We were looking to do a deed transfer, but I had questions of triggering a capital gains tax, or gift tax. I was advised the recipient will inherit the gift giver's tax basis, thus losing the step up in basis at death that would otherwise have occurred, thus creating in most cases a capital... Read more »
Example: father purchased the property for $50,000 in the 80s. His orignial "tax basis" is $50,000. So that if he sells it for $50,001 he has a gain of $1. Now its 2021 and It is now worth $200,000. The built in gain is $150,000.
If he holds onto the property, either as a... Read more »
My Grandmother's Mother passed left, which left my grand mother land and mineral. My grandmother passed which My mother then inherited some land and minerals. My mother's brothers and sister decide not to let her children know they inherited land and minerals so the kids never got any... Read more »
It sounds like you have a complicated question with several moving parts. I recommend you bring in all the information you have and meet with an experienced probate attorney who can let you know your rights in this situation.
I own a property with my dad and ex-wife. My dad and ex-wife both want to exit ownership through a quitclaim. Can they file quitclaims for themselves or do we all need to sign off on each one?
You have not stated the exact Estate that each of you own presently. But most likely one quit claim deed from your Father and ex wife as grantors will place the Fee Simply Title in you. Hire a competent OR attorney to handle this properly.
We got a 90 day notice to leave because they sold the property . But no papers were added showing proof of it being sold ...I lease ended in march ..they never renewed it but we have till this day payed rent every month...what should we do...there is nothing open for rent here
Much depends upon the exact details - what the 90 day notice said; what, if any, other papers were served; what, if anything, was said about relocation assistance; etc. You are correct that the seller/landlord is obligated to show you a copy of the offer that he accepted, along with a declaration... Read more »
Per ORS 90.295-302, I cannot find anything that outlines this fee as allowable. I moved in to the home in 2011 and moved out last month. My lease outlined a non refundable move in fee that was paid upon move in. This was obviously not refunded to me last month when I moved out. Is this fee allowed?
One would need to check what law was in effect in 2011 to see if such a fee was lawful then. Even if it was not, there is a one year statute of limitations on landlord-tenant matters BUT depending upon the exact wording in the lease, you may be entitled to treat it like a deposit instead, which... Read more »
My boyfriend was given a lease renewal letter and told he had til the end end of this month to sign it. Today he received a letter saying that that has been rescinded and it is now going to be month to month. Out of 3 units he was the only one put on month to month and when he asked the landlord he... Read more »
Had he signed and accepted the offer prior to the rescission, there is likely nothing the landlord could have done. But if he rescinded before your boyfriend accepted the renewed term lease, your boyfriend in now likely going to be on a month to month. But that is not the end of the world - to... Read more »
We just bought a house. We gave the seller an extra 25 days to find a new place. We are now days away from our possession date and she told us that she has not found a new place yet so she won't be out in time. We did not hold any money in escrow. We have to be out of our current home. What... Read more »
Unfortunately, you have no leverage, because there is not any money in escrow. You should probably speak to a lawyer and move forward with eviction or whatever that lawyer suggests.
Seller says a 90 day notice to vacate will be given once the house closes. I don't think the renters are paying rent but I am not sure. Is there anyway to get them to vacate by offering money to leave the rental once we take ownership without having to go through an eviction? How long could we... Read more »
Sure - anything (more or less) that you and the tenants can agree to is likely to work - bribery has long proven an effective way to accomplish some goals. BUT if you are the buyer, with all due respect, you are crazy if you don't make the seller getting the tenants out (instead of you) as a... Read more »
I am worried about finding a new rental in this current market within 90 days. Does the notice have to be mailed or hand delivered? Also, is wanting to sell a justified reason for an early termination within the pandemic? Would they have to pay any moving costs or penalties? Any advice would... Read more »
Much depends upon where your dwelling is located and how long you have resided there. That said, email or text is never a lawful means of serving a tenant a termination of tenancy notice and is most likely unenforceable. I interpret your posting to mean that you have a fixed term lease through... Read more »
I was notified our rental is being put on the market to be sold. Once sold, I may be given 90 days to move. At what point, if any, would The property owner be liable to pay for moving expenses? I read it could be up to one months rent. We are in a pandemic and rentals are scarce so if I have an... Read more »
If you are not within the Portland city limits, and your landlord (not just property manager) owns 5 or more rental units in Oregon, then you will likely be entitled to receive one month's rent as relocation assistance with receipt of a valid 90 day Notice of Termination of Tenancy. If within... Read more »
A year ago, I moved in with my cousin and my parents. My cousin and dad are on the lease; my mom and I are not. My cousin has had issues with my parents and has been threatening to kick them out for months for no reason. I finally stepped in to defend them, and now he’s trying to kick me out too.... Read more »
Who issued this notice - the cousin or the master landlord? Do you pay any rent and if so, to whom - cousin or landlord? Depending upon the exact facts, the cousin may have no legal right to terminate anyone else's tenancy. Even if he does, the notice has to contain all the legally required... Read more »
Current owner has served them a 90 day termination notice. Our realtor is saying that at the 90 day mark they can be removed by the sheriff if they haven’t voluntarily left yet. Is this true? Or would we have to wait the 90 days and then the current owner file for eviction proceedings?
I hope your realtor knows more about real estate than he does about landlord-tenant law. IF the current owner served a lawfully worded 90 day Notice, and lawfully served it, and the tenants don't leave, then the current owner will have to go to court to evict them - and that could take awhile... Read more »
The home has no mortgage. I have a child. We all live in the home. We were in a long-term relationship but aren't anymore. He wants his new girlfriend and her son to move in
I assume you own the home as tenants in common. Any owner has the right to invite others to occupy the unit, so either of you can. If you can't even agree on co-occupants, perhaps being co-owners was not the wisest choice.
My basement recently flooded from a sump pump that failed during a rain storm. After calling the insurance company and having them send ServPro out to assess the damage we discovered that there was previous flood damage and mold growing inside the walls. Insurance says they wont cover it because... Read more »
An Oregon attorney could advise best, as obligations to disclose can differ according to state law. But your question remains open for two weeks. As as GENERAL premise of contract law, taking affirmative steps to hide a condition that was known could be bad faith (e.g. applying thick coatings in a... Read more »
I heard you’re not allowed to rent your house before the original lease expires (because you’d essentially be getting double rent). But the former tenant broke the lease of his own choice and paid the remaining rent of his own choice too. Must I keep my house vacant for 3 months?
As long as it is clear that the tenant has abandoned or otherwise terminated his tenancy, you are free to re-assume possession and rent it out. IF you rent it out prior to the remaining three months on the ex-tenant's lease, and for which you have been paid in full, you must refund to the... Read more »
created a trust. Our house is in this trust. She is listed as a "trustee" on the deed of our house. I am not. How does this affect my claims and ownership to the house if we were to split up?
If you did not sign the Deed transferring your share of the house into your fiancée's Trust then you still own that share (likely 50%). If you did sign the transfer Deed then you no longer own the house as it is owned by your fiancée's Trust. I recommend you have an attorney review... Read more »
With the moratorium, I don't know if I can choose not to renew their lease at the end of it. The plan for this property was to rent it for two years, and then sell it. This is the end of the second year, and I'd like to sell the property, before the capital gains taxes become applicable.
One of the subtle changes that has been made over the pandemic is exactly what provisions of Oregon Landlord-Tenant law the moratorium applies to. Currently, you are allowed to sell your rental property so long as you comply with all the requirements of ORS 90.427 (5)(d). IF your rental dwelling... Read more »
Do I have the right or do I have time to sue her the cop said there was nothing I can do but I don't believe that this happened in Brooks Oregon she wasn't even the manager and I never got an eviction notice my stuff was all destroyed what she did give me back she kept anything of value... Read more »
Assuming you are talking about residential landlord-tenant (not storage bin lock cut, etc.), then you likely DO have claims against the landlord. First, do not take your legal advice from cops. Second, cops only deal with criminal matters - and the cop here most likely is correct, there likely is... Read more »
My roommate and I are currently having problems and now I would like to move out. If I give them a 30 day notice, pay the rest of the rent for the next month, and offer to pay half the lease break fee if they would prefer to break the lease, could they potentially still sue me?
Sorry to hear you're having roommate problems. I am not sure what you mean when you say you're on the lease as the non-financially responsible tenant. If you mean that you're listed only as someone who will be occupying the apartment and not as a "tenant," then you are not... Read more »
What if the 3rd Roomate doesn’t want to move out? Can we give notice and remove ourselves from the lease? Or are we responsible for the rent until a new Roomate is found?
If all 3 of you are on the same lease, any of you can issue the required 30 day termination of tenancy notice. Doing so will legally terminate the lease for all 3, though #3 can always talk with the landlord to see if they can enter into a new rental agreement, with or without new, replacement... Read more »
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