Legal Question in Real Estate Law in Oregon

what form or forms do we need in a contract between 3 people

My husband and I live in Oregon. We sold a motorcyle to person who lives in Arizona,that is living with his parents to help take care of them, for some money up front and the balance will be paid by allowing us to stay in guest home on their property or park our RV on there property in Arizona and stay during the winter months. and addition is that if the owner pass away the son will inhaired the propery, and when the son decide to sell the propery his to pay up 10% of the sale of the land and home. But if the pass away before his dad (owner of home and property) he will then be obligated to fullfill the agreement of paying us 10% of the sale. But if the son pass first and then the father. We will own the home and property and sell the home and get our 10% of sale and devided up the rest as they wish it to be. If by chance something happein to the property, weather, fire ect we get our 10% of the value of this property before the damage from the insurance that they have on the home. I need to know what forms to file out that would cover all intrest mention above that will protect us to get our money due that was agreed by all parties


Asked on 6/17/06, 6:57 am

1 Answer from Attorneys
James Jenkins Jenkins Law Center PLC

Re: what form or forms do we need in a contract between 3 people

This is a very complicated and strange sale agreement for a motorcycle, with obligations by the buyer, his parents, provisions that run with land, etc. I seriously doubt that a pull=-out-of-the-drawer "form" will be found for this, in fact serveral documents may be required. Sale contract signed, covenant to make a will enforceable against parents' estate, recorded document to show interest on title, provisions for payment of taxes, insurance, maintenance, etc. all for the price of a motorcycle.

See an attorney. You have yourself in a complicated mess. Next time I would advise selling a vehicle for cash, and renting or buying your vacation spot.

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Answered on 6/19/06, 12:55 pm


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