legislative Assembly finds that for the property tax system to function appropriately it is essential that administration be results-based, innovative and efficient. Any direction to, or review of, county administration by the State of Oregon shall carry out this finding.

ORS 92.317 Policy; protection of consumers

The Legislative Assembly finds that the repeal of ORS 92.500 to 92.810 and 92.990 (2) and (3) (1973 Replacement Part), by section 23, chapter 1, Oregon Laws 1974 (special session), may cause irreparable damage to the interests of consumers involved in real estate transactions. It is therefore declared to be the policy of the State of Oregon that the Attorney General protect the rights of such real estate purchasers to the greatest extent practicable through the application of the provisions of ORS 646.605 to 646.652.

ORS 92.832 Policy

The Legislative Assembly finds: (1) There is a need to create a mechanism for owners of manufactured dwellings in existing manufactured dwelling parks and mobile home parks to acquire individual ownership interest in the lot on which the dwelling is located; (2) The creation of an individual ownership interest should not impose an undue financial burden on the owner of a park; (3) The public interest is furthered by regulating the promotion, subdivision and sale of individual ownership interests in the lots in a park to owners of manufactured dwellings to ensure that local jurisdictions do not place unreasonable constraints on the conversion of existing parks into planned community subdivisions of manufactured dwellings; and (4) The orderly conversion of manufactured dwelling parks and mobile home parks to subdivisions has effects on infrastructure and access that make it appropriate to require assurances that public health and safety standards are met by persons buying or selling lots converted from a park.

ORS 223.207 Purpose of ORS 223.208

The Legislative Assembly hereby declares that the purpose of ORS 223.208 and this section is to provide purchasers of homes or multifamily dwellings with Bancroft financing of system development charges as an alternative to absorbing those charges into the long-term permanent financing of their homes.

President's Role

The Managing Agent utilizes the President as the main point of contact. The President guides the Board throughout the decision-making process. They set and establish the Board's monthly meeting agendas and must ensure that the conduct of business follows the agenda.

Coastal Regions

The Oregon Coastal Management Program's mission is to conserve and protect Oregon's coastal resources. The program does so by assisting local governments to develop livable, resilient coastal communities, and knitting together the programs and activities of local, state, and federal agencies for the Oregon coast. From Astoria to Brookings, Oregon's coastal communities are diverse. Some are small and quiet, while others are regional hubs. All are challenged by seasonal economic activity, aging demographics, increasing housing costs, and challenging transportation requirements. Protecting Oregon's coastal heritage extends to many different features. Oversight of public beaches, estuaries, rocky shores, coastal forests and streams, and sand dunes all fall under the Coastal Management Program. Preservation of these resources also includes planning and maintaining emergency responsiveness to coastal erosion, dune movement, tsunamis, and storm events.

ORS 306.356 Property Tax Expenditure Funding Account

The Property Tax Expenditure Funding Account is created in the General Fund. Amounts appropriated to the Property Tax Expenditure Funding Account for the biennium are continuously appropriated to the Department of Revenue for the purpose of making property tax expenditure funding payments as provided in ORS 306.359.

What gives a property owner the right to determine who can and cannot cross into a piece of real estate? The Right of Exclusion The Right of Disposition The Right of Enjoyment The Right of Control

The Right of Exclusion

Section 18 of a plot of land has been divided into quarters. Looking at the section on a map, how would you describe the lower half of the right quadrant of the section? The proper legal description of this quarter-quarter rectangular survey is: The lower right SE quadrant of Section 18. The S ½ of the SE ¼ of section 18. The lower SE quadrant of Section 18. The SE ¼ of S Section 18.

The S ½ of the SE ¼ of section 18.

Secretary's Role

The Secretary is responsible for the minutes of the meetings, and to authenticate Association documents and correspondence, when required.

Treasurer's Role

The Treasurer's responsibility is to ensure that the financial records of the Association are properly kept. The treasurer will review the monthly statements for accuracy, but is not liable for validation of the accounting. That is the job of the CPA when engaged to conduct the annual audit. The Treasurer's authority to approve expenditures should be granted and approved by the Board and entered into the association's Minutes.

Appraisal

The act or process of estimating value.

Time and Method of Transfer

The actual transfer of title must be dictated through the deed. This will often involve something such as saying that it will be mailed to the buyer within three weeks. Without a section that lays out how the title is transferred, the buyer could be left in limbo for far longer than they expect.

Property Tax Rates

The assessed values of all the properties subject to taxation in a particular jurisdiction are added together in order to determine the tax rate. Depending on the state, the tax rate may be expressed as dollars per hundred, dollars per thousand, or as a mill rate. Dollars per hundred is an abbreviated way of saying a certain amount of dollars of tax are owed for every $100 of assessed value. Dollars per thousand expresses the tax as a certain amount of dollars per every $1,000 of assessed value. Millage rate is the same as dollars per thousand with the exception that the amount of tax is expressed as a number of mills.

The Right of Ownership

The best way to define ownership is that a party that "owns" a property has the original bundle of rights for that property from which other rights may have been removed.

The Bundle of Rights

The bundle of rights is, once again, the starting point for our discussion regarding property titles. The bundle of rights is a way to picture the complex set of rights held and exercised by someone who holds title to a piece of property. When a title is transferred to someone else, the bundle of rights associated with the property is transferred as well.

ORS 105.485 Allocation of burden of proof

The burden of proof of lawful delivery of a seller's property disclosure statement and any amendment thereto is on the seller. The burden of proof of lawful delivery of a notice of revocation of a buyer's offer is on the buyer.

Bylaws

The bylaws are the rule book by which the association, and particularly the officers and directors, function. The bylaws spell out the policies and procedures that will be employed in the everyday governance and administration of the complex. They describe members of the association, the types of meetings the members are required to have and their frequency, as well as what constitutes a quorum for these meetings. The bylaws delineate the obligations of the members, including what they are required to maintain and repair, and what happens if a member does not pay the assessment fees. They describe the makeup and responsibilities of the board of administration, the terms of office, the frequency of board meetings, the timing of the notice regarding meetings, the election process, and the board's powers and duties. The bylaws usually include provisions for the removal of board members, the keeping of meeting notes, and the content and notice of the annual budget. In most communities, amending the bylaws is easier than amending the Declaration.

Comprehensive Plans

The characteristics of a comprehensive plan include the following: A plan for the physical development of a community Should be future-oriented Should be geographically and functionally comprehensive Should include land use, public facilities, and circulation elements

ORS 215.080 Power to enter upon land

The commission, and any of its members, officers and employees, in the performance of their functions, may enter upon any land and make examinations and surveys and place and maintain the necessary monuments and markers thereon.

Courses

The compass direction of a call.

Common Areas and Building Exteriors

The condominium association board must maintain — and keep in good repair — all common areas and building exteriors. Common areas are those used by all unit owners who have been deeded title to small percentages of these areas. These areas include building lobbies, open land or parks, tennis courts, pools and other amenities available to all residents. Whether a high-rise, townhouses, or cluster housing, building exteriors require maintenance and repair, particularly the siding and roofs.

The Condominium Concept

The condominium concept created a new way of thinking about property ownership. Previously, property ownership had been limited to ownership of land. With the introduction of the concept of the condominium, it became possible for an individual to own airspace. Specifically, the individual is purchasing ownership of the space described by the boundary of a set of walls. The walls, themselves, may or may not be included in the individual's ownership, depending upon the terms of the condominium agreement. This is the first half of the condominium concept. The second half of the condominium concept relates to the remainder of the structure which is not privately owned by one or more individuals. Remembering that the owner's Title of ownership extends only as far as the walls of their defined space, all else that remains outside of those individual spaces becomes common space, owned jointly by a collective of all of the individual owners. This is the second key characteristic that distinguishes the condominium from other forms of property ownership: The owner of a unit also owns an undivided interest with other unit owners in the "common elements." It is termed an "undivided interest" because that interest cannot be separated from the unit.

A condominium is a combination of two kinds of ownership.

The condominium unit owner holds title to his individual unit together with an undivided interest in common with all unit owners in the "common elements." The land and those parts of the building or buildings intended for common use, such as the foundation, framing, siding, roofs, stairways, utility services and the like, are the common elements.

ORS 98.170 Sale

The constable or sheriff receiving the inventory and order provided for in ORS 98.160 (Inventory and order to sell) shall give 10 days notice of the sale by posting written notices thereof in three or more places in such constable district, or in the county, and sell the property at public auction to the highest bidder in the same manner as provided by law for sales under execution from justice courts.

Typical New Home Home Warranty Coverage

The contractor must, in writing, offer the warranty either before or at the time the contractor and owner (or buyer) sign a contract for the construction of the home. A home warranty usually covers: Structural defects: Warranties against the failure of structural components such as the load-bearing elements of a home; Major home system failures: Warranties against failure of plumbing, electrical, heating, and air-conditioning systems. Also warranties against failure of major appliances, such as refrigerators, dishwashers, ovens, and stove-tops. Workmanship: Promises to repair defects in the performed work (such as installation of appliances, decorative or structural elements, etc.)

Depreciation

The cost of income-producing property is recovered through yearly tax deductions. This is done by depreciating the property; that is, by deducting some of the cost each year on one's tax return. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property. Depreciation is an indicator of how much an asset's value has been used up. Most types of tangible property (except land), such as buildings, machinery, vehicles, furniture, and equipment are depreciable. There are three kinds of depreciation: physical deterioration, functional obsolescence, and economic obsolescence.

Carrying Charges

The costs involved in holding a property which is intended to produce income (either by sale or rent) but has not yet done so, i.e., insurance, taxes, maintenance, management.

ORS 93.630 Index to Record of Deeds, Mortgages and Other Real Property Interests

The county clerk shall also keep a proper direct index and a proper indirect index to the record of deeds, mortgages and all other real property interests required or permitted by law to be recorded, in which the county clerk shall enter, alphabetically, the name of every party to each instrument recorded by the county clerk, with a reference to where it is recorded.

ORS 93.620 Time and Place of Recording; Certification

The county clerk shall certify upon every instrument recorded by the county clerk the time when it was recorded and a reference to where it is recorded. Every instrument is considered recorded at the time it was so certified.

The plat of a subdivision, when made and approved as required and offered for record in the records of the county where the described land is situated, must be recorded by the following: The seller's real estate broker The county sheriff An escrow officer The county recording officer

The county recording officer

ORS 312.080 Summary hearing

The court shall examine the application for judgment. If answer and defense is filed by any defendant or other interested person, the matter shall be heard in a summary manner without other pleading.

ORS 312.090 Judgment; lien; interest

The court shall give judgment for the delinquent taxes and interest appearing to be due on the several parcels of real property described in the application, and shall enter a judgment requiring that the several liens of such taxes be foreclosed. The judgment shall be a several judgment against and a lien on each parcel of property included therein. The several judgment shall bear interest at the legal rate from the date of entry thereof.

ORS 312.100 Order for sale of properties to county; certified copy of judgment as certificate of sale

The court shall order that the several properties, against which the judgment is entered, shall be sold directly to the county for the respective amounts of taxes and interest for which the properties severally are liable. The clerk of the court shall deliver to the tax collector a certified copy of the judgment, included in which shall be a list of the properties so ordered sold, with the several amounts due thereon. The certified copy shall constitute a certificate of sale to the county of the several properties described in the judgment and no other certificate need be issued.

ORS 100.430 Unit deeds; contents

The deed of a unit shall contain: (1) The name of the property, and the recording index numbers and date of recording of the declaration and in the case of a staged or flexible condominium, the applicable supplemental declaration or declaration amendment. (2) The unit designation of the unit. (3) Any further details the grantor and grantee may consider desirable.

ORS 305.770 Report of taxpayers paying invalid tax; issuance and payment of warrants

The department or agency of the state charged with the duty of administering the law so invalidated, either wholly or in part, shall prepare a detailed report, listing by name, address and amount of payment each taxpayer who paid an invalid tax under the law. The Oregon Department of Administrative Services shall issue a warrant in favor of each taxpayer listed therein, in the amount so reported, and shall forward the warrant to the taxpayer at the address shown in the report. The State Treasurer shall pay the warrants from the General Fund in the usual manner when and as presented. Warrants refunding invalid taxes shall be payable to the taxpayers named in the report required by this section or to their heirs, administrators, executors or assigns.

Several items first must be identified to ensure the proper depreciation of a property, including:

The depreciation method for the property The class life of the asset Whether the property is "Listed Property" Whether the taxpayer elects to expense any portion of the asset Whether the taxpayer qualifies for any "bonus" first year depreciation

Definition of Condominium

The difference between a condominium and an apartment complex is purely legal: there is no way to know a condominium from an apartment simply by looking at the building. What defines a condominium is the form of ownership. The same building developed as a condominium (and sold in individual units to different owners) could actually be built someplace else as an apartment building (the developers would retain ownership or sell ownership to an individual or group and rent individual units to different tenants). Ownership of the space (i.e., airspace) contained within a condominium is assigned to an individual. But common areas such as hallways, heating and air conditioning systems, elevators, and exterior areas are controlled by the HOA. Fees are charged to the condo owners for maintenance of the common areas. A condominium is a form of property ownership with more than a casual relationship to the other condo owners. It's a form of housing tenure where a specified section of a larger piece of real estate (usually an apartment building) is individually owned, while use of, and access to, common facilities in the larger piece—such as hallways, heating systems, elevators, and exterior areas—are controlled by the association of owners that jointly represent ownership of the whole piece. It is also possible for a condominium to consist of single-family dwellings: so-called "detached condominiums" where homeowners do not maintain the exteriors of the dwellings, yards, etc. or "site condominiums" where the owner has more control and possible ownership (as in a "whole lot" or "lot line" condominiums) over the exterior appearance. These types of legal structures are preferred by some planned neighborhoods and gated communities.

ORS 281.230 Action by district attorney

The district attorney of the judicial district in which the property to be condemned lies shall: (1) Commence and prosecute the suit, action or proceeding in the circuit court of such district, when requested by the board; or (2) Aid the Attorney General in so doing in any manner requested by the Attorney General.

ORS 281.250 Payment of expenses of proceeding, value and damages

The expenses of the condemnation proceeding, the value of the property, and the damages for the taking thereof, shall be paid out of the funds provided for the department or institution for which the property is acquired in the same manner as other expenses for like purposes of such department or institution are paid. If no funds have been provided out of which the same can be paid, payment shall be made out of any funds in the treasury not otherwise appropriated, and the Oregon Department of Administrative Services is authorized to draw a warrant on the treasurer therefor.

ORS 91.090 Termination of tenancy by failure to pay rent; reinstatement

The failure of a tenant to pay the rent reserved by the terms of the lease for the period of 10 days, unless a different period is stipulated in the lease, after it becomes due and payable, operates to terminate the tenancy. No notice to quit or pay the rent is required to render the holding of such tenant thereafter wrongful; however, if the landlord, after such default in payment of rent, accepts payment thereof, the lease is reinstated for the full period fixed by its terms, subject to termination by subsequent defaults in payment of rent.

Federal Law: The Solid Waste Disposal Act

The federal Solid Waste Disposal Act provides for development of individual state plans for the management of non-hazardous, solid waste. This includes general guidelines, criteria for landfills and dumps, and provisions for enforcement and citizen lawsuits.

State Income Tax

The federal government does not levy property taxes; the state does. (Levy means to impose or collect a tax.) The federal government does collect income taxes, which usually includes capital gains from the sale of real estate.

Commission

The fee charged to the seller by the auctioneer for providing services, usually a percentage of the gross selling price of the property established by contract (the listing agreement) prior to the auction.

General Demand in the Market

The final uncertainty factor considered is actually positive in nature, rather than negative. The literature has found that all of these negative impacts on property values, including stigma, can be overcome and eliminated by demand in the market. When demand is high, these factors become less relevant as the options for buyers decrease. Accordingly, the effects on property values become markedly less.

ORS 92.245 Fees for review proceedings resulting in modification or vacation

The governing body of a city or county may, by ordinance or regulation adopted in accordance with ORS 92.048, prescribe fees sufficient to defray the costs incurred in the review and investigation of and action upon undeveloped subdivisions for which the plat is modified or vacated under ORS 92.205 to 92.245.

ORS 92.105 Time limit for final action by city or county on tentative plan

The governing body of a city or county or its designate is subject to the provisions of ORS 215.427 or 227.178 in taking final action on an application for approval of a tentative plan for a subdivision or partition located within an acknowledged urban growth boundary.

Market Value

The highest price in terms of money that a property will bring in a competitive and open market under all conditions requisite to a fair sale, with buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus or suppression.

The Right of Exclusion

The holder of the right of exclusion has the recognized authority to determine who can and cannot cross into a piece of real estate. The right to exclude parties from accessing a property is part of what makes private property private.

Common Law and Federal Law

The information contained in this lesson is only a summary and overview of what are, in fact, several hundred pages of environmental law. This lesson is not intended to offer either the final word in environmental law or a complete and thorough description of the topic. All students should take the time to review this material in detail for their own benefit and so that they can better serve their future customers.

62.135 Bylaws

The initial bylaws of a cooperative shall be adopted by its board of directors. Power to alter, amend or repeal the bylaws or adopt new bylaws is vested in the members of the cooperative. Bylaws may contain any provisions for the regulation and management of the affairs of the cooperative not inconsistent with law or the articles.

ORS 223.245 Budget to include bond payments

The interest on the bonds and the amounts of the installments of maturing bonds shall be included in the annual budget of the issuing local government. There shall be deducted in the budget the amount that the governing body conservatively estimates will be received from payments of the principal of and interest on installments of final assessments appertaining to the particular bond issue, and from receipts from sales and rentals of property acquired by the local government pursuant to the assessments, during the fiscal year.

ORS 88.060 Enforcement of judgment

The judgment may be enforced by execution as an ordinary judgment for the recovery of money, except as in this section otherwise provided: (1) When a judgment of foreclosure and sale is given, an execution may issue thereon against the property adjudged to be sold. If the judgment is in favor of the plaintiff only, the execution may issue as in ordinary cases, but if it is in favor of different persons, not united in interest, it shall issue upon the joint request of such persons or upon the order of the court or judge thereof on the motion of any of them. (2) When the judgment is also against the defendants or any one of them in person, and the proceeds of the sale of the property upon which the lien is foreclosed are not sufficient to satisfy the judgment as to the sum remaining unsatisfied, the judgment may be enforced by execution as in ordinary cases. When in such case the judgment is in favor of different persons not united in interest, it shall be deemed a separate judgment as to such persons, and may be enforced accordingly.

Lack of Information

The lack of comprehensive information on the location, extent, and condition of coastal freshwater and estuarine wetlands is still a major impediment to protection, management, and monitoring efforts. Local, state, and federal government cannot easily manage wetland impacts without baseline information. Currently in Oregon, little financial assistance is available for data collection needed to comprehensively identify wetlands on an ecosystem level.

Limitations on Measure 37

The law did have some limitations. The law would not apply to land use decisions that govern the following four situations (i.e., state restrictions can be upheld in the following matters): Activities that are commonly or historically recognized as public nuisances -- this limitation will be interpreted as narrowly as possible, i.e. only state and local restrictions on public nuisances with strong evidence against them will be protected. Activities that protect the public health and safety. Activities involving the selling of pornography or the performance of nude dancing. Land use regulations enacted in order to comply with federal law. Two of these limitations have their own limitations. If a land use regulation is enacted after 2007 in order to protect the public health and safety or to comply with federal law and that regulation affects farming or forest practices, then the owner may be able to file for a Measure 37 exemption a case-by-case basis. Regulations that protect public health and safety will apply only if they protect human health and safety (as opposed to environmental). Regulations that comply with federal laws will apply only if the federal law mandated that the regulating entity enact the law and did not give the option to decline. Within three years of its passage, 6,857 claims had been filed with a total value of the claims exceeding $17 billion.The State of Oregon had a total budget of $25.8 billion in 2013, which means that the cost for these claims would have been more than 65% of the 2013 budget. Given this immense cost, all but one of the cases filed under Measure 37 were given an exemption instead (and about 20% were rejected).

Conditions of Sale

The legal terms that govern the conduct of an auction, including acceptable methods of payment, terms, buyer's premiums, possession, reserves, and any other limiting factors of an auction. Usually included in published advertisements or announced by the auctioneer prior to the start of the auction.

ORS 87.382 Foreclosure

The liens described in ORS 87.352 to 87.362 shall be foreclosed in the manner provided in ORS chapter 88.

What is the Difference Between Deed and Title?

The main difference between a deed and a title is that the title shows the rights to which a person is entitled, while a deed is a legal instrument which is referred to when conferring these rights. In other words, the title only shows the ownership, while the deed is the formal, legal document that can assign or transfer property ownership.

Managing Agent's Role

The management company (assuming there is one) generally assigns a qualified Account Executive as the company's liaison to the Board, owners, residents, and all vendors and professionals doing business with the Association. That person, often called the AE, attends meetings, provides information, receives instruction, and carries out tasks as assigned by the Board. The AE assists with budgeting, collections, contracts, inspections, and assists with the employees of the Association. The AE will instruct, evaluate, and offer guidance to the Resident Manager and other employees of the association, and assist the Resident Manager in establishing a schedule of inspections and servicing for maintenance. Other departments within the management company will typically provide accounting, administrative, and human resources services. Together with the AE, this team carries out the duties as set forth in the Management Agreement with the association.

Property Events

The maximum assessed value can increase by more than 3% for any of the following property events: Changes in property value as a result of new property or new improvements to the property The property is partitioned or subdivided The property is rezoned and used consistently with rezoning The property is first taken into account as omitted property The property becomes disqualified from exemption, partial exemption or special assessment New construction affects MAV if it increases the value of the property by more than $10,000 in any one year or $25,000 within any consecutive five years. These changes will always have an effect on real market value, although they may not have an effect on MAV.

ORS 92.339 Use of fees

The moneys received under ORS 92.305 to 92.495 and this section shall be paid into the State Treasury and placed to the credit of the General Fund in the Real Estate Account established under ORS 696.490.

A unit sales agreement shall contain the following: -The name and address of the escrow agent to hold the purchaser's funds and a reference to the escrow instructions controlling the escrow -a computerized list of all adjacent income-producing properties -all of these -a comprehensive list of negotiated prices between lessor and lessee

The name and address of the escrow agent to hold the purchaser's funds and a reference to the escrow instructions controlling the escrow

Testamentary Trust

The opposite of an inter vivos trust is a testamentary trust. A testamentary trust is created through instructions in a deceased's will and goes into effect upon an individual's death. For example, an individual could place instructions in their will that when they die, their property is to be placed into a trust. They can name whoever they choose as beneficiaries. They can also give instructions as to how their assets are to be managed and how much (and how often) to pay the beneficiaries. Trusts provide property management and financial control, as well as a number of tax and estate planning advantages.

Fire-Resistance Rating

The other factor in determining construction is fire-resistance rating. The building materials used in the construction of the building features above will have a fire-resistance rating. Fire-resistance rating typically means the duration during which a passive fire protection system can withstand a standard fire-resistance test. This test can be quantified as a simple measure of time (i.e. 0 hours, 1 hour, or 2 hours), or it may entail other criteria involving other evidence of functionality or fitness for purpose. For the purposes of giving a fire-resistive rating to determine how that rating affects the value of a structure, the rating is summarized as types 1 through 5. Each of these types is then assigned either the letter A, which means the structure has an active fire protection system, or the letter B, which means it is unprotected other than through passive fire-resistant construction.

ORS 453.882 Contaminated property as public nuisance

The owner of property shall be considered to be maintaining a public nuisance subject to being enjoined or abated under ORS 105.550 to 105.600 if the property has been determined to be not fit for use under ORS 453.876 and the owner: (1) Allows the property to be used as if it were fit for use; or (2) Fails to have the property decontaminated and certified as fit for use under ORS 453.885 within 180 days after the determination under ORS 453.876.

Auctioneer

The person whom the seller engages to direct, conduct, or be responsible for a sale by auction. This person may or may not actually call or cry the auction. Also known as a bid caller.

Auction Value

The price which a particular property brings in open competitive bidding at public auction.

Governing Law - RCRA

The primary federal law governing hazardous waste is the Resource Conservation and Recovery Act, passed in 1976.

ORS 281.240 Procedure for condemnation

The procedure in the suit, action or proceeding referred to in ORS 281.220 or 281.230 shall be, as far as applicable, the procedure prescribed by law for the condemnation of lands or rights of way by public corporations or quasi-public corporations for public use or for corporate purposes.

Working with Curved Boundaries

The process as described above will work effectively when describing a parcel of land whose boundaries all run along straight lines. However, where the property boundaries include curved lines, they surveyor must use a different measure. The surveyor must first measure the length of the arc of the curve. An "arc" is a portion of any curved line. In the above diagram, the "arc" is the portion of the curve running from A->C->B. The surveyor will also make reference in their description of the property using the "radius" and "chord" of the curve. To identify the radius, look at the curved line on a survey and imagine it continuing around to its beginning point until it forms a full circle. The "radius" is the distance from any point on the curve to the center of that imaginary circle. This is shown in the attached diagram as the line D->C. The chord is the line connecting the ends of the curve. In this diagram the chord is marked as the line A->D->B. In a legal description, the surveyor would describe a curved boundary using language similar to this: "thence run along said curve to the right having a chord bearing of South 32 degrees 1 minute East, a radius of 47 feet, and a central angle of 46 degrees 50 minutes for an arc distance of 35.17 feet to a point of tangency."

AARE (Accredited Auctioneer, Real Estate)

The professional designation awarded by the Auction Marketing Institute, Inc. to qualified real estate auctioneers who meet the educational and experiential requirements of the Institute and who adhere to a strict code of ethics and standards of practice.

ORS 312.200 Deed to county

The properties not redeemed within the two-year period prescribed by ORS 312.120 shall be deeded to the county by the tax collector. All rights of redemption, with respect to the real properties therein described, shall terminate on the execution of the deed to the county. No return or confirmation of the sale or deed to the county is required or necessary.

Your property tax statement

The property tax statement you receive in the fall is your value notice and property tax bill. It shows taxes imposed for the current tax year, July 1 through June 30. The tax you pay is the result of district tax rates applied to your property's assessed value. In addition, the bill may include other taxes, fees, charges or assessments depending on the districts providing services to your property. These other taxes, fees, charges, or assessments may not be based on the value of your property.

Criminal Stigma

The property was used in the ongoing commission of a crime. For example, a house may be stigmatized if it has been used as a chop shop, drug den, or brothel.

ORS 281.540 Acquisition of land adjoining road boundaries declared necessary

The purchase, acquisition, entering upon and appropriation of lands and property immediately adjoining the boundaries of roads, streets or highways, as defined and limited in, and to the extent authorized by, ORS 281.505 to 281.550 is declared to be necessary for the development and welfare of the state and its inhabitants and to be a public use.

ORS 93.650 Effect of Record or Certified Transcript in Evidence

The record of a conveyance duly recorded, or a transcript thereof certified by the county clerk in whose office it is recorded may be read in evidence in any court in the state, with the like effect as the original conveyance. However, the effect of such evidence may be rebutted by other competent testimony.

ORS 223.275 Notice to pay; receipts and entries on lien docket

The recorder of a local government shall, when installments and interest on any final assessment in the bond lien docket are due, make the proper extensions of the installments and interest on the bond lien docket and turn the same over to the treasurer of the local government. The treasurer then shall notify the property owner that the installments are due and payable, but a failure of any owner to receive the notice shall not prevent collection of the installment as provided in ORS 223.270. The treasurer shall issue a receipt to the person paying the installments and interest, and shall file duplicates of the receipts with the recorder. When the treasurer returns the bond lien docket, the recorder shall make the proper entries on the bond lien docket showing the amount of each payment and the date of the payment.

ORS 223.225 Record of application to be kept

The recorder of the local government shall: (1) Keep all applications filed under ORS 223.210 in convenient form for examination. The applications received for each local improvement shall be separate. (2) Enter in a book kept for that purpose, under separate heads for each local improvement, the date of filing of each application, the name of the applicant, a description of the property and the amount of the final assessment, as shown in the application.

ORS 87.050 Recording

The recording officer of each county shall record all notices and claims of lien required to be filed by the provisions of ORS 87.001 to 87.060 and 87.075 to 87.093 in the statutory lien record. The notices and claims recorded in the statutory lien record shall be indexed as deeds and other conveyances are required by law to be indexed and shall constitute a public record of the county.

ORS 87.372 Recording

The recording officer of the county shall record the notices filed under ORS 87.366 in a book kept for that purpose. The record shall be indexed in the same manner as the record of deeds and mortgages.

Dual Agency

The representation of opposing principals (buyer and seller) at the same time.

The Right of Control

The right of control is the official recognition that holder of this right is allowed to determine how the property is used. This mostly deals with the use of the property by parties other than the holder of the right. The holder of the right of control may determine that a piece of real property will only be used to grow wheat. Or the holder of this right may decide that a piece of real estate will be used to manufacture and distribute machine parts.

Eminent Domain and Condemnation

The right of government to take ownership of privately held real estate is called eminent domain. Land for schools, streets, parks, urban renewal, and other social and public purposes is obtained this way. Quasi-public organizations, such as utility companies and railroads, are also permitted by state and federal laws to obtain land for utility lines, pipes, and tracks.

The Right of Possession

The right of possession means that a party is officially allowed to occupy and exercise direct control over a piece of real property.

Right of Survivorship

The right of survivorship is something that is tied in with holding a title and has significant impact on the transfer of property. The right of survivorship allows the surviving member or members of a partnership that simultaneously held a title to a property to inherit the deceased member's interest (bundle of rights) in the property. The amount of interest in the property of each surviving member is increased equally when this right is invoked. The right of survivorship is often used to ensure that a living spouse retains control over the deceased spouse's interest in a property.

Zoning and Master Plans

The role of planning versus zoning became a major topic of land-use law in the 20th century. Which had priority: planning or zoning? Generally, it was assumed that comprehensive plans (also called master plans or general plans) had priority, and that land-use regulations were created to implement the plan.

Resident/General/Site Manager's Role

The role of the Resident/General/Site Manager is to supervise, coordinate, and manage all on-site activities. The "Manager" is responsible for maintenance schedules, responding to maintenance requests from residents, supervision of other employees and of vendors called to work at the site. They also will enforce the House Rules as a primary responsibility to ensure that residents' rights of quiet enjoyment of the property and quality of life are preserved. A report of their activities is provided on a regular (typically, monthly) basis to the Board of Directors and Managing Agent.

Vice President's Role

The role of the Vice President is to assume the duties and responsibilities of the President in the latter's absence.

Rules

The rules are the regulations of the condominium project and the operational rules of behavior. They are binding on each owner. The rules may include provisions for pets, parking, trash, noise, fencing, decks, patios, landscaping, exterior decorating and lighting, windows, doors, and skylights. The rules regulate the use of the common elements, the limited common elements, and the individual units. By and large, condominium documents do not subject the rule-making authority of the board to unit owner agreement or vote. Most often, however, the board is required to distribute to each unit owner a copy of any rules that it has adopted. These documents—the Declaration, bylaws, and rules—provide the structure of the legal entity called the Association and are referred to as the covenants, conditions, and restrictions or the CC&Rs or just CCRs.

State Ownership of Navigable Waterways

The rules controlling public use of the submerged and submersible land underlying state-owned waterways are simple. The Public Trust Doctrine gives everyone the right to use state-owned ("navigable") waterways (including submerged and submersible lands) for a wide variety of authorized uses including navigation, fisheries, recreation, and commerce.

Estate Sale

The sale of property left by a person at his or her death. An estate auction can involve the sale of personal and/or real property.

ORS 312.180 Possession during redemption period; forfeiture for waste

The sale of property to the county on foreclosure for delinquent taxes does not affect the former owner's right to possession of the property during the period of redemption. However, any waste of the property, committed by the former owner or by anyone acting under permission or control of the former owner, shall work a forfeiture to the county of the right to such possession and, in addition, shall be punished as provided in ORS 312.990.

Different Structures of a 1031 Exchange

The simplest type of 1031 Tax-Deferred Exchange is a simultaneous swap of one property for another. Deferred exchanges are more complex, but also more flexible. They allow disposal of property while acquiring one or more other like-kind replacement properties. The disposition of the relinquished property and subsequent acquisition of the replacement property must be mutually dependent parts of an integrated transaction constituting an exchange of property. Taxpayers engaging in deferred exchanges generally use exchange facilitators under exchange agreements.

Relationship to the Land

The status of a manufactured dwelling, as seen by the State of Oregon, is determined by its relationship to land. There are two possible relationships. The first is when the structure is unattached to land. This usually occurs from the time they are constructed until the home has been purchased or, once purchased, if the dwelling is placed on land that is owned by another and only available to the owner of the structure by way of a short-term lease or rental agreement. It can also apply at a later date if the building is resold but the land is not sold, such that the dwelling must either be moved or remain on land that is not owned by the occupants. When a manufactured dwelling is unattached to land, it is considered personal property unless an exemption is granted. It is still recorded by the county assessor and property taxes levied but only as personal property (a considerably lower tax rate than the rates that apply to real property). Once the dwelling is attached to land, it becomes real property and must be registered in the office of deeds.

Value notice

The tax statement you receive, mailed in late October, is also your value notice.

"Police Power"

The term "police power" relates to far more than the power of a police officer patrolling a neighborhood. It encompasses all powers of state and local governments to enact laws and regulations within the boundaries set forth in the U.S. Constitution. The term is based on the archaic (i.e., no longer used) definition: to "govern"; a meaning still intact when the term "to police" means to oversee operations to confirm that all rules, regulations, and policies are being followed. Police power, with regard to real estate, is defined as the constitutional authority of a state government, which is then delegated to local governments, to make rules regarding real property to promote the public order, health, welfare, safety, morals, and prosperity of society. Established by the Tenth Amendment to the U.S. Constitution (see above), "police power" forms the constitutional basis for adopting and enforcing regulations concerning land use. Examples of police power include zoning, eminent domain, building and safety codes, rent controls, and the like.

Livable, Rentable, and Usable Area

The total square footage of a building does not necessarily describe the amount of space that can actually be inhabited by the people residing in that building. There are some additional measurements that can give a clearer idea of the space available to the people who are using the building.

Definition of Condominium Space

The traditional form of homeownership involves a fee simple title to the land upon which the house stands. In contrast, each condominium purchaser acquires a fee simple ownership in the unit, together with an undivided tenancy in common interest with other unit owners in the common areas. The condominium owner, therefore, has exclusive ownership of the interior of the apartment or unit, or the apartment space. The term "apartment space" means just that. It is the space enclosed or bounded by certain, determined, vertical and horizontal boundaries. These boundaries are the interior surfaces of the perimeter walls, floor, and ceiling of the apartment that the apartment owner owns individually. Ownership also includes a fractional ownership in the common or general facilities, usually referred to as the common elements. The common elements are, basically, all areas of the property outside the individual apartment spaces. Individual owners share the expenses for these common areas and facilities, such as the maintenance of grounds and buildings, swimming pools, clubhouses, and other amenities.

Collusion

The unlawful practice whereby two or more people agree not to bid against one another so as to deflate value or when the auctioneer accepts a fictitious bid on behalf of the seller so as to manipulate or inflate the price of the property.

Other Foreclosures

There are also non-judicial foreclosure proceedings (sometimes called foreclosure by power of sale). This procedure does not require filing a lawsuit. It may not involve a state court judge either. Instead, the mortgage lender hires a person or company — called a trustee — which typically is a title company or an attorney, to hold a publicly noticed foreclosure sale. After the sale, the trustee issues a trustee's deed naming the purchaser at the sale as the new owner of record of the property.

Soil Classification

There are other soil taxonomies in wide use in the United States. The US Department of Agriculture (USDA), for example, uses a triangle to classify soil according to the relative presence or sand, clay, and silt. These soil classifications are used to determine how valuable farm land is. The National Resources Conservation Service (NRCS) categorizes soil into 12 different groups.

Types of Title Insurance

There are two general forms of title insurance. Loan policies benefit organizations that issue mortgage loans to purchasers of real estate. The policy protects both the validity, priority, and enforceability of the lender's lien on the property which, in turn, protects the lender's interest in the property. Loan policies are issued in the amount of the mortgage loan. As a result, the liability decreases as the loan is paid off. Depending on the mortgage loan and how much of the property's price was paid with the loan, a lender may require the purchase of a loan policy. Owner's policies are designed to protect property owners. These kinds of policies have many of the same coverages and exceptions as loan policies. Since owner policies do not affect lenders, they are an optional purchase intended to provide a greater degree of protection for the property owner.

ORS 305.785 Appropriation

There hereby is appropriated out of the moneys in the General Fund in the State Treasury, not otherwise appropriated, the amounts necessary to carry out ORS 305.770 to 305.785, not exceeding the amounts paid to and received by the State of Oregon, together with interest thereon as provided in ORS 305.775, under and by virtue of the law or laws, or parts thereof, declared to be invalid.

Land Trust

This is a legal agreement where a trustee is appointed to maintain ownership of a piece of real property for the benefit of another party: the beneficiary of the trust. In other words, an owner of real estate may create a trust wherein they are both the settlor and the beneficiary. Called a land trust, the landowner conveys their real property to a trustee, who in turn manages the property according to the beneficiary's (owner's) instructions. Since the beneficial interest created by the trust is considered personal property, the land trust effectively converts real property to personal property. A land trust cloaks a piece of land's true ownership, hiding behind the name of a bank's trust department. Land trusts are popular due to the simplified probate procedures available to a person who lives in one state and owns land in another.

Warranty

This is essentially the same as the liens/encumbrances section. The contract needs to explicitly lay out whether there is any warranty on the title concerning whether it is clear. If there is no warranty, then this needs to be made clear.

Napoleonic Code of 1804

This statute allowed individual ownership of individual floors within a building, and imposed joint responsibility for maintenance and repair of common parts of the building (exterior walls, gardens, etc.) on all individual owners collectively. As an odd side-note, this particular law did not consider stairways to be part of the "common area," but rather as appurtenances to the floor to which they give access, i.e., even though it would occupy space on the first floor, the stairway leading from the first to the second floor would actually be owned by, and be the responsibility of, the owner of the second floor. In contrast, until the destruction of large amounts of the available housing during World War II, many other European countries had specific laws prohibiting the division of a building for purposes of sale. In essence, these laws required transfer of property, not the space bounded within the property. However, the severe housing shortage after World War II necessitated a return to and modification of these laws.

Warranties Backed by the Builder

This warranty ensures performance of specified components of the home for specified periods of time. It covers integrity of the structure, materials, workmanship, and functionality of major systems such as heating, plumbing, electrical, and air conditioning. It is more common, however, for manufacturers of appliances — rather than builders — to provide appliance warranties.

Protecting Property Values

Thus, in spite of how it was stated in theory, zoning's real purpose was to protect single-family homeowners and their neighborhoods. In fact, zoning has been considered by most middle and upper income homeowners as a primary method for protecting home and property values. In a sense, planning follows zoning, and gives legitimacy to it. Planning may seem more legitimate, since it can consider the broad implications of social issues and ills, and appear to accommodate the concerns of all segments of society. Planning, however, is perceived as big on theory but short on practical application. It is zoning—the behind-the-scenes tool whose importance is largely overlooked—that a community ultimately relies on for protection. Zoning can be viewed as just one of the many tools a city has to deal with questions of land use and development, and to carry out the objectives of planning. Planning may determine capital expenditure projects and the location of public services and infrastructure, but it is zoning that defines the ultimate use of each particular piece of developed land. In areas where it was applied, zoning has, in many cases, been justified on the basis of its retention of property values. Zoning is a government program, however, so it should serve the needs of the larger community first. The stability resulting from zoning is not uniform throughout the community as a whole. It is important to note, however, that although zoning may help maintain property values in one area, it may cause property values to decline in another neighborhood.

Title Evidence

Title evidence, or evidence of a title, is a viable form of proof of ownership of a piece of property. Specifically, this is evidence that the person claiming to own a piece of property actually has a title that grants ownership of the property.

Title Insurance

Title insurance is a type of insurance policy drafted to protect parties with financial interests in a piece of property from losses associated with title defects or problems with the enforcement of liens against the property. A title insurance policy backs up a guarantee that the title to a property is clear of clouds or defects and that the title documentation accurately states who holds the title to the property. If a problem with the title should occur later — such as the discovery of a significant inaccuracy or a difficulty enforcing a lien — then the insuring company will cover some or all of the losses taken by the policyholder.

Why would a lender require a borrower to obtain title insurance when obtaining a mortgage? -No lender requires a borrower to obtain title insurance; it is always optional to a buyer -Title insurance is vital in the event of a foreclosure for a lender to recover any losses associated with a sale for less than the amount of indebtedness, legal fees, etc. -Title insurance prevents an error from the title company creating later problems with a lien (any lien placed on a property without a clear title or a title with unknown encumbrances would not be easily enforced in the event of a default) -The lender needs to know if either the seller or buyer already has an outstanding mortgage on the property

Title insurance prevents an error from the title company creating later problems with a lien (any lien placed on a property without a clear title or a title with unknown encumbrances would not be easily enforced in the event of a default)

Exemption as Real Property

To exempt a manufactured home, one must have the home placed on a plot of land and the same entity must own both the land and the home. It can also be classified as exempt if the owner of the building has a 20-year lease on the land or park space on which the building stands. The primary advantage of having the home classified as real property is for the purposes of obtaining financing. Mortgages are loans that use the real property as collateral. Land that has not been developed requires an expenditure of time, work, and money in order to put it to use. Since one cannot simply step onto the land and begin deriving utility, financing institutions do not like to make loans on undeveloped land, often requiring a higher down payment. Furthermore, the fact that the land has not yet been developed means that the current value of the land is much lower. This means that it can be extremely difficult to obtain financing to purchase land and a mobile home if the home is considered personal property. By registering the manufactured dwelling as real property, the buyer can now add it to the value of the real property thus qualifying for a larger loan, and the property can be used immediately (since there will be a home on it) thus allowing the bank to sell it more easily and have it more readily serve as collateral.

Topography

Topography is the study of the earth's surface shapes and features. Specifically, it involves the recording of relief or terrain, the three-dimensional quality of the surface, and the identification of specific landforms. They show hills, valleys, slopes, and water runoff. In general, topography aims to determine the position of any point in terms of both a horizontal coordinate system (such as longitude and latitude) and altitude. Contour maps (a type of topographic map) indicate elevations by connecting all points having the same elevation with lines.

Transfer Tax

Transfer taxes are levied by most states on the transfers of property from one person to another. This was voluntarily done by many states to replace the federal documentary tax program that ended in 1968. The state of Oregon does not impose transfer taxes. In fact, in 2012 Oregon voters approved measure 79 which is an amendment to the Oregon constitution that prohibits real estate transfer taxes imposed by state and local governments. Washington County, Oregon does impose a transfer tax. This tax is 0.1% of the sale price and does not apply to sales whose value is less than $14,000.

Trespass

Trespass occurs when there is a "physical invasion" of the plaintiff's land and the plaintiff loses use of the land as a result. The courts have held that intrusion by noise, gasses, dust, or fumes are not sufficient for a cause of trespass. These rise only to the level of nuisance. For trespass to occur there must be a physical and tangible object. For example, an individual who modifies a stream on their property that then creates flooding on a neighbor's land would be an example of trespass. The waters have "invaded" the neighbor's property in a substantial way (i.e., a physical and tangible way).

Land-use control is a term that broadly describes any legal restrictions controlling how a piece of land may be used. True False

True

True or False: Cement can treat a range of hazardous wastes by improving physical characteristics and decreasing the toxicity and transmission of contaminants. False; cement is incapable of decreasing toxicity True

True

True or False: If it is not recorded, a deed, mortgage, or other instrument (i.e., document) affecting real property is not effective as far as subsequent buyers and lenders (without actual notice) are concerned. True False

True

True or False: ORS 92.205 (The policy for undeveloped subdivisions) was created because the Legislature found that many subdivisions for which plats have been approved and recorded had not been developed. True False

True

This building type is constructed of concrete and protected steel: Type 3: Ordinary Type-1: Fire-Resistive Type 2: Non-Combustible both Type 4: Heavy Timber and Type 5: Wood-Framed

Type-1: Fire-Resistive

Universal Wastes

Universal wastes are a special category of hazardous wastes in the U.S. that generally pose a lower threat to public health in comparison to other hazardous wastes. Universal wastes are found across the country and produced in large quantities by numerous "generators." Examples of universal wastes include items such as: fluorescent light bulbs, some specialty batteries, cathode ray tubes, electronics, used oil, and devices containing mercury (such as thermometers).

ORS 93.600 Description of Real Property for Purposes of Recordation

Unless otherwise prescribed by law, real property shall be described for recordation by giving the subdivision according to the United States survey when coincident with the boundaries thereof, or by lots, blocks and addition names, or by partition plat recording and parcel numbers, or by giving the boundaries thereof by metes and bounds, or by reference to the book and page, document number or fee number of any public record of the county where the description may be found or in such other manner as to cause the description to be capable of being made certain. However, description by tax lot number shall not be adequate. Initial letters, abbreviations, figures, fractions and exponents, to designate the township, range, section or part of a section, or the number of any lot or block or part thereof, or any distance, course, bearing or direction, may be employed in any such description of real property.

ORS 93.780 Recordation of Master Form Instrument

Upon request of any person and on tender of the required fee, the county clerk shall record a master form instrument in the name of the person causing it to be recorded.

ORS 98.160 Inventory and order to sell

Upon the delivery to the justice of the peace of the affidavit as provided in ORS 98.150 (Affidavit by custodian when no response to notice), the justice shall cause the property to be examined in the presence of the justice, and a true inventory thereof to be made. The justice shall annex to such inventory an order under the hand of the justice that the property therein described be sold at public auction by any constable of the constable district where the property is located, or if there is no constable, then by the county sheriff.

Usable Area

Usable area is the portion of a rented space that will be used exclusively by a particular tenant. If a tenant is renting out half of a floor of a building, the usable space is the part of the floor that only that tenant uses. Like livable area, the usable area includes interior walls, small storage spaces, and restrooms. However, only the storage spaces and restrooms exclusively used by that tenant are included in usable area. Usable area specifically excludes any communal space shared with other tenants in the same building.

Existence of an Agreement

Was there an agreement in the purchase contract that defines which items were included in the transfer of the property? Any attached objects identified by this kind of agreement will usually be classified as fixtures. A seller can clarify in advance and in writing to a broker documenting "exclusions to the listing" on the listing agreement, exactly which items the seller considers personal property (and will remove from the property), and what the seller does not consider personal property (and thus transfers to the buyer).

Waste

Waste is a common law concept similar to trespass in that it involves physical damage to land. In a trespass case, the damage is caused by an external party. In a claim of waste, the damage is committed by a tenant to property leased or rented from a landlord. In this case, the tenant is the actual offending party, and the landlord would be the plaintiff.

Characteristics of Hazardous Waste

Waste is classified as "hazardous waste" if it has one of four hazardous characteristics: Ignitability Corrosivity Reactivity Toxicity Ignitability refers to materials that catch fire easily such as waste fuels or solvents. Corrosive wastes include only liquids, never solids, and are defined by their pH (less than or equal to two, or greater than or equal to 12.5) and include many forms of both acids and bases. Reactivity is a term that is vague in its technical application but refers to materials that are unstable and which may detonate under specific conditions. Toxicity refers to materials that contain or may leach toxic substances into the environment.

Land Rights

We often think of land as the surface of the earth. But in the context of real property, land starts at the center of the earth, goes up to the surface, and continues out into space. This is an important concept because one person may own the rights to use a property's surface (surface rights), another may own the rights to drill or dig below the surface (subsurface rights), and a third may own rights to use the airspace above (air rights).

Wetlands

Wetlands are commonly referred to as bogs, swamps, or marshes. Not all wetlands fit the "cattails and standing water" image. Oregon's wetlands are as varied as its landscape. They range from tidal salt marshes along the coast, to seasonal prairie wetlands in the valleys, to mossy fens in the mountains.

ORS 88.090 Judgment when debt payable in installments

When a suit is commenced to foreclose a lien securing a debt payable in installments, either of interest or principal, and any of such installments is not then due, the court shall enter a judgment for the foreclosure of the lien, and may also include in the judgment a requirement that the property be sold for the satisfaction of the whole debt, or so much thereof as may be necessary to satisfy the installment then due, with costs of suit. In the latter case, the judgment of foreclosure as to the remainder of the property may be enforced by an order of sale, in whole or in part, whenever default occurs in the payment of the installments not then due.

Escrow and Closing Costs

When a title is transferred, ownership changes hands of numerous elements related to the property, some of which has attendant costs. There are, as well, additional costs associated with finalizing the transfer of a title, including local and (possibly) state taxes.

ORS 92.177 Creation of parcel by less than all owners of lawfully established unit of land

When a unit of land was sold before January 1, 2007, but was not a lawfully established unit of land, the governing body of the city or county or its designee shall consider and may approve an application for the creation of a parcel pursuant to ORS 92.176, notwithstanding that less than all of the owners of the existing lawfully established unit of land have applied for the approval.

ORS 92.415 Advance of travel expense for examination of subdivision or series partition

When an examination is to be made of subdivided or series partitioned lands situated in the State of Oregon, or of subdivided lands situated outside the state which will be offered for sale or lease within this state, the Real Estate Commissioner, in addition to the filing fee provided in ORS 92.355, may require the subdivider or series partitioner to advance payment of an amount estimated by the commissioner to be the expense incurred in going to and returning from the location of the project, and an amount estimated to be necessary to cover the additional expense of such examination, subject to prior approval of the Oregon Department of Administrative Services and a report to the Emergency Board prior to adopting the fee and shall be within the budget authorized by the Legislative Assembly as that budget may be modified by the Emergency Board. The amounts estimated by the commissioner, under this section shall be based upon any applicable limits established and regulated by the Oregon Department of Administrative Services under ORS 292.220.

A Basic Understanding

When dealing with a client who is planning new construction on a property, an agent must be prepared to explain the basic facts and requirements for the region in which they live. Although building codes are uniform in Oregon (and licensing of professional contractors is done by the state), local municipalities generally create and establish their own ordinances regarding permits, variances, etc., and are responsible for enforcing codes and regulations. The agent will, again, have to possess at least a passing or "basic" understanding of the requirements and procedures in the regions where they operate. To satisfy an agent's obligation to perform "due diligence" within the context of any transaction to which they are a party, it is advisable to establish a relationship with local licensed contractors or other professionals to whom the agent can turn with regard to building code issues or similar questions that are beyond the real estate agent's expertise.

Recent Ballot Initiatives on Land Use in Oregon

When discussing land use in Oregon, it is vital that we mention two recent (and contentious) land use changes: the passage of Measures 37 and 49.

ORS 88.050 Judgment foreclosing more than one lien on same property

When it is adjudged that any of the defendants have a lien upon the property, the court shall make a like judgment in relation thereto, and the debt secured thereby, as if such defendant were a plaintiff in the suit. When a judgment is given foreclosing two or more liens upon the same property or any portion thereof in favor of different persons not united in interest, the judgment shall specify the order, according to their priority, in which the debts secured by such liens shall be satisfied out of the proceeds of the sale of the property.

ORS 91.230 Farm tenant's right to emblements

When the leasing or occupation is for the purpose of farming or agriculture, the tenant or person in possession shall, after the termination of the lease or occupancy, have free access to the premises to cultivate and harvest or gather any crop or produce of the soil planted or sown by the tenant or person in possession before the service of notice to quit.

Public Stigma

When the stigma is known to a wide selection of the population and any reasonable person can be expected to know of it. Famous examples include the Amityville Horror house or a home previously owned by the actor Brad Pitt. This kind of stigma can result in site seers and other individuals coming to "see the famous house."

Obligations/Responsibilities of Parties

When transferring a title, there may be cases where one party agrees to perform an action. For instance, a seller may agree to have the walls painted before the buyer moves in. Any and all actions required by the contract must be laid out in the deed. Otherwise these requirements will not be legally enforceable.

Acts of the State

When we discuss "Acts of the State," we are really talking about a state exercising its police powers to regulate citizens and activities within its boundaries. This power is "comprehensive," meaning all inclusive, and is limited only by those limits set forth in either Federal or State Constitutions. All laws governing the conduct of real estate professionals are expressions of this power of the state.

Bundle of Rights

When we talk about the "bundle of rights," we are looking at the property rights held by individuals when they own or rent real estate.

Like-Kind Exchanges (I.R.C. 1031 Exchanges)

Whenever selling business or investment property for a gain (meaning, it was sold for more than was paid for it), there generally will be a tax on the gain (called a capital gain) at the time of sale. For instance, if an investor bought a property for $500,000, then sold it later for $600,000, they would be taxed on $100,000 worth of capital gains. Capital gains tax rates vary from state to state. Internal Revenue Code Section 1031 provides an exception called a Section 1031 Exchange (or simply 1031 Exchange). 1031 Exchanges allow postponement of paying capital gains tax if the gains are reinvested into similar property as part of a qualifying like-kind exchange. Like-kind properties are any two assets or properties that are considered to be the same type (e.g. two pieces of residential real estate). There is no requirement for the two properties to be of the same quality. In a 1031 Tax-Deferred Exchange, a piece of land may be exchanged for another piece of land, but exchanging a piece of land for a car, for example, is not a like-kind exchange and you could be subject to capital gains tax. A like-kind exchange may consist exclusively of another like-kind property, or it can be a combination of a like-kind property along with cash, liabilities, and property that is not like-kind. If, however, the seller receives cash, debt relief, or property that is not like-kind, it may trigger some taxable gain in the year of the exchange. There can be both postponed and recognized gain in the same transaction when a taxpayer exchanges for like-kind property of lesser value.

ORS 312.240 Vacation of judgment; determining value of improvements by purchaser and rendering judgment therefor

Whenever the court vacates or sets aside a judgment of foreclosure with respect to any particular property, the court shall determine the value of any improvements placed on the property by the county or by any purchaser from the county, and shall give judgment therefor and collect the same from the claimant before putting the claimant in possession.

ORS 281.220 Determination of necessity; suit by Attorney General

Whenever the state requires property for any public use, the necessity for the acquisition to be decided and declared in the first instance by the board, if the board and the owner of such property cannot agree upon the price to be paid for the amount of or interest in the property required for such public use, and the damages for the taking thereof, the board may request the Attorney General to, and the Attorney General shall when so requested, commence and prosecute in any court of competent jurisdiction in the name of the State of Oregon any necessary or appropriate suit, action or proceeding for the condemnation of the amount of or interest in the property required for such purposes and for the assessment of the damages for the taking thereof.

ORS 312.160 Lienholder paying taxes or redeeming gets additional lien for amount paid

Where any property included in a foreclosure list or proceeding is removed therefrom by payment of taxes or by redemption on the part of a mortgagee or other lienholder of record, the official receipt for payment of such taxes or redemption money shall constitute an additional lien on the property to the amount specified in the receipt. The amount so paid, with interest and other lawful charges thereon, shall be collectible with and in the same manner as the amount secured by the original mortgage or lien.

ORS 305.605 Application of tax laws within federal areas in state

Where not inconsistent with the Constitution and laws of the United States, notwithstanding any provision of any other statute of this state, the laws of this state relating to the imposition and collection of taxes shall apply with respect to any property located, any sale, use or transaction occurring, any income arising, or any person residing within any federal area situated within the exterior boundaries of this state. [Formerly 306.240]

Slow Acceptance of Master Plans

While it is logical to have zoning regulations follow master plans, that is not how it happened in practice — at least not at first. In most communities, the public regarded master plans as government imposing its will on private property owners while zoning was seen as a tool for protecting private property rights and preserving property values. It is no coincidence that the concept of zoning came into being at the same time suburban areas were first being developed. The construction of interurban transit lines and the development of the automobile allowed middle and upper class residents to leave the density and congestion of central urban areas and buy a house on a larger lot just outside the urban fringe. These homeowners, who felt they had "escaped" the trials of inner city living, grew concerned that the problems of the city would follow them into their new suburban environments. To keep this from happening, suburban residents wanted protective regulations. Zoning provided the perfect vehicle for this protection.

ORS 92.395 Waiver of examination in this state; notice to subdivider or series partitioner

With respect to any subdivision or series partition within this state, if, after examination of the preliminary notice of intention required by ORS 92.345 or the reply to the Real Estate Commissioner's request for further information, the commissioner concludes that the sale or lease of any portion of such subdivision or series partition would be reasonably certain not to involve any misrepresentation, deceit or fraud, the commissioner shall waive all of the provisions of ORS 92.305 to 92.495, except ORS 92.475 to 92.495 and 92.990 (2), which the commissioner considers unnecessary for the protection of the public from fraud, deceit or misrepresentation. The commissioner shall notify the subdivider or series partitioner within 15 days of receipt of the preliminary notice of intention of the approval or disapproval of any waiver. However, the commissioner may, for good and sufficient cause, revoke any waiver at any time upon 10 days' notice and a hearing held for such purpose.

Lien Priority

With the exception of federal tax liens, the priority of liens is established by local law. However, the "perfection" of a lien can affect the priority of a lien. A lien is perfected when extra steps have been taken to ensure that it is recorded by an appropriate public agency. This gives the lien greater weight and often greater priority over liens that have not been perfected. Perfecting a lien involves filing the lien with the recording office. Often, a lien that has not been perfected is not enforceable. There are a wide variety of different types of liens and these liens all have their own priority. We will talk about the different priority of liens here, but it is not always as simple as looking at a list. If you are working with a property owner who has multiple liens on the property then you may want to contact a lawyer who can help walk you through which liens are superior.

ORS 305.200 Witness fees and mileage

Witnesses testifying before the Department of Revenue at its request and on its behalf shall be allowed the fees and mileage provided for witnesses in ORS 44.415 (2). The fees and mileage shall be paid by warrant upon the State Treasurer upon the certificate of the Director of the Department of Revenue. However, any county or state officer shall receive the actual necessary traveling expenses of the county or state officer only. No tender of witness fees or mileage in advance shall be necessary.

Units of Measure

Working with legal descriptions of property, you will occasionally come across archaic or rarely used terms for measuring land.

Immobility

You cannot move a parcel of land. Yes, it is true that soil, sand, gravel, and minerals can be moved by nature (from erosion) or man (by digging). Despite those actions, however, the parcel is still physically located in the same geographical position on the globe. Because land is immobile, a person must go to land-land cannot be brought to a person. When land is sold, the buyer must travel to that parcel of land; the land cannot be delivered to the buyer. For example, no part of Oregon's land may be moved to California, and no one can bring Japan to Europe. Instead, when land is sold, the seller gives the buyer a document called a deed that transfers to the buyer the land and the right to use it.

Tax payment

You must pay at least one-third of your property tax by November 15 to avoid an interest charge. Additional one-third payments must be made by February 15 and May 15. If you pay the full amount due by November 15, you receive a 3% discount. If you pay two-thirds of the full amount by November 15, you receive a 2% discount on the amount of tax paid. No other discounts are allowed. You will be charged interest for any payment made after its due date. Interest is charged at the rate of 1.33% per month, or 16% annually, on any installment not paid when due. Installment payments are not allowed when your total tax bill is less than $40.

A fee simple defeasible is...

a conveyance of property with conditions placed on it. The holder of a fee simple defeasible possesses the property until the condition is violated or not met. If that happens, the property reverts back to the original grantor or is then conveyed to a specified third party.

Among other documents, when a declarant submits an application for approval of the conversion of a mobile home park to a planned community subdivision of manufactured dwellings pursuant to ORS 92.830 to 92.845, the declarant shall give each tenant... -a plat executed by the declarant. -a copy of any notice given by the local government to neighboring property owners regarding the application. -None of these are correct -a Class C misdemeanor violation.

a copy of any notice given by the local government to neighboring property owners regarding the application.

All of the following documents and information shall be submitted to the Real Estate Commissioner, EXCEPT: a copy of the proposed or recorded declaration or supplemental declaration of condominium ownership a copy of the full size plat a copy of the Code of ethics and Standards of Practice of the National Association of Realtors a copy of the proposed or recorded bylaws

a copy of the Code of ethics and Standards of Practice of the National Association of Realtors

Every time a property title is transferred: the property reverts to the state a new lease is written a new real estate deed must be drafted an attorney specializing in real estate transactions is required to be consulted

a new real estate deed must be drafted

A fixture is...

a physical object that has been attached to a piece of land or other structure so that the object is now legally considered real property. Fixtures have a hybrid nature, because they were once personal property, but are transformed into real property. Disputes can arise when determining if an object is a fixture.

A declaration of a right to survivorship creates __________ in the life estate with cross-contingent remainders in the fee simple a joint venture partnership community property a tenancy in common an inter vivos trust

a tenancy in common

A person can place a lien upon a mine or an improvement in order to secure payment for labor performed or materials furnished if that person: -performs labor in transporting materials or the mine's product from the mine or improvement -performs labor upon or furnishes provisions or materials for the development, working, or operation of the mine, improvement or excavation -all of these -performs labor or furnishes materials in transporting materials or provisions for the use, working or development of the mine

all of these

Among other considerations in adverse possession, the possession of the property has to be: open continuous hostile all of these

all of these

The building materials used in the construction of these elements are the foundation for classification: structural frame all of these exterior nonbearing walls and partitions roof construction, including supporting beams and joists

all of these

When the need arises to make local municipal improvements (e.g. street paving, installation of storm drains), the funding for those projects comes out of special assessments on property. The area benefiting from the project paid for by the special assessment is called...

an improvement district or assessment district.

Emblements are: -impediments to the free and clear ownership and use of property -fixtures -annual cultivated crops, such as vineyards, fruit orchards, hay fields, and vegetables, that require labor and are planted each year.

annual cultivated crops, such as vineyards, fruit orchards, hay fields, and vegetables, that require labor and are planted each year.

The Oregon Subdivision and Partition Law does not apply to the sale or leasing of... apartments or similar space within an apartment building. -subdivided lands. -subdivided lands falling within designated residential zones. -any parcel of land or structure defined as a common interest property.

apartments or similar space within an apartment building.

The four fundamental provisions of Oregon's Water Code are: metes and bounds, subservience, right of way, and eminent domain beneficial purpose without waste, priority, appurtenancy, and must be used water table; percolating water; littoral rights; and want not, waste not doctrine of capture, chronology, embellishment, and non-use

beneficial purpose without waste, priority, appurtenancy, and must be used

In a trust deed, the property is deeded by the title holder to a trustee which holds the title in trust for the: malefactor escrow officer county clerk beneficiary

beneficiary

One core element of CC&Rs is that they...

can only be created by agreement, and CC&Rs that last more than one year must be put into writing (as we discussed in some related areas). A review of CC&Rs is typically part of a real estate sale. Property owners in a neighborhood, for example, may enter into CC&Rs restricting the involved parties from subdividing their land. All of the affected owners need to have expressly agreed to the CC&Rs for it to be binding. They are, however, legally binding, so if one of the property owners signed the CC&Rs but subdivided their property anyway, in spite of a prohibition from subdividing, the other property owners could sue for breach of contract and seek monetary damages or other remedies.

An abstract of title is the documentation of the: title company's history of escrow officers Torrens Certificate attorney's written opinion chain of title

chain of title

Under the construction lien law, anyone who constructs improvements on property, supplies materials, rents equipment, or provides services for improvements has a right to... collect payment from the federal government if they are not paid. collect payment from the property if they are not paid. place an equitable servitude on the property until the debt is paid. an easement by implication until the debt is paid.

collect payment from the property if they are not paid.

In the context of condominiums, another term for a monthly homeowner assessment is called a... apartment fee. multi-unit dwelling tax. property tax. condo fee.

condo fee.

Common interest ownership entails several types of homeownership:

condominiums, cooperatives, planned unit developments, and timeshares.

Mortgages are a common type of __________ lien. low-priority statutory consensual judgment

consensual

During the contamination life cycle, the impact of contamination on property values is greatest at the time of... pre-contamination. discovery and identification. contamination deterioration. remedial cleanup.

contamination deterioration.???? NOT SURE

Accessibility is best defined as a customer's ability to enter a property or reach: plumbing, electrical, and security systems booths, bars, display cases, and lights desired goods, services, activities, and destinations air, surface, and subsurface rights

desired goods, services, activities, and destinations

An inter vivos trust takes effect: during the life of its creator after death when the landowner conveys his real property to a trustee when there is an unauthorized intrusion of a building or other improvement upon the land of another

during the life of its creator

An __________ is an easement that is established without the permission of a landowner or the existence of a situation that requires an easement. easement by implication easement by necessity easement by prescription express easement

easement by prescription

It has been determined that ____________________ are non-threatening to Oregon's coastal wetlands. -developments and pollution -erosion and freshwater input -channelization and non-native species -earthquakes and sea level rise

erosion and freshwater input

Finally, Condo board leaders have the right to:

expect owners to meet their financial obligations, count on residents to know and comply with the rules and regulations, expect residents to be respectful and honest, receive support and constructive input from owners, require owners to conduct themselves in a courteous manner at meetings, and have personal privacy at home and during leisure time in the community.

Unless expressly modified, a timeshare estate is an estate in real property and has the character and incidents of a tenancy at sufferance. true false

false

Determination of real market value of a unit based upon a leasehold estate shall be the same as a unit in: fee simple subject to condition subsequent fee simple upon condition precedent fee simple determinable estate fee simple

fee simple

There are two types of fee simple estates:

fee simple absolute and fee simple defeasible.

Oregon's Bancroft Bonding Act is a means to: create 1031 tax-deferred exchanges accelerate the payment schedule of local improvements finance local improvements

finance local improvements

Except as provided in subsection (2) of ORS 215.780, the following minimum lot or parcel sizes apply to all counties, EXCEPT: for land zoned for exclusive farm use and designated rangeland, at least 160 acres for land designated forestland, at least 320 acres for land zoned for exclusive farm use and not designated rangeland, at least 80 acres for land designated forestland, at least 80 acres

for land designated forestland, at least 320 acres

Except as otherwise provided by law, a lien upon real or personal property, other than that of a judgment, whether created by mortgage or otherwise, must be __________, and the property adjudged to be sold to satisfy the debt the lien secures, by bringing suit. maintained foreclosed syndicated transferred

foreclosed

There are three physical characteristics that distinguish land from any other commodity:

immobility, indestructibility, and nonhomogeneity.

An encumbrance is any __________ to owning a clear property title. advantage assistance benefit impediment

impediment

A subdivider shall by a "Notice of Intention" notify the Real Estate Commissioner in writing of the intention to sell or lease subdivided lands located __________ this state. outside inside or outside inside

inside or outside

In an exclusive farm use zone, forest zone or a mixed farm and forest zone that allows residential uses, the following standards apply to the home occupation: -it may unreasonably interfere with other uses permitted in the zone in which the property is located -it may be operated by persons other than the resident or employee of the resident of the property on which the business is located -it shall employ on the site no more than five full-time or part-time persons -it may operate substantially outside of the designated property

it shall employ on the site no more than five full-time or part-time persons

Property is taxed on...

its assessed value. A property's assessed value is the lower of its real market value or its maximum assessed value. Each year, the county assessor determines the property's real market value and calculates its maximum assessed value. You are taxed on the lesser of the two, which is called the assessed value.

A comprehensive plan should include... land use, public facilities, and circulation elements. an examination of all easements and encumbrances within city limits. property tax and interest deductions. a chain of title search for all properties within affected zones.

land use, public facilities, and circulation elements.

Forms of ownership by business organizations include: limited liability companies, corporations, and partnerships tenants in common, joint tenants, tenants by entirety, and community property easements, deed restrictions, liens, leases, and encroachments estate for years, at will estates, periodic estates, and at sufferance estates

limited liability companies, corporations, and partnerships

Another term for situs is.. buildability. improvements. investment permanence. location preference.

location preference.

Per ORS 197.485, a jurisdiction may not prohibit placement of a __________, due solely to its age, in a mobile home or manufactured dwelling park in a zone with a residential density of eight to 12 units per acre. manufactured dwelling survey monument judgment lien primary mortgage

manufactured dwelling

"Metes" comes from the word for: calling monumenting bounding measuring

measuring

At any point where the boundary line changes direction, a(n) __________ is placed and a call for the just-completed line is recorded. monument deed arc radius

monument

According to Oregon state law, the following is an acceptable reason to refuse to rent a property to a specific tenant: the tenant has won an eviction case brought by a former landlord none of these claiming to be Mormon or Muslim race, color, national origin

none of these

The fact that no two parcels of land are exactly alike is defined as... homogeneity. soil. immobility. nonhomogeneity.

nonhomogeneity.

A general term for properties involving an approved survey map and plans that describe each lot or unit and that are recorded with the county. condominium subdivision platted metes and bounds

platted

Covenants

real covenant, restrictive covenant, or simply covenant, is a contractual agreement and is usually written into the document that grants the title. This kind of agreement restricts or controls the use of a property or properties by the affected properties' owners. One of the main elements of a covenant is that it is a promise and can only be created by agreement. A covenant that lasts more than a year must be set down in writing. The other major thing that defines a covenant is that it is a contractual agreement. If the covenant is breached, a party involved in the covenant can sue for monetary damages. Beyond that, a covenant is very similar to a negative easement. For example, the property owners in a neighborhood may enter into a covenant that restricts the involved parties from subdividing their lands. All of the affected owners need to have expressly agreed to the covenant for it to be binding. If one of the property owners who is party to the covenant decides to subdivide her property anyway, the other property owners could sue for breach of contract and seek monetary damages. A covenant usually applies to the current owners, and thus expires when the property is transferred to a new owner. It is possible, however, to have a covenant that affects subsequent owners. This is referred to as a covenant that "runs with the land." For the covenant to persist past a transfer of title, all of the following conditions must be met: The covenant must be in writing. The original parties had to have intended it to "run with the land". The covenant has to have a connection to the landowner status of the parties. There has to be "horizontal privity" (a contractual agreement between the parties relating to the servient land or lands). Any party or parties that the land or lands are transferred to have to have had reasonable notice that the covenant exists.

Unfortunately, there is little agreement on how "diminution in value" should be calculated. Factors used include:

remedial costs (costs of correction or cleanup), lost income, lost rental income, marketability effect, increased marketing period for "frozen" assets, and diminution as a result of uncertainties.

There are generally four economic characteristics of land:

scarcity, modification, fixity, and situs.

A plat of the land described in the declaration or a supplemental plat described in a supplemental shall be recorded _______________ the declaration or supplemental declaration. within 60 days of simultaneously with within 30 days of within 90 days of

simultaneously with

The Oregon land use system does a good job of limiting __________ outside urban growth boundaries. hazardous waste sprawl HOA management roles manufactured dwellings

sprawl

Taxes on the transfer of a deceased person's property is called a: state estate tax state income tax property tax transfer tax

state estate tax

The first step in escrow procedures is: the escrow officer transfers funds to the seller the buyer transfers funds to the escrow officer the buyer accepts the property deed the buyer and seller mutually agree on terms of purchase

the buyer and seller mutually agree on terms of purchase

The following is a material fact of a home, and therefore required by law to be reported on a seller's property disclosure statement: the home is insulated with asbestos a former tenant was diagnosed with HIV illicit drugs were manufactured on a neighboring property a registered sex offender lives within 100 yards of the property

the home is insulated with asbestos

A property's assessed value is: -the lower of its real market value or its maximum assessed value -10% of changes in property value as a result of new property or new improvements to the property -one-third of its property tax -the higher of its real market value or its maximum assessed value

the lower of its real market value or its maximum assessed value

The Oregon Department of Revenue shall maintain its principle offices in: Portland, Oregon the state capital each seat of county government Washington D.C.

the state capital

Except as otherwise provided by law, real property within this state is subject to foreclosure for delinquent taxes whenever __________ years have elapsed from the earliest date of delinquency of taxes levied and charged thereon. five ten three fifteen

three

A six-mile-square area of land containing 36 sections which is numbered according to its position either north or south of the base line. range section aliquot town

town

In a __________, multiple physical houses are combined into a single architectural building. townhouse complex detached house rowhouse community

townhouse complex

According to ORS 408.395 (Condemnation of property for Oregon Veterans' Home), Oregon Veterans' Homes are subject to the governing body's eminent domain and condemnation laws. true false

true

According to ORS 87.023 (Notice of right to lien), even if you or your mortgage lender have made full payment to the contractor who ordered these materials or services, your property may still be subject to a lien unless the supplier providing this notice is paid. true false

true

High-value farmland is land in a tract composed predominantly of soils that, at the time the siting of a dwelling is approved for the tract, are (a) irrigated and classified prime, unique, Class I or Class II; or (b) not irrigated and classified prime, unique, Class I or Class II. true false

true

It is from the estate in severalty that all other tenancies are created. false true

true

The owner of a condemned property is offered an appraised, fair market value for the property being seized; this offer may be disputed in court. true false

true

A commercial general contractor level 1 or level 2 that constructs a new large commercial structure shall provide the owner with a __________ warranty of the building envelope and penetration components against defects in materials and workmanship. one-year 10-year 30-year two-year

two-year

Property taxes are based on the: homeowner's credit rating value of a home homeowner's net worth right of survivorship

value of a home

The main feature of a(n) __________ is that the grantor guarantees that the title has no defects or clouds on it. quitclaim deed deed of trust enfeoffment warranty deed

warranty deed

A fee simple absolute is...

what we typically think of when someone owns something. It is the largest and most complete bundle of rights one can hold in land: if property is solely owned in one party's name, they own all the rights to that property. The interest is absolute because the interest will not end on the occurrence of an event or condition. The rights can be held by a person and their heirs forever, though it must be conveyed in some manner such as by a will or trust.