Legal Question in Real Estate Law in Oregon

Re: will the state allow the sail of this property

The state cannot change the terms of the contract between you and your landlord so long as the contract was valid at the time it was entered into and at the time you try to exercise it. It is more likely that the state will look to be repaid for the aid it has provided when the house is sold.

It is often not necessary for the contract to be notarized for it to be valid. It usually does need to be signed by both you and your landlord or it will probably not be valid.

A problem that our office sees with lease-option agreements is that the parties fail to adhere to the terms of the contract. For example, most lease option contracts have a specific time in which the option must be exercised. There are also specific actions which must be taken to exercise the option.

If your option contract is one that is very favorable to you and there is a likelihood that the house would sell for significantly more than the option price, then the state might want to try to invalidate the contract and obtain more more money by selling the property to some one else.

Any time you have problems or concerns about a real estate contract, you should contract an attorney. This short answer to your web-based question cannot be used in place of specific legal advice following an examination of the contract you have. Our office offers a low cost initial one-half hour consultation. Please contact us for an appointment.