|Re: Long term leases in Oregon||<– Date –> <– Thread –>|
|From: Kathryn McCamant (kmccamantcohousing-solutions.com)|
|Date: Sun, 19 Jun 2016 13:25:17 -0700 (PDT)|
I don’t know the answer to your question regarding laws on length or language of land leases, but I would suggest you also ask your attorney about making sure it also allows your buyers can get mortgages (Fannie Mae loans), unless your people have lots of money and don’t need conventional mortgages. Katie -- Kathryn McCamant, President CoHousing Solutions 241B Commercial Street Nevada City, CA 95959 T.530.478.1970 C.916.798.4755 www.cohousing-solutions.com On 6/19/16, 12:44 PM, "Cohousing-L on behalf of meadows via Cohousing-L" <cohousing-l-bounces+kmccamant=cohousing-solutions.com [at] cohousing.org on behalf of cohousing-l [at] cohousing.org> wrote: Asking again if anyone who has a long term lease in Oregon knows how long a lease can be without violating the "rule of perpetuities." Our group (located in Oregon) is developing long term leases for the "footprints" of residences. We are wondering how to phrase the term/ length of lease (we'd like 99 years) so as to comply with Oregon's take on the "rule of perpetuities". (We have heard that the way this rule is interpreted varies from state to state.) Our lawyer asked us to research this issue. Thanks for any help you can supply. Christie _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
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