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Licensing steps Register for an account in eLicense, the Agency's online license management system. Apply for a property manager license and pay the $300 nonrefundable application fee in eLicense. When the application is processed, you will receive an Applicant ID number by e-mail.
The Oregon Trust Deed Act was established in 1959 to make the foreclosure process easier and faster by not involving the courts. The Act allows the lender to file a trust deed, which assigns the deed to a third-party (trustee).
Property managers are brokers and principal brokers as well as property managers managing rental real estate. To qualify, the property manager must: Be licensed by the Oregon Real Estate Agency.
If you own property jointly with someone else, and this ownership includes the "right of survivorship," then the surviving owner automatically owns the property when the other owner dies. This is called a "survivorship estate" in Oregon.
Ing to Oregon's laws of intestate succession (when someone dies without a Will or Living Trust), the spouse inherits 50% of the decedent's Estate, while the decedent's children (from someone other than the current spouse) inherit the other 50%.
Survivorship means there are joint owners with right of survivorship of personal property. The front of Oregon titles shows survivorship information. When DMV issued a title with survivorship and one of the owners is deceased, the surviving owner(s) may transfer with proof of death of the deceased owner.
A nonlicensed individual who is a salaried employee of the State of Oregon, or any of its political subdivisions, engaging in professional real estate activity as a part of such employment.
BROKER LICENSE allows you to engage in property management on you own or with other licensees. To manage property with a broker license, you need the supervision of a principal broker.
Oregon requires persons who manage real estate for another for compensation to hold a property manager's license. ORS 696.030 provides some exemptions to the licensing requirements of ORS 696.010 and 696.020. One exemption is for persons who manage their own property.
Under the right of survivorship, each tenant possesses an undivided interest in the whole estate. When one tenant dies, the tenant's interest disappears and the others tenants' shares increase proportionally and obtain the rights to the entire estate.