Park-Owned Homes

Disclaimer: This Q&A is provided for general informational purposes only and is not legal advice. It reflects the author's opinion based on the facts presented and Oregon law as of the date of publication; statutes and their interpretation are subject to change. Reading this article does not create an attorney‑client relationship.

Answer:  Below is the relevant statute. Note it is NOT found in the landlord-tenant law (ORS Chapter 90), so many managers don’t see them; they are found in ORS Chapter 91.

Answer: That is a good question. First, to be clear for our readers, a "security agreement" is any agreement that serves as "security" on the property. For example, a trust deed is recorded on real property, and secures the promissory note. If the note is not paid, the holder can turn to the security, and sell it to satisfy the unpaid indebtedness.

Answer: That is a good question. First, to be clear for our readers, a "security agreement" is any agreement that serves as "security" on the property. For example, a trust deed is recorded on real property, and secures the promissory note. If the note is not paid, the holder can turn to the security, and sell it to satisfy the unpaid indebtedness.

Answer. Oregon law requires that unless exempted, an individual must use a "mortgage loan originator" ("MLO") [e.g. mortgage bankers or mortgage brokers] license if he/she:

Answer: I assume you are referring to a sale where you carry back the security obligation (as opposed to the buyer paying cash or securing third party financing).[1] In this respect, you are correct, subject to several limitations.

If I am a licensed real estate agent, can I sell manufactured homes?

The SAFE Act has received a lot of attention lately by park owners, but did you know that it’s really only one law of many state and federal lending regulations you are required to comply with when selling homes on contract?