Selling Community

Bill Miner: Question and Answers When Selling a Community In Oregon (Second of Two Parts)


Q: What happens after I give them the financial information?


A: The tenants committee must (1) form a corporate entity that is legally capable of purchasing property or associate with a nonprofit corporation or housing authority that is legally capable of purchasing real property or that is advising the tenants about purchasing the park in which the tenants reside; and (2) submit a written offer to purchase the park, in the form of a proposed purchase and sale agreement, and either a copy of the articles of incorporation of the newly formed entity .

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