Selling Community

Notice This! The Most Important Oregon Statutes Affecting Park Owners Right Now!

 

Did you know Oregon law requires you as a park owner to give notice to residents when you intend to sell your park?

 

Did you know that many owners are not completing this legal obligation properly…and some are being sued for it?

 

In 2015, the Oregon legislature changed the law in a few very important ways, but notification of our increased legal responsibility has been nonexistent -- save for park landlord training like that offered at MHCO. 

 

 

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 .

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

 

Over the past several months I have received many requests from clients who are thinking of selling their community. Here are a few questions that have been asked and my answers (First of Two Parts):

 

Q:           If I am thinking of selling my park, when do I have to send notice to my tenants?