Unit I Law - Oregon Real Estate Law 4

Question 1

87.010 Construction liens; who is entitled to lien.

1

Answer 1

(1) Any person performing labor upon, transporting or furnishing any material to be used in, or renting equipment used in the construction of any improvement shall have a lien upon the improvement for the labor, transportation or material furnished or equipment rented at the instance of the owner of the improvement or the construction agent of the owner.

Question 2

87.010 Construction liens; who is entitled to lien.

2

Answer 2

(2) Any person who engages in or rents equipment for the preparation of a lot or parcel of land, or improves or rents equipment for the improvement of a street or road adjoining a lot or parcel of land at the request of the owner of the lot or parcel, shall have a lien upon the land for work done, materials furnished or equipment rented.

Question 3

87.010 Construction liens; who is entitled to lien.

3

Answer 3

(3) A lien for rented equipment under subsection (1) or (2) of this section shall be limited to the reasonable rental value of the equipment notwithstanding the terms of the underlying rental agreement.

Question 4

87.010 Construction liens; who is entitled to lien.

4

Answer 4

(4) Trustees of an employee benefit plan shall have a lien upon the improvement for the amount of contributions, due to labor performed on that improvement, required to be paid by agreement or otherwise into a fund of the employee benefit plan.

Question 5

87.010 Construction liens; who is entitled to lien.

5

Answer 5

(5) An architect, landscape architect, land surveyor or registered engineer who, at the request of the owner or an agent of the owner, prepares plans, drawings or specifications that are intended for use in or to facilitate the construction of an improvement or who supervises the construction shall have a lien upon the land and structures necessary for the use of the plans, drawings or specifications so provided or supervision performed.

Question 6

87.010 Construction liens; who is entitled to lien.

6

Answer 6

(6) A landscape architect, land surveyor or other person who prepares plans, drawings, surveys or specifications that are used for the landscaping or preparation of a lot or parcel of land or who supervises the landscaping or preparation shall have a lien upon the land for the plans, drawings, surveys or specifications used or supervision performed.”

Question 7

659A.421 Discrimination in selling, renting or leasing real property prohibited.

Answer 7

a) “Dwelling” means:
(i) A building or structure, or portion of a building or structure, that is occupied, or designed or intended for occupancy, as a residence by one or more families; or
(ii) Vacant land offered for sale or lease for the construction or location of a building or structure, or portion of a building or structure, that is occupied, or designed or intended for occupancy, as a residence by one or more families.

Question 8

659A.421 Discrimination in selling, renting or leasing real property prohibited.

Answer 8

Note purchaser is all inclusive not just person buying(b) “Purchaser” includes an occupant, prospective occupant, renter, prospective renter, lessee, prospective lessee, buyer or prospective buyer.

Question 9

659A.421 Discrimination in selling, renting or leasing real property prohibited.

Answer 9

“Real property” includes a dwelling.

Question 10

659A.421 Discrimination in selling, renting or leasing real property prohibited.

Answer 10

d) “Source of income” does not include federal rent subsidy payments under 42 U.S.C. 1437f, income derived from a specific occupation or income derived in an illegal manner.

Question 11

(2) A person may not, because of the race, color, religion, sex, sexual orientation, national origin, marital status, familial status or source of income of any person:

Answer 11

a) Refuse to sell, lease or rent any real property to a purchaser.
(b) Expel a purchaser from any real property.
(c) Make any distinction, discrimination or restriction against a purchaser in the price, terms, conditions or privileges relating to the sale, rental, lease or occupancy of real property or in the furnishing of any facilities or services in connection therewith.
(d) Attempt to discourage the sale, rental or lease of any real property to a purchaser.
(e) Publish, circulate, issue or display, or cause to be published, circulated, issued or displayed, any communication, notice, advertisement or sign of any kind relating to the sale, rental or leasing of real property that indicates any preference, limitation, specification or unlawful discrimination based on race, color, religion, sex, sexual orientation, national origin, marital status, familial status or source of income.
(f) Assist, induce, incite or coerce another person to commit an act or engage in a practice that violates this section.
(g) Coerce, intimidate, threaten or interfere with any person in the exercise or enjoyment of, or on account of the person having exercised or enjoyed or having aided or encouraged any other person in the exercise or enjoyment of, any right granted or protected by this section.
(h) Deny access to, or membership or participation in, any multiple listing service, real estate brokers’ organization or other service, organization or facility relating to the business of selling or renting dwellings, or discriminate against any person in the terms or conditions of the access, membership or participation.
(i) Represent to a person that a dwelling is not available for inspection, sale or rental when the dwelling in fact is available for inspection, sale or rental.
(j) Otherwise make unavailable or deny a dwelling to a person.

Question 12

3)(a) A person whose business includes engaging in residential real estate related transactions may not discriminate against any person in making a transaction available, or in the terms or conditions of the transaction, because of race, color, religion, sex, sexual orientation, national origin, marital status, familial status or source of income.

Answer 12

(b) As used in this subsection, “residential real estate related transaction” means any of the following:
(i) The making or purchasing of loans or providing other financial assistance:
(i) For purchasing, constructing, improving, repairing or maintaining a dwelling; or
(ii) Secured by residential real estate; or
(iv) The selling, brokering or appraising of residential real property.

Question 13

(4) A real estate licensee may not accept or retain a listing of real property for sale, lease or rental with an understanding that a purchaser may be discriminated against with respect to the sale, rental or lease thereof because of race, color, religion, sex, sexual orientation, national origin, marital status, familial status or source of income.

Answer 13

*****Can’t if the seller or whoever is discriminating

Question 14

5) A person may not, for profit, induce or attempt to induce any other person to sell or rent any dwelling by representations regarding the entry or prospective entry into the neighborhood of a person or persons of a particular race, color, religion, sex, sexual orientation, national origin, marital status, familial status or source of income.

Answer 14

called “block busting” trying to induce people to sell based on discrimination

Question 15

(6) This section does not apply with respect to sex distinction, discrimination or restriction if the real property involved is such that the application of this section would necessarily result in common use of bath or bedroom facilities by unrelated persons of opposite sex.

Answer 15

often on exam
can discriminate against sex when there is a common use bathroom facility. Landlord could for example saw only men or only men

Question 16

7 (b) As used in this subsection, “housing for older persons” means housing:

Answer 16

i) Provided under any state or federal program that is specifically designed and operated to assist elderly persons, as defined by the state or federal program;
(ii) Intended for, and solely occupied by, persons 62 years of age or older; or
(iii) Intended and operated for occupancy by at least one person 55 years of age or older per unit. Housing qualifies as housing for older persons under this subparagraph if:

At least 80 percent of the dwellings are occupied by at least one person 55 years of age or older per unit; and

Policies and procedures that demonstrate an intent by the owner or manager to provide housing for persons 55 years of age or older are published and adhered to.

Question 17

7(c) Housing does not fail to meet the requirements for housing for older persons if:

Answer 17

(i) Persons residing in the housing as of September 13, 1988, do not meet the requirements of paragraph (b)(ii) or (iii) of this subsection. However, new occupants of the housing shall meet the age requirements of paragraph (b)(ii) or (iii) of this subsection; or
(ii) The housing includes unoccupied units that are reserved for occupancy by persons who meet the age requirements of paragraph (b)(ii) or (iii) of this subsection.

Question 18

(8) The provisions of subsection (2)(a) to (d) and (f) of this section that prohibit actions based upon sex, sexual orientation or familial status do not apply to the renting of space within a single-family residence if the owner actually maintains and occupies the residence as the owner’s primary residence and all occupants share some common space within the residence.

Answer 18

does not apply if single family residence and owner lives there

Question 19

Oregon Trust Deed Act
REAL PROPERTY MORTGAGES

86.010 Nature of mortgagee’s interest
A mortgage of real property is not a conveyance so as to enable the owner of the mortgage to recover possession of the property without a foreclosure and sale. This section is not intended as a limitation upon the right of the owner of real property to mortgage or pledge the rents and profits thereof, nor as prohibiting the mortgagee or pledgee of such rents and profits, or any trustee under a mortgage or trust deed from entering into possession of any real property, other than farmlands or the homestead of the mortgagor or successor in interest, for the purpose of operating the same and collecting the rents and profits thereof for application in accordance with the provisions of the mortgage or trust deed or other instrument creating the lien, nor as any limitation upon the power of a court of equity to appoint a receiver to take charge of the property and collect the rents and profits thereof.

Answer 19

Lien holder on profit producing property can go to court and gain profit from property if there is an outstanding lien

Question 20

Oregon Property Disclosure Statement and Stigmatized Properties

**do not have to disclose this info, however if was used for drug manufacturing should be disclosed

Answer 20

Stigmatized Properties
Sellers and real estate licensees are not required to disclose the following on stigmatized properties:

Murder
Suicide
Death by natural causes
They are however required to disclosure if there has been a drug manufacturing site on the property. Both the seller and real estate licensees are PROHIBITED from disclosing any information related to HIV illness.

Question 21

Oregon Board of Forestry is responsible for forest policy within the state of Oregon.

Answer 21

28,000,000 acres of public and private forests.” The Oregon legislature has given the board the right to establish forest policy within the state.

The board facilitates public debate on key issues of forest management. This includes timber harvest rules, environmental regulations, firefighting practices, and management priorities for use of state-owned forest lands.

Question 22

Difference between a Mortgage and a Deed of Trust?

Answer 22

The fundamental difference between deeds of trusts and mortgages is the procedure that is followed if the borrower does not honor their obligation to pay off the loan, and the loan goes into arrears. Failing to make monthly installments or meet other conditions of the loan, such as carrying homeowner’s insurance and maintaining the house in good repair, the lender can bring a court action in order to foreclose on the property. Whether a property will have a deed of trust or a mortgage depends on the state in which it is located. With a trust deed if the homeowner does not pay the loan, the nonjudicial foreclosure process is usually much faster and less complicated than the formal court foreclosure process.

Question 23

A deed of trust involves three parties:

the homeowner
the lender
title insurance company which is holding legal title to the real estate until the loan is fully repaid

Answer 23

If the homeowner does not honor their obligation, then the lender can foreclose on the property with a non-judicial foreclosure. The clause in a deed of trust which allows the lender to take this action is called a power of sale clause. The lender must first serve the borrower with a notice of default. Next the borrower is served with a notice of sale. After these notices the lender can sell the property at auction which is called a trustee’s sale. The highest bidder on the property will receive a Trustee’s deed.

Question 24

Deed in lieu of foreclosure (DIL)

Answer 24

is a way to be released from a home loan and have property transferred back to the lender. A borrower who cannot pay their mortgage may attempt a deed in lieu of a foreclosure transaction. Instead of going through the foreclosure process, the borrower relinquishes the deed and returns it back to the lender. Borrowers may be able to get free from their mortgage quickly. Also, a deed in lieu of foreclosure transaction may be less threatening to the borrower’s credit.

Question 25

Deed in lieu of foreclosure (DIL)

Answer 25

Some lenders will accept a deed in lieu of foreclosure because accepting the deed may be easier, less expensive and faster than going through the foreclosure process. In addition, they take possession of the home immediately, instead of allowing the borrower to live there during the foreclosure process. However, the bank still may suffer losses and they have to sell the property itself. There is no guarantee that a bank will accept a deed in lieu of foreclosure.

Question 26

ORVET Home Loan Eligibility and Application

Answer 26

In November 2010, Oregon voters approved ballot Measure 70, expanding veteran eligibility for the ORVET Home Loan as well as eliminating the constitutional 30-year eligibility restriction. The ORVET Home Loan is now a lifetime benefit for eligible veterans. This constitutional amendment takes effect January 2, 2011.

Question 27

ORVET - To be eligible, a veteran must have served on active duty with the United States Armed Forces and meet one of the following criteria:

Answer 27

a) Beginning on or before January 31, 1955 served more than 90 days and was discharged or released under honorable conditions; or
b) Beginning after January 31, 1955 served more than 178 consecutive days and was discharged or released under honorable conditions; or
c) Served 178 days or less and was discharged or released from active duty under honorable conditions because of a service-connected disability; or
d) Served 178 days or less and was discharged or released from active duty under honorable conditions and has a disability rating from the United States Department of Veterans Affairs; or
e) Served at least one day in a combat zone and was discharged or released from active duty under honorable conditions.

Question 28

Veterans are also eligible if they meet one of the following criteria:

Answer 28

a) Received a combat, campaign or expeditionary ribbon or medal for service and was discharged or released under honorable conditions; or
b) Is receiving a nonservice-connected pension from the United States Department of Veterans Affairs

Question 29

Establishing Eligibility

Answer 29

Step one to obtaining an ORVET Home Loan is to establish your eligibility with the Oregon Department of Veterans’ Affairs. To do this simply fill out an ORVET Eligibility Application Form and fax or mail it to ODVA, along with a copy of your *****REMEMBER THIS ONE: DD-214. ODVA will issue an Eligibility Letter and the Loan Application process can then begin. If you have any questions, please contact the ORVET Home Loan Department at the number below.