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Oregon Revised Statutes Property Rights and Transactions § 90.820

Current as of January 01, 2023 | Updated by Findlaw Staff

(1) Within 14 days of delivery by or on behalf of the marina owner of the notice required by ORS 90.805 (2) or 90.810, a tenants' association or marina purchase association may notify the owner of the marina in which the tenants reside by certified mail or personal service at the address disclosed to the tenants under ORS 90.305 (1)(a) that the association, or a tenants' association supported nonprofit organization, is interested in purchasing the marina.

(2) Upon delivery of the notice required by subsection (1) of this section, the owner shall negotiate in good faith with the association or organization and provide the association or organization an opportunity to purchase the marina as the owner would any bona fide third party potential purchaser. During the 14-day period following the delivery of a notice to the owner under subsection (1) of this section, the tenants' association, marina purchase association or tenants' association supported nonprofit organization has a right of first refusal for any offer or agreement by the owner to sell the marina.

(3) A marina purchase association or tenants' association actively involved in negotiations with an owner may waive or reduce the time periods for notice described in this section. A marina purchase association or tenants' association may authorize a tenants' association supported nonprofit organization to waive notice on behalf of the association.

(4) This section, ORS 90.805 (2) and 90.810 do not apply to:

(a) Any sale or transfer to a person who would be included within the table of descent and distribution if the owner were to die intestate.

(b) Any transfer by gift, devise or operation of law.

(c) Any transfer by a corporation to an affiliate. As used in this paragraph, “affiliate” means any shareholder of the transferring corporation, any corporation or entity owned or controlled, directly or indirectly, by the transferring corporation or any other corporation or entity owned or controlled, directly or indirectly, by any shareholder of the transferring corporation.

(d) Any transfer by a partnership to any of its partners.

(e) Any conveyance of an interest in a marina incidental to the financing of the marina.

(f) Any conveyance resulting from the foreclosure of a mortgage, deed of trust or other instrument encumbering a marina or any deed given in lieu of a foreclosure.

(g) Any sale or transfer between or among joint tenants or tenants in common owning a marina.

(h) Any exchange of a marina for other real property, whether or not the exchange also involves the payment of cash or other boot.

(i) Any purchase of a marina by a governmental entity under that entity's powers of eminent domain.

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Cite this article: FindLaw.com - Oregon Revised Statutes Property Rights and Transactions § 90.820 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-10-property-rights-and-transactions/or-rev-st-sect-90-820/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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