Reference Material and Informational Links
Family Law
Family Law
There are many kinds of leases, including residential leases, ground leases, and the like, as well as some more specialized leases, such as agricultural leases involving multi year crops like Christmas trees or fruit orchards.
One of the most complex kinds of leases in Oregon is the commercial lease. These leases involve the rental of business premises.
Real estate can be owned in a variety of ways in Oregon.
The most common is called ownership in fee simple. Such an owner may also be referred to as the holder of a fee. This simply means that the person (or group or entity) owns the land, by him or herself, with no other person group or entity having an ownership right currently, or having a right to the land which will pass to them at some point in the future.
Real estate is formally called “real property” in Oregon law. Personal property is all property other than real estate, including tangible things you can touch such as your car, the contents of your pocket, and your lawn mower, as well as intangible things such as your bank account, or stocks and bonds.
“Property,” in Oregon law means both real property and personal property.
Real estate is sometimes also called real property.
When someone purchases real estate, except in very limited circumstances, a 1099-S form has to be issued and filed with the IRS.
This is usually handled by a title company.
If the purchaser does not get title insurance, this is often missed.
As part of a good estate plan, most people also do an incapacity plan, so that someone else can manage their affairs if they ever become incompetent
A major component of some incapacity plans is a trust, which many people think of as simply an estate plan.
In addition to the savings in state estate taxes in estates (See Part I) where a couple has assets that total more than a million dollars, including their home, their life insurance, and their retirement assets, if a couple either has no estate plan at all, or has a simple will based estate p
It is not uncommon for people to buy a house together with an elderly relative.
One of the most important things to remember, following a divorce, is that there are things that must still be done following the divorce.
Don’t wait to do these things, thinking that you can do them when you get around to them.